$280,000 FCLF financing
Revolving construction line of credit
Up to 8 single-family affordable homes
“St Jude is very grateful to partner with the Florida Community Loan Fund. This partnership is significant in helping us meet the housing needs of low and moderate income families. Affordable housing remains a challenge in our communities, but we believe our partnership with FCLF makes an enormous difference in overcoming that challenge. We look forward to working with FCLF helping families build generational wealth, and achieving lasting impact in the communities we serve!" – Jo Ann S. Nesbitt, President/CEO
The membership of St. Jude Great Commission Church, located in the Highland Oaks neighborhood of south St. Petersburg, took notice of the economic decline right outside their doors, and decided to take action. In 2016, St. Jude Great Commission Community Development Corporation (St Jude GC CDC) was formed, with the purpose of creating opportunities through efforts that result in expanded economic prosperity and the alleviation of poverty. St. Jude GC CDC focuses on providing affordable housing, attaining life skills, and connecting area residents to employment and entrepreneurship opportunities.
With financing from Florida Community Loan Fund, St. Jude GC CDC is building new affordable homes, available to low- and moderate-income families. The CDC has acquired lots through donations from the City of St. Petersburg’s Affordable Lot Disposition Program. FCLF financing will provide a revolving line of credit for construction of single-family homes, with an anticipated 8 homes completed over two years. St. Jude GC CDC builds homes tailored to the needs of the customer, taking very seriously the financial position of each.
With a grant from Wells Fargo Bank during the 2018-2019 fiscal years, St. Jude GC CDC reached more than 200 households through the “Welcome H.O.M.E. (Home Ownership Made Excellent) Financial Literacy Project”. This helped customers move toward financial stability by providing first time home buyer financial literacy classes, connection to financial counselors, and resources that help with down payment and other closing cost assistance. St. Jude GC CDC is also preparing to offer workshops in home maintenance. All these efforts help the new home buyer not just to attain a home but maintain a home. St Jude GC CDC wants them to be "homeowners for life!"
Pictured, a completed St Jude GC CDC home that sold in 2019.