FCLF Supports $11 Million Boys & Girls Club Facility

25 June 2018

FCLF, NMTC, Boys & Girls Clubs of Manatee CountyNew Markets Tax Credit Program will finance replacement of existing clubhouse.

Orlando Florida (June 25, 2018) – Florida Community Loan Fund (FCLF), a statewide source of flexible financing for community and economic development, announced the closing of a transaction that will replace the Boys & Girls Clubs of Manatee County’s (BGCMC) worn out, obsolete 50 year-old building with a new 47,500 square-foot facility.

FCLF provided $10.5 million in New Markets Tax Credit (NMTC) allocation for the new facility, consistent with FCLF’s focus on NMTC projects that achieve high social impact, catalyze economic development, and create jobs in severely distressed census tracts. The new BGCMC clubhouse, expected to open in Summer 2019, will be a centerpiece in its West Bradenton community and provide programs for 2,400 members – 75% of whom are low income. In addition to creating 200 jobs, the project is designed to drive academic achievement, good character and citizenship, and healthy lifestyles for local children.

“Without NMTC, it could have taken years to pull together financing for this project,” said Nelson Black, FCLF Chief Lending Officer, “but the time to mentor children and youth is right now. The new Boys & Girls Club will reach thousands of children and teens every year, in their own back yard.”

Learn more about Florida Community Loan Fund and Boys & Girls Clubs of Manatee County in this video.

FCLF, NMTC, BGC Video

FCLF has participated in the NMTC Program since 2004 and been awarded a total of $316 million in NMTC allocation authority from the U.S. Department of Treasury Community Development Financial Institutions (CDFI) Fund. The NMTC Program is designed to attract capital investments into large scale, high priority, locally determined projects statewide. The investor on this project is PNC Bank and additional financing is provided by Synovus Bank.

About Florida Community Loan Fund. Florida Community Loan Fund is a nonprofit, multifaceted financing entity with a 20+ year history of providing flexible capital and expertise to low income communities across Florida. FCLF is nationally recognized for its work as a certified CDFI and CDE through the U.S. Dept. of Treasury and as a member of the Federal Home Loan Bank of Atlanta. FCLF has financed $323 million through 300 loans in Florida, making possible over $940 million in new investments in low-income communities. For more information visit www.fclf.org or www.facebook.com/FCLFOrg

About Boys & Girls Clubs of Manatee County. Boys & Girls Clubs of Manatee County’s mission is “to enable all young people, especially those that need us most, to reach their full potential as productive, caring, responsible citizens.” In operation since 1946, Boys & Girls Clubs of Manatee County currently provides afterschool and summer programs for over 4,100 young people at six locations (2 traditional Clubs and 4 school-based Clubs). The Clubs offer a safe place to learn and grow, where young members experience both life-enhancing and character-building programs focused on academic success, healthy lifestyles, and good character and citizenship. For more information, call 761-2582 or visit www.bgcmanatee.org or www.facebook.com/BoysGirlsClubsManatee.

Read our press release here: Florida Community Loan Fund supports $11 million Boys & Girls Club Facility
Media Contacts: Janet de Guehery, This email address is being protected from spambots. You need JavaScript enabled to view it., or Lisa Junkerman, This email address is being protected from spambots. You need JavaScript enabled to view it..
Twitter: @FCLFOrg, #FCLF20

"Trinity Health is happy to partner with FCLF. We look forward to seeing the impact in the communities you serve." – Sr. Kathleen Coll, SSJ, Administrator, Shareholder Advocacy

Trinity Health

"I recommend FCLF for attracting investment to the Florida Preservation Fund... I believe that says something about investor comfort." – Nancy Muller, Policy Director

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Wealth Watchers

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Florida Community Bank

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Metropolitan Ministries

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Operation New Hope

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Allegany Franciscan Ministries

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JPMorgan Chase Foundation

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US Bancorp CDC

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BBVA Compass

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Brevard Neighborhood Development Coaliti…

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TD Charitable Foundation

"Without the FCLF initial loan to purchase land, we might not have been able to move forward with farmworker housing." – Peter Routsis-Arroyo, CEO, Catholic Charities, Diocese of Venice

Casa San Juan Bosco

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Habitat for Humanity of Lake-Sumter

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The Transition House, Inc.

"FCLF staff shares our vision and commitment to serve needy families and provide a high quality education to all children." – Thomas Cole, Founder

Emma Jewel Charter Academy

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Dignity Health

"FCLF was instrumental in making this important project a reality, bringing us one step closer to ending chronic homelessness in Miami-Dade County." – Dr. Paul A. Ahr, President & CEO

Camillus House

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FCLF staff with local supporters at Metropolitan Ministries Tampa.
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Neighbor Up, formerly BNDC, offers affordable housing in Brevard County.
Emma Jewel Academy and FCLF
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FCLF projects create jobs and stimulate development in low-income communities.
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Rep. Daniel Webster visited FCLF staff.
TD Charitable Foundation, TD Bank
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FCLF Chief Lending Officer visits with the Executive Director of Neighbor Up (formerly BNDC)
Casa San Juan Bosco and FCLF
New rental homes are available for farmworker families at Casa San Juan Bosco.
ASPIRA of Florida and FCLF
FCLF CEO and one of our supporters visit the ASPIRA Arts Deco school.
Million Meals 2012
FCLF staff and supporters volunteer at Million Meals event.
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Casa San Juan Bosco and FCLF
Catholic Charities, Diocese of Venice, financed the land for farmworker rental housing with FCLF.
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