NMTC Coalition Releases 2019 NMTC Progress Report

26 July 2019

NMTC 19 Progress ReptThe New Markets Tax Credit Coalition has released its 2019 NMTC Progress Report, providing analysis of NMTC activities across the U.S. The report documents the importance of the NMTC in providing patient, flexible capital to businesses and projects located in distressed rural and urban communities, thereby creating jobs and growing business opportunities.

The New Markets Tax Credit (NMTC) Program was created by Congress to encourage the flow of investments into low-income communities. Since inception in 2003, NMTC has delivered  $95 billion in capital, creating or retaining more than 1 million jobs. NMTC project investments generally serve communities exhibiting severe economic distress, including unemployment rates of more than 1.5 times the national average, poverty rates of 30% or more, or areas where household income is at or below 60% of AMI. NMTC is currently authorized by Congress through December 2019.

Florida Community Loan Fund (FCLF) has secured a cumulative total of $316 million in New Markets Tax Credits allocation and continues to be the only Florida-based recipient with a significant track record in sourcing and closing NMTC transactions. FCLF uses NMTC to support locally determined, high priority, large scale projects of measurable economic and social benefit.

This year’s NMTC Progress Report features Boys & Girls Clubs of Manatee County new DeSoto Club facility on the cover and as a featured story, financed through Florida Community Loan Fund and the New Markets Tax Credit program. The DeSoto Club will reach an estimated 2,400 youth and children each year with a focus on academic excellence, good character and citizenship, and healthy lifestyles. Learn more about the DeSoto Club in this story and in this video.

Learn more about the 2019 NMTC Progress Report here.
Download the full report here.

"I appreciate FCLF for lending in rural areas, where many other lenders are exiting. From the first moment we spoke with FCLF staff, we felt we had a partner." – Jamie Kerr, President, AMCS Dev.

Griffin Heights

"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

"Our partnership with FCLF helps the American Dream of homeownership come true." – Michael Roberts, Exec Dir

R.E.A.C.H.

"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

"BankUnited understands the challenges facing our communities; we applaud FCLF's efforts. Thank you for making our community a better place to live." – Katrina Wright, VP Comm. Dev.

BankUnited

"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

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

BBVA Compass

“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

"When nobody else would take a chance on us, FCLF did. Woodlawn is thriving today and we will always be grateful for your part in that.." – PeterTollefson, Dean of Students

Woodlawn Community Academy

“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 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

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

JPMorgan Chase Foundation

"Our relationship with FCLF provides the capital to achieve long-lasting impact." – Terri Murray, Exec Dir

Neighborhood Renaissance

"FCLF has a keen knowledge of Florida challenges & opportunities. We are confident our investment will be used to improve lives." – Kathleen Rizzo Young, Sr. VP, Community Development

HSBC Bank USA, N.A.

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

Metropolitan Ministries

"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

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

Sabadell United Bank

"We are delighted to partner with you to serve those most in need in our communities." – Eileen S. Coogan, President & CEO

Allegany Franciscan Ministries

"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

“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

Our Partners

FCLF and Florida Housing Coalition
FCLF representatives are ready to talk about your project success.
Greater Heights Resident
FCLF Financing to Neighbor Up Brevard helps provide affordable rental housing.
MTZ Carver Construction
FCLF projects create jobs and stimulate development in low-income communities.
Million Meals 2012
FCLF staff and supporters volunteer at Million Meals event.
KIPP Jacksonville
Rep. Ander Crenshaw visited KIPP Jacksonville School
Emma Jewel Academy and FCLF
Emma Jewel Charter Academy offers education for the whole child in Brevard County.
BNDC Greater Heights
Greater Heights offers new, safe, affordable rental homes in what was formerly a high crime area.
Mathis Place Resident
Residents at Neighborhood Renaissance's Mathis Place enjoy affordable rent.
FCLF at Florida Housing Conference
FCLF Staff are on hand at conferences and events to discuss our programs.
TD Charitable Foundation, TD Bank
TD Charitable Foundation and TD Bank have supported FCLF's mission since 2006.
FCLF and Rep. Webster
Rep. Daniel Webster visited FCLF staff.
DuPuis Pointe Miami
DuPuis Pointe offers affordable, hurricane proof homes in Miami.
Casa San Juan Bosco and FCLF
New rental homes are available for farmworker families at Casa San Juan Bosco.
FLACDC Conference
FCLF Staff meet and greet friends at an FLACDC event.
Boys & Girls Clubs of Manatee
FCLF and NMTC are creating a new facility for the Boys & Girls Clubs of Manatee County
Emma Jewel Charter Academy
Nutritious snacks are a part of the healthy focused curriculum at Emma Jewel Charter Academy.
Haley Park Construction
FCLF projects create jobs and stimulate development in low-income communities.
Axiom Bank
Support from Axiom Bank helps FCLF build strong communities.
FCLF at Florida Housing Conference
FCLF staff are active at statewide conferences and events.
Valley Bank
Support from Valley Bank helps FCLF build strong communities.
TD Bank Charitable Foundation
Support from TD Bank Charitable Foundation helps FCLF build strong communities.
Boys & Girls Clubs of Manatee
FCLF staff and US Legislative staff at an event honoring Youth of the Year.
ASPIRA of Florida and FCLF
FCLF CEO and one of our supporters visit the ASPIRA Arts Deco school.
Housing Programs, Inc.
FCLF financing to Housing Programs, Inc. helps provide affordable homes for ownership.
ASPIRA of Florida Aspirantes
ASPIRA of Florida offers education & mentoring with a focus on low-income and Latino students.
FCLF Board and Staff
FCLF Board Members represent our investors, borrowers, and technical experts.
Northern Trust Roundtable
FCLF supporter, the Northern Trust Company, hosted a housing roundtable in Sarasota.
RCRI Conference 2012
The RCRI Conference allows FCLF staff to touch base with our religious supporters.
Armature Works
FCLF and the NMTC Program renovated a historic building into a small business incubaor.
duPont Fund and FCLF
The duPont Fund used FCLF and NMTC Financing to revitalize downtown Jacksonville.
Neighbor Up, Affordable Housing
Neighbor Up, formerly BNDC, offers affordable housing in Brevard County.
Neighbor Up and FCLF
FCLF Chief Lending Officer visits with the Executive Director of Neighbor Up (formerly BNDC)
Metro Min Grand Opening
FCLF staff with local supporters at Metropolitan Ministries Tampa.
Casa San Juan Bosco and 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.