Griffin Heights

176 units of multifamily rental housing

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"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 in refinancing our 2 communities." – Jamie Kerr, President, AMCS Development


In rural Florida, there is a great need for affordable rental housing. In Madison and Taylor Counties, two rural counties east of Tallahassee, 30% of the population lives at or below poverty level and household income is 70% of the area median income (AMI). Griffin Heights purchased 2 aging apartment buildings out of bankruptcy in these counties.

Griffin Heights, LLC, is a subsidiary of AMCS Development, a company that owns and manages exclusively multifamily rental properties. AMCS has a plan to upgrade the properties and continue to provide affordable rents to area residents. Renovations to the 1970s buildings will include new roofs, HVAC systems, playgrounds, and remodeling a rental office.

Florida Community Loan Fund (FCLF) provided $2.1 million towards a total loan of $4.2 million for refinance and renovation of these apartment complexes. When the properties were bought out of bankruptcy, there were existing loans requiring refinance or repayment. Other lenders said "No," – it's not our focus, or the market is too small – but FCLF said "Yes." The amount required was larger than our typical loan size, so we reached out to a lending partner – Mercy Loan Fund – who is participating in the loan and providing $2.1 million in financing.

As noted, one modification will be new HVAC units. Prior to renovation, the apartments had strip heating and no air conditioning. Now residents will have energy efficient heating and air conditioning.

Playgrounds will also be added, a real need for these complexes that are occupied primarily by families. “I was at Madison Apartments the day the playground was installed,” said Jamie Kerr of AMCS. “The playground contractor had just finished when the school bus pulled up. To see the excitement on the children’s’ faces when they saw the new playground was priceless.”

This loan is the first for FCLF in Madison and Taylor Counties, and will allow the owner to preserve the affordability of 176 rental apartments for very low-income households. Both complexes are 100% Section 8 properties.

View more photos of Griffin Heights on FCLF's Flickr Page.

Pictured: pre-rehab photos of the 2 Griffin Heights apartments in rural Florida; and a nearly completed playground for families and children.

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“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

“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


"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

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

Dignity Health

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

Neighborhood Renaissance

“Our partnership with FCLF makes an enormous difference in overcoming the challenge of providing affordable housing." – Jo Ann Nesbitt, President/CEO

St. Jude Great Commission CDC

“Expanding our facility with NMTC financing provides the Overtown community resources necessary to provide a fighting chance to break down barriers and break the cycles of poverty.” – Tina Brown, CEO

Overtown Youth Center

"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

"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 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

“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

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

JPMorgan Chase Foundation

"FCLF understood our context, embraced the project vision, and were willing to make an investment that others deemed as too risky." – Lynn Brockwell-Carey, Executive Director

Neighbor Up Brevard

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

Sabadell United Bank

"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

"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

"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

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.