Jessie Ball duPont Fund partners with FCLF

27 October 2011

Loans to develop affordable housing in Duval County

Jacksonville Business Journal
Ashley Gurbal Kritzer, Reporter
Date: Thursday, October 27, 2011, 5:03pm EDT

The Jessie Ball duPont Fund is investing $2 million in efforts to develop and preserve affordable rental housing for low-income individuals and families in Duval County.

The $2 million will be loaned to the Florida Community Loan Fund, which will then dole out the money in loans to developers.

The intention is to increase the inventory of affordable rental housing and also to grow the capacity of organizations - nonprofit and for-profit - that provide affordable rental housing in the county.

"Making loans is not the goal here," Sherry Magill, president of the Jessie Ball duPont Fund, said in a news release. "Making loans is a tactic. The goal is to build a system to ensure that folks can afford housing."

The $2 million investment is being made not through grants, but through a program related investment to the Florida Community Loan Fund.

PRIs are investments by a charitable foundation at below-market rates to support organizations that are addressing social or community concerns.

Those interested in one of the loans should contact the Florida Community Loan Fund at 407-246-0846.

Jacksonville Business Journal

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“Expanding our facility with NMTC financing provides the Overtown community resources necessary to provide a fighting chance to break down barriers and break the cycles of poverty.” – Tina Brown, CEO

Overtown Youth Center

"FCLF demonstrates a mission-oriented philosophy that is compatible and supportive, broadens our platform and deepens our portfolio of products and services." – Kent Adcock, CEO

Habitat for Humanity of Lake-Sumter

"Thank you to our friends at FCLF. Your staff has been patient and helpful. We'll make you proud!" – Bill Lazar, Executive Director

St. Johns Housing Partnership

"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

"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

"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

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

BBVA Compass

"We commend the important work of your organization, are glad to support its efforts." – Beverly Dabney

JPMorgan Chase Foundation

"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…

“Thank you so very much for the exceptional services. We truly value FCLF’s contributions to furthering our mission." – Michael L. Bean, CEO

Housing Authority of Brevard County

“We cannot thank FCLF enough for this partnership, creating permanent housing for our neighbors in need, and their commitment to Florida communities.” – Shannon Nazworth, President & CEO

Ability Housing

“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

"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

"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.

"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

"We're thrilled to partner with FCLF to make our project a reality to serve generations of kids in our community." – Dawn Stanhope, President & CEO

Boys & Girls Clubs of Manatee County

“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

“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

“The collaboration with FCLF and using NMTC financing allows us to bring the most ambitious projects to life to benefit the communities we serve.” – Elodie Dorso, President & CEO

Community Health Centers of Pinellas

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

Sister Mary Heyser, RSHM

Our Partners

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

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

FCLF staff and supporters volunteer at Million Meals event.

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

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

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

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

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

Rep. Ander Crenshaw visited KIPP Jacksonville School

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

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

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

FCLF Staff meet and greet friends at an FLACDC event.

Support from Axiom Bank helps FCLF build strong communities.

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

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

FCLF staff are active at statewide conferences and events.

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

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

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

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

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

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

Support from Valley Bank helps FCLF build strong communities.

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

FCLF representatives are ready to talk about your project success.

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

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

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.

DuPuis Pointe offers affordable, hurricane proof homes in Miami.

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

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