FCLF Supports $11 Million Boys & Girls Club Facility

25 June 2018

New 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 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

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“FCLF addresses local community needs, which aligns with our core values. We appreciate your commitment to our communities.” – Mellissa Slover-Athey, Comm Reinv Ofcr

CenterState Bank

“FCLF will help us have significant ongoing impact in West Lakes as we help families set roots in this community.” – Camille Reynolds, Executive Director

Hannibal Square CLT

"Cade Museum is proud to be partners with FCLF and JPMorgan Chase. Thanks to the NMTC Program, we will provide a transformative asset to our community." – Jennifer Denault, COO

Cade Museum for Creativity & Inventi…

"FCLF is a difference maker! Their team provides solutions to bring about real change in a community." – Tim Marks, President & CEO

Metropolitan Ministries

"We consider FCLF a valued partner and strong advocates for low-income communities and families. We look forward to many more years of working together." – Jennifer Westerbeck, Vice President

US Bancorp CDC

"FCLF has proven its community impact and hard work. We are proud to partner with FCLF." – Leslie Watson, Analyst, Community Investments

Dignity Health

“Thanks to FCLF we’re able to provide brand-new safe, affordable homes for 90 families in a sustainable mixed-use, mixed-income community." – Mitchell Rosenstein, Founder & Principal

Green Mills Group

“FCLF provides stability for families, strengthens the region, and helps Truist fulfill our purpose to inspire and build better lives and communities." – Sandy Hostetter, Central Florida Region P

Truist

"FCLF understood our context, embraced the project vision, and were willing to make an investment that others deemed as too risky." – Lynn Brockwell-Carey, Executive Director

Neighbor Up Brevard

“FCLF is much more than a financing entity; they are the ultimate partner. They are on the front line protecting and building resources for the most vulnerable in our community."– Seth Eisenberg

Purpose Built Families Foundation

"FCLF shows a clear strategy and demonstrated evidence of addressing prevalent community needs." – J. Reymundo Ocañas, Director, Corp Responsibility

BBVA Compass

"We appreciate how the work of FCLF primarily benefits low- to moderate-income individuals and areas and supports the needs of our community." – Maria J. Thompson, Community Development Manager

Third Federal Savings

"It is really working. FCLF is really touching low-income people." – Florida Community Loan Fund Founding Board Member

Sister Mary Heyser, RSHM

"FCLF understands and is a part of what we are doing: helping families have the American dream of owning a home." – Isaac Simhon, Executive Director

Housing Programs, Inc.

"The Fathers Table Foundation appreciates the services FCLF provides and the impact on the communities you serve. We believe in your organization and your mission." – Dan Gilardi, President

Fathers Table Foundation

“The partnership with FCLF is very exciting for us – an essential component in providing greater access to fresh healthy food in downtown New Port Richey.” – Jeff Wright, Owner

Wright's Natural Market

"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

“Thanks to FCLF adults with disabilities are living independently, fully included in their community." – Sheryl Soukup, Exec Dir

Residential Options of Florida

"We appreciate the accomplishments your organization attains." - Robert Sucher, Executive VP

Sabadell United Bank

“Our partnership with FCLF makes an enormous difference in overcoming the challenge of providing affordable housing." – Jo Ann Nesbitt, President/CEO

St. Jude Great Commission CDC

Our Partners

Support from TD Bank Charitable Foundation helps FCLF build strong communities.

FCLF financing to Housing Programs, Inc. helps provide affordable homes for ownership.

FCLF Board Members represent our investors, borrowers, and technical experts.

TD Charitable Foundation and TD Bank have supported FCLF's mission since 2006.

FCLF staff and supporters volunteer at Million Meals event.

The duPont Fund used FCLF and NMTC Financing to revitalize downtown Jacksonville.

DuPuis Pointe offers affordable, hurricane proof homes in Miami.

FCLF staff and US Legislative staff at an event honoring Youth of the Year.

New rental homes are available for farmworker families at Casa San Juan Bosco.

Nutritious snacks are a part of the healthy focused curriculum at Emma Jewel Charter Academy.

FCLF projects create jobs and stimulate development in low-income communities.

FCLF CEO and one of our supporters visit the ASPIRA Arts Deco school.

Support from Axiom Bank helps FCLF build strong communities.

FCLF staff are active at statewide conferences and events.

Residents at Neighborhood Renaissance's Mathis Place enjoy affordable rent.

FCLF Chief Lending Officer visits with the Executive Director of Neighbor Up (formerly BNDC)

FCLF representatives are ready to talk about your project success.

FCLF Staff are on hand at conferences and events to discuss our programs.

Rep. Ander Crenshaw visited KIPP Jacksonville School

Emma Jewel Charter Academy offers education for the whole child in Brevard County.

FCLF Staff meet and greet friends at an FLACDC event.

ASPIRA of Florida offers education & mentoring with a focus on low-income and Latino students.

FCLF supporter, the Northern Trust Company, hosted a housing roundtable in Sarasota.

The RCRI Conference allows FCLF staff to touch base with our religious supporters.

Rep. Daniel Webster visited FCLF staff.

Catholic Charities, Diocese of Venice, financed the land for farmworker rental housing with FCLF.

FCLF Financing to Neighbor Up Brevard helps provide affordable rental housing.

Greater Heights offers new, safe, affordable rental homes in what was formerly a high crime area.

Neighbor Up, formerly BNDC, offers affordable housing in Brevard County.

FCLF and the NMTC Program renovated a historic building into a small business incubaor.

FCLF and NMTC are creating a new facility for the Boys & Girls Clubs of Manatee County

FCLF projects create jobs and stimulate development in low-income communities.

FCLF staff with Tampa's Chloe Coney at Metropolitan Ministries Tampa.

Support from Valley Bank helps FCLF build strong communities.

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