Dear Florida Community Loan Fund Friends,
We are happy to share with you that FCLF has been selected for $30 million in New Markets Tax Credits allocation authority by the US Department of Treasury. The results and awardees were announced today by Deputy Secretary of the U.S. Treasury Neal Wolin. FCLF was the only Florida-based applicant to receive allocation authority during the current round and one of only 70 entities selected nationally out of 314 applicants.
The most recent allocation award cements FCLF’s position as Florida’s most active and accomplished NMTC entity. It marks the fourth time in as many attempts that FCLF has successfully secured this innovative and powerful federal program for use in the Sunshine State.
We would like to thank the following entities which provided investment commitments as part of our application: US Bancorp Community Development Corporation, Fifth Third Bank, Northern Trust Bank, Wells Fargo, SunTrust Bank, Regions Bank, Boynton Beach CRA, City of Jacksonville, Chase Bank, PNC Bank, Bank of America Merrill Lynch, and TD Bank.
The new allocation will allow FCLF to continue to attract more capital and to provide innovative financing options to high impact economic development projects in areas of high distress in Florida. To date FCLF has received $111 million in NMTC allocations (including today’s $30 million) and deployed $71 million in qualified investments to 8 projects.
For more information about the current funding round:
- NMTC Award announcement from CDFI fund
- List of NMTC Award Allocatees from CDFI fund
- CDFI fund NMTC website
Attached is a summary of projects supported by FCLF’s previous NMTC projects. We thank you for your support of the Florida Community Loan Fund.
Ignacio Esteban, Executive Director
Florida Community Loan Fund, Inc.
501 N. Magnolia Ave., Ste 100
Orlando FL 32801-1364
p 407.246.0846 | f 407.246.0856
ignacio@fclf.org
www.fclf.org