SOUTHWEST REGION
$10 Million Total Project
$7 Million FCLF Federal NMTC Allocation
33,175 sq ft of New Construction and Renovation
Community facility to provide services to low-income children and youth
Estimated reach 350 annually
11 Temporary and 35 Permanent Jobs estimated
"Boys & Girls Clubs of Sarasota and DeSoto Counties has proudly served the North Port community for more than 25 years. As we work to rebuild and fully reinstate our award-winning youth development programs, we are sincerely grateful for the outpouring of support we received from the community and our leaders, including those who have been instrumental in helping us navigate opportunities like the NMTC financing." – Bill Sadlo, President & CEO, Boys & Girls Clubs of Sarasota and DeSoto Counties
For more than 50 years, Boys & Girls Clubs of Sarasota and DeSoto Counties has strived to fulfill its mission to enable all young people to reach their full potential as productive, caring, responsible citizens. BGCSDC operates six Clubs in 2 counties, serving over 3,400 youth aged 6 to 18 annually with a wide variety of educational and recreational opportunities that are centered around 5 core disciplines: Character and Leadership, Education and Careers, Health and Life Skills, Arts and Sports, Fitness and Recreation. In addition to year-round school-year and summer programs, BGCSDC provides more than 97,000 snacks and meals to thousands of youth each year.
The Club located in North Port, Florida, formerly served more than 250 youth and had a waitlist for membership. In 2022, the Club was devastated by Hurricane Ian, a destructive Category 5 storm that caused over $19 billion in loss across Florida. The damage required the demolition of the main building, and since that time, only 109 youth could be served at this location from the remaining gymnasium building and temporary portable classrooms.
With financing through Florida Community Loan Fund's New Markets Tax Credit program, Boys & Girls Clubs of Sarasota and DeSoto Counties will build a new 23,000-sq ft Club and renovate another damaged building on the site. This new state-of-the-art Steven and Marjolaine Townsend Campus, home of the Gene Matthews Boys & Girls Club, will enable the organization to serve up to 350 members in North Port with modernized education classrooms, enrichment space, a technology lab, and a cafeteria. In addition, the new Club will accommodate expanded programming, such as a commercial teaching kitchen, a dedicated teen center including a young entrepreneur program, college and career prep center, and more. Without NMTC, the project’s completion would be delayed as other funding comes in.
Florida Community Loan Fund provided $7 million in Federal NMTCs for the project, with additional NMTCs provided by Truist Community Development Enterprises, LLC. The investor is Truist Community Capital, LLC. This transaction was completed in June 2024.
A BGCSDC Task Force committee analyzed the need for a Club in the community. Through a series of strategic meetings with government officials, prominent leaders and donors, and Club families, the determination was reached that the Club will ensure success to be within reach of every young person who walks through the doors. The youth members of BGCSDC are 96% from low-income families, with 24% from homes earning $9,000 or less annually. The University of Michigan has estimated that every dollar invested in members of a Boys & Girls Club returns $9.60 in benefits to the individual and society. The benefits increase earning power for youth and their families in the future, and this saves on societal costs by lowering expenditures such as healthcare, public assistance, and incarceration.
“The Boys & Girls Club in North Port was damaged beyond repair by Hurricane Ian in 2022. Its restoration is a prime example of the benefits of NMTC financing. And now, Boys & Girls Clubs of Sarasota and DeSoto Counties will be able to expand a facility that has for years provided a safe space for dedicated staff to offer a high-quality learning environment for children and youth who may otherwise have nowhere to go.” – Nelson Black, Chief Lending Officer, Florida Community Loan Fund
Community Profile:
- Income 70% of AMI (area median income)
- 10.5% Unemployment Rate (1.27x national average)
- FEMA Disaster Declaration Zone, USDA Food Desert
Pictured: architectural rendering of the new Club upon completion.
