FCLF Supports NMTC Project, Camillus House Miami

05 September 2012

Camillus House and FCLF StaffFlorida Community Loan Fund (FCLF) is pleased to announce its latest New Markets Tax Credit (NMTC) Project, with Camillus House in Miami. FCLF has now committed more than $100 million in tax credit allocation to nine NMTC projects, all of which have high economic and social impact in low-income neighborhoods, creating both permanent and construction-related jobs. NMTC debt and equity funding for this project was provided by The Northern Trust Company and affiliates.

Camillus House, Miami, FL
Total Project: $37.4 million
FCLF NMTC Allocation: $20 million
Camillus House has provided services to homeless and at-risk clients in Miami-Dade for 52 years from 12 locations. The organization is relocating to the Norwegian Cruise Line Campus of Camillus House, a campus of 7 buildings, 3 of which are funded through this NMTC project. This new and more efficient facility will expand existing programs that include temporary and transitional housing, job readiness, meals, and mental health services. When completed it is estimated that the new human services campus will annually serve over 3,000 clients. The project will also create 100 permanent jobs, 300 temporary jobs and retain 50 permanent jobs. Located on a vacant city center site that has been empty for years, the project will be a major social and economic improvement to the neighborhood.

Already under construction, NMTC funding will significantly help to fill the gap in funding needed to complete the project alongside other public and private support. The campus is also the site of an 80-unit affordable rental housing project, Shepherd’s Court. In all, the 7 buildings on the campus will cost a total of $84 million to construct.

“The Camillus House project is a shining example of what can be done through the NMTC Program,” said Nelson Black, Director of Lending for the Florida Community Loan Fund. “We at FCLF are pleased to be working with this organization as they provide needed services and create jobs in their economically distressed area.”

The NMTC Program was created by Congress in 2000 to encourage economic investment in very low-income communities. Since that time, over $45 billion in private capital has been invested nationally through the NMTC Program, helping to create or retain 300,000 jobs while providing low-income residents access to quality education, health care, job training, and critical retail services in their communities.

camillus-apr2012-300x200FCLF was the first Florida-based entity to receive a NMTC allocation. To date it has secured a total of $111 million in allocation authority. FCLF’s NMTC program is dedicated to improving low-income communities through projects with a broad social impact.


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For more information on Camillus House, visit www.camillus.org.

OUR VISION: Every community in Florida is productive and sustainable.
OUR MISSION: The Florida Community Loan Fund harnesses the power of financial capital and human creativity to transform lives and communities.

About the Florida Community Loan Fund. FCLF provides flexible capital and technical assistance, primarily to nonprofit organizations working in community development, through its three financing programs: Community Development Fund, Florida Preservation Fund, and New Markets Tax Credits. Since it began lending in 1996, FCLF has originated more than $100 million in low-cost credit to projects throughout Florida and has leveraged an additional $360 million in loans and grants from various public and private sources for those projects. FCLF has a broad range of investors including most major financial institutions operating in Florida, individuals, religious investors, national foundations and trade associations. FCLF is certified both as a Community Development Financial Institution and a Community Development Entity, and is a member of Opportunity Finance Network. 

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JPMorgan Chase Foundation

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St. Jude Great Commission CDC

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Community Health Centers of Pinellas

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BankUnited

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Cade Museum for Creativity & Inventi…

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Third Federal Savings

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Jessie Trice Community Health

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Residential Options of Florida

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BBVA Compass

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Housing Programs, Inc.

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Boys & Girls Clubs of Manatee County

