Florida Community Loan Fund (FCLF), a nonprofit Community Development Financial Institution (CDFI), announced it will deploy $260 million by 2028 to finance affordable housing and community facility projects that support low-income individuals and communities in Florida.Â
FCLF will achieve this by generating $125 million in new lending for real estate-related developments that increase opportunities for low-income Florida residents and by closing $135 million in tax credit investments – such as the New Markets Tax Credit (NMTC) program – to finance community facilities in economically distressed communities.
FCLF was recently awarded a $75 million NMTC allocation from the U.S. Department of Treasury’s CDFI Fund. To date, FCLF has delivered more NMTC financing in Florida than any other group in the nation.
FCLF has directed $825 million in financing and leveraged $1.56 billion more in capital from other sources to support the creation of over 9,000 affordable housing units and 197 community facilities statewide. Borrowers include nonprofits, mission-focused for-profit developers, housing authorities, and other impact-focused community development organizations.
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