NMTC Coalition Releases 2019 NMTC Progress Report

26 July 2019

The 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.

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"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

“We are proud to partner with FCLF on this project, which expands access to innovative, quality, comprehensive primary healthcare in our communities.” – Annie Neasman, President & CEO

Jessie Trice Community Health

"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 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 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 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

"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…

“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

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

Residential Options of Florida

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

Sabadell United Bank

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

JPMorgan Chase Foundation

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

Metropolitan Ministries

“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

"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 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

"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

"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

"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 Partners

FCLF representatives are ready to talk about your project success.

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

FCLF staff are active at statewide conferences and events.

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

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

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

Support from Valley Bank helps FCLF build strong communities.

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.

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

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

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

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

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

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

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

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

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

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

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

Support from Axiom Bank helps FCLF build strong communities.

DuPuis Pointe offers affordable, hurricane proof homes in Miami.

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

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

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

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

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

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

Rep. Ander Crenshaw visited KIPP Jacksonville School

FCLF staff and supporters volunteer at Million Meals event.

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

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

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

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