Community Asset Preservation Corporation

$4.1 million FCLF financing (3 loans)
Line of credit for acquisition and rehab
57 affordable homes for home ownership or rental


After the housing bubble burst in 2008, Florida was left with record numbers of foreclosed homes, many of which eventually became vacant, lowering property values and inviting theft and vandalism. Now as the economy recovers, organizations are working to revitalize neighborhoods by buying and renovating these vacant properties. One such organization is Community Asset Preservation Corporation, CAPC.

CAPC began operating in its home state of New Jersey in 2009, with an initial purchase of 47 foreclosed homes in Essex County, renovating them for sale or rent to low- to moderate-income families. Since then, CAPC has acquired, rehabbed, and returned to use over 500 housing units. CAPC recently expanded its programs to the Tampa Bay area, and turned to Florida Community Loan Fund for financing.

With a $2 million line of credit from Florida Community Loan Fund, CAPC will purchase homes from pools of non-performing mortgage loans, perform a quality renovation, and return them to active use either as rental properties or for home ownership. CAPC is partnering with a local nonprofit, UNO Federation Community Services, to help manage the renovations, list the properties for sale, provide homeownership counseling, and manage rental properties. UNO is committed to assisting low- and medium-income families, minorities, and underserved citizens, both with jobs during the construction phase and with homes for purchase or lease.

An additional $2 million line of credit from FCLF will continue CAPC’s work to renovate single family homes and improve communities. This loan will allow CAPC to partner with Crisis Housing Solutions, purchasing and rehabbing homes in Miami-Dade, Broward, and Palm Beach Counties. The program will replicate CAPC’s work in the Tampa area, providing newly refurbished homes for sale or rent to low-income households. A 3rd loan to this partnership entity in 2018 provided for the purchase of land to continue development of affordable housing in Palm Beach County.

CAPC CouncilsCAPC is a subsidiary of New Jersey Community Capital, NJCC, a Community Development Financial Institution (CDFI) based in New Brunswick, New Jersey. CAPC has partnered with CDFIs throughout the country to return foreclosed homes back to active use and thus stabilize neighborhoods. Florida Community Loan Fund is also a CDFI, certified through the U.S. Department of Treasury’s CDFI Fund since 1996. In 2014, FCLF and NJCC were both awarded the Wells Fargo NEXT Award for Opportunity Finance.

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Pictured above and right, typical affordable homes renovated by CAPC and available for sale.

“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

"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 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.

"Without FCLF's support, we would not have been able to deliver the services our area so desperately needs. We look forward to a lifetime relationship." – Tom Griffin, CEO

The Transition House, Inc.

"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


"I recommend FCLF for attracting investment to the Florida Preservation Fund... I believe that says something about investor comfort." – Nancy Muller, Policy Director

Florida Housing Finance Corp.

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

Sister Mary Heyser, RSHM

“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

"We look forward to continuing our successful relationship with FCLF and working together to meet the needs of our communities." – Nancy Merolla, VP/CRA Officer

Florida Community Bank

“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

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

Residential Options of Florida

"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

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

Neighborhood Renaissance

"FCLF has proven its community impact and hard work. We are proud to partner with FCLF." – Leslie Watson, Analyst, Community Investments

Dignity Health

“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

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

JPMorgan Chase Foundation

"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

"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

"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

"Aida Palms will be a lasting asset to the City of Lakeland. This revitalization wouldn't be possible without financing partners like FCLF." – Mitchell Rosenstein, Principal, Green Mills Group

Aida Palms

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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.