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.

"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 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

"Thanks to FCLF, we are one step closer to providing a permanent housing solution for veterans and others seeking quality housing at an affordable price." – Carrie Davis, Executive Director

Wealth Watchers

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

Sabadell United Bank

"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.

"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

“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 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

“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 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.

"We couldn't achieve our mission of creating strong neighborhoods without FCLF's help. Their staff is always friendly, quick to respond, and efficient." – Bonnye Deese, Executive Director

BAND

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

Neighborhood Renaissance

"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…

"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

“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

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

JPMorgan Chase Foundation

"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

Our Partners

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