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FCLF representatives are ready to talk about your project success.
FCLF representatives are ready to talk about your project success.
FCLF staff with local supporters at Metropolitan Ministries Tampa.
FCLF staff with local supporters at Metropolitan Ministries Tampa.
Rep. Ander Crenshaw visited KIPP Jacksonville School
Rep. Ander Crenshaw visited KIPP Jacksonville School
FCLF staff and supporters volunteer at Million Meals event.
FCLF staff and supporters volunteer at Million Meals event.
FCLF projects create jobs and stimulate development in low-income communities.
FCLF projects create jobs and stimulate development in low-income communities.
FCLF and the NMTC Program renovated a historic building into a small business incubaor.
FCLF and the NMTC Program renovated a historic building into a small business incubaor.
Greater Heights offers new, safe, affordable rental homes in what was formerly a high crime area.
Greater Heights offers new, safe, affordable rental homes in what was formerly a high crime area.
ASPIRA of Florida offers education & mentoring with a focus on low-income and Latino students.
ASPIRA of Florida offers education & mentoring with a focus on low-income and Latino students.
New rental homes are available for farmworker families at Casa San Juan Bosco.
New rental homes are available for farmworker families at Casa San Juan Bosco.
FCLF projects create jobs and stimulate development in low-income communities.
FCLF projects create jobs and stimulate development in low-income communities.
FCLF financing to Housing Programs, Inc. helps provide affordable homes for ownership.
FCLF financing to Housing Programs, Inc. helps provide affordable homes for ownership.
TD Charitable Foundation and TD Bank have supported FCLF's mission since 2006.
TD Charitable Foundation and TD Bank have supported FCLF's mission since 2006.
Neighbor Up, formerly BNDC, offers affordable housing in Brevard County.
Neighbor Up, formerly BNDC, offers affordable housing in Brevard County.
FCLF Financing to Neighbor Up Brevard helps provide affordable rental housing.
FCLF Financing to Neighbor Up Brevard helps provide affordable rental housing.
Rep. Daniel Webster visited FCLF staff.
Rep. Daniel Webster visited FCLF staff.
FCLF Staff are on hand at conferences and events to discuss our programs.
FCLF Staff are on hand at conferences and events to discuss our programs.
FCLF and NMTC are creating a new facility for the Boys & Girls Clubs of Manatee County
FCLF and NMTC are creating a new facility for the Boys & Girls Clubs of Manatee County
The duPont Fund used FCLF and NMTC Financing to revitalize downtown Jacksonville.
The duPont Fund used FCLF and NMTC Financing to revitalize downtown Jacksonville.
FCLF supporter, the Northern Trust Company, hosted a housing roundtable in Sarasota.
FCLF supporter, the Northern Trust Company, hosted a housing roundtable in Sarasota.
FCLF Board Members represent our investors, borrowers, and technical experts.
FCLF Board Members represent our investors, borrowers, and technical experts.
Nutritious snacks are a part of the healthy focused curriculum at Emma Jewel Charter Academy.
Nutritious snacks are a part of the healthy focused curriculum at Emma Jewel Charter Academy.
FCLF staff are active at statewide conferences and events.
FCLF staff are active at statewide conferences and events.
Residents at Neighborhood Renaissance's Mathis Place enjoy affordable rent.
Residents at Neighborhood Renaissance's Mathis Place enjoy affordable rent.
FCLF CEO and one of our supporters visit the ASPIRA Arts Deco school.
FCLF CEO and one of our supporters visit the ASPIRA Arts Deco school.
The RCRI Conference allows FCLF staff to touch base with our religious supporters.
The RCRI Conference allows FCLF staff to touch base with our religious supporters.
FCLF Staff meet and greet friends at an FLACDC event.
FCLF Staff meet and greet friends at an FLACDC event.
FCLF staff and US Legislative staff at an event honoring Youth of the Year.
FCLF staff and US Legislative staff at an event honoring Youth of the Year.
DuPuis Pointe offers affordable, hurricane proof homes in Miami.
DuPuis Pointe offers affordable, hurricane proof homes in Miami.
Emma Jewel Charter Academy offers education  for the whole child in Brevard County.
Emma Jewel Charter Academy offers education for the whole child in Brevard County.
FCLF Chief Lending Officer visits with the Executive Director of Neighbor Up (formerly BNDC)
FCLF Chief Lending Officer visits with the Executive Director of Neighbor Up (formerly BNDC)
Support from Axiom Bank helps FCLF build strong communities.
Support from Axiom Bank helps FCLF build strong communities.
Support from Valley Bank helps FCLF build strong communities.
Support from Valley Bank helps FCLF build strong communities.
Support from TD Bank Charitable Foundation helps FCLF build strong communities.
Support from TD Bank Charitable Foundation helps FCLF build strong communities.
Catholic Charities, Diocese of Venice, financed the land for farmworker rental housing with FCLF.
Catholic Charities, Diocese of Venice, financed the land for farmworker rental housing with FCLF.
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Core Purpose FCLF exists to maximize opportunities for people and places outside of the economic mainstream.
Our Vision Opportunity and dignity exist for every person and community in Florida.
Our Mission Our expertise and capital make projects successful and help organizations improve lives and communities.