The Loan Fund ensures that every loan it makes contributes to community development and positive social change. Borrower stories are all about what a difference a loan can make.
BBIF OF CENTRAL FLORIDA
The Loan Fund provided funds to acquire two parcels of vacant property totaling known as the Carver Theatre Site for future development. The proposal for the Carver Theatre site project is to use the land to develop a mixed-use project with three buildings housing 44-55 units of affordable housing for low-income families and ~35,000sf of space for local small businesses. The project is located west of the central business district in the Parramore neighborhood of Orlando.
|
|
|
BREVARD NEIGHBORHOOD DEVELOPMENT CORP.
The former Kennedy Street apartments in the Booker T. Washington neighborhood of Melbourne have been demolished. From the rubble of crime-ridden, drug-infested buildings rises Greater Heights, an attractive, well-constructed apartment complex that offers 18 low-income families and elderly persons hope for a better future. BNDC acquired the property over a 2-year period starting in 2006, with $545,000 financing provided by the Florida Community Loan Fund and additional funds from the City of Melbourne, With the Loan Fund, the City and additional funding from Brevard County and BNDC’s many other supporters, the historic project of Greater Heights is now open and leasing units. BNDC also operates The DOCK, a safe haven after-school program for neighborhood children ages 5-15. For more photos, click here.
|
|
|
CATHOLIC VOLUNTEERS IN FLORIDA, INC.
Catholic Volunteers in Florida, Inc. (CVIF) has operated since 1983 with a mission of providing dedicated volunteers to support the work of non-profit organizations around the state of Florida. Among the non-profits currently being served are: Farmworkers Association of Apopka, Covenant House (for homeless youth) and Second Harvest Food Bank in Orlando, Mercy Hospital’s San Juan Outreach Center in the Little Havana area of Miami, I.M. Sulzbacher Center (emergency homeless shelter) in Jacksonville, and Catholic Charities in Tampa, Orlando and Boca Raton. Volunteers are providing their skills as teachers, counselors and attorneys to serve the low-income clients of these non-profits. The Loan Fund provided a $15,000 working capital line of credit to bridge timing differences between expenditures and receipt of fee or pledge income.
|
|
|
CENTER FOR AFFORDABLE HOUSING
The Center for Affordable Housing, Inc. has received four loans from the Loan Fund. The first loan of $146,500 was used to to acquire and renovate 2 duplex homes in Sanford to provide quality rental housing for low-income households. The second loan of $355,000 was used to acquire and rehab 6 single-family homes for transitional housing for low-income clients who are victims of domestic violence. The third loan was to acquire and rehab a property in Orange County for resale to a low-income homebuyer. FCLF has also provided $4,000 in emergency hurricane funding.
|
|
|
|
CENTER FOR MULTI-CULTURAL WELLNESS
The Center for Multi-Cultural Wellness used its $12,000 bridge loan as working capital while waiting for government grant reimbursements. The Center provides essential community health services including outreach and education on HIV/AIDS and cancer screening among low-income ethnic communities.
|
|
|
CENTRAL FLORIDA COMMUNITY DEVELOPMENT CORPORATION
Central Florida Community Development Corporation (CFCDC) is a non-profit organization founded in 1982 to provide affordable housing, stimulate investment in distressed communities, and improve the quality of life for low to moderate income households. CFCDC has been an FCLF borrower since 2003. With an FCLF revolving line of credit of $325,000, Central Florida CDC constructed homes which were sold to low-income families in Volusia and Brevard Counties. Additional lending of $625,000 in 2007 allowed CFCDC to expand its affordable housing development to St. Johns County. In addition, FCLF provided $250,000 to assist CFCDC in purchasing a building in Cocoa to provide small business services. FLCF also provided $20,000 in emergency hurricane funding.For more photos, click here.
|
|
|
COALITION FOR THE HUNGRY & HOMELESS OF BREVARD
Since 1995, the Coalition for the Hungry and Homeless of Brevard (CHH) has acquired through lease, purchase and renovation, over 100 housing units for the program’s participants. This housing consists of transitional units, permanent units for disabled persons, and homes for homeless and disabled veterans.
With 9 loans totaling $965,000 from Florida Community Loan Fund, CHH has acquired and rehabilitated homes and developed an apartment complex in north Brevard County, in areas that allow veterans to live near shopping, medical and social services, and other resources. Since 2001, FCLF has provided lines of credit, pre-development loans, and acquisition loans, as well as construction funding, for CHH. For additional photos, click here.
|
|
|
FLORIDA GREEN COMMUNITIES™ INITIATIVE
FCLF and Enterprise Foundation have agreed to double their original commitment and will now supply up to $12 million in loan capital to help stimulate the development of affordable housing in Florida communities. In addition, FCLF’s financing will include special, lower-cost funding available through the Florida Green Communities ™ Initiative. The Initiative will also provide grant funding to qualified non-profits.
|
|
|
GRAND AVENUE ECONOMIC COMMUNITY DEVELOPMENT CORPORATION
Grand Avenue Economic Community Development Corporation (GEDC) is a non-profit organization that provides affordable housing to low-income homeless persons in the Central Florida area. The Loan Fund provided $500,000 to assist in the acquisition and rehab of a hotel facility into SRO housing for 73 very-low income homeless clients in a supportive environment.
|
|
|
GREATER OCALA COMMUNITY DEVELOPMENT CORPORATION
Greater Ocala Community Development Corporation (GOCDC) has operated since 1994. GOCDC’s mission is providing services to low-income families through affordable housing, job training and small business training, and micro-lending services. The Loan Fund provided $80,000 to GOCDC to acquire land and three buildings and renovate them. The main building will provide offices for GOCDC and serve as a business incubator. A duplex on the property will provide affordable rental housing. A small third building on the property is rented to the local office of the NAACP.
|
|
|
HANDS OF CENTRAL FLORIDA
Housing and Neighborhood Development Services (HANDS) of Central Florida was founded to assist Central Florida communities to increase the supply and availability of affordable housing, both rental and ownership. As a Community Housing Development Agency (Federally Approved Housing Developer), HANDS develops affordable single- and multi-family housing units.
HANDS owns over 880 affordable rental units in three counties, and builds 5-10 single family homes on scattered lots annually. HANDS is currently developing single-family homes in Kissimmee for sale to low-income families that emphasize attractive design features and high-quality construction. A revolving line of credit from FCLF in 2008 for $590,000 allows HANDS to acquire lots and build these homes. For more photos, click here.
|
|
|
OCALA HOUSING AUTHORITY
The Ocala Housing Authority was formally created in 1973. In 1999, OHA became a unique entity – one of the few housing authorities around the country to be designated a 501c3 non-profit.
Recognizing the need to expand the availability of low-income rental units, OHA has embarked upon a new project, called the King's Landing. A $375,000 loan from FCLF along with $300,000 in SHIP funding from the Marion County Community Services and $735,000 from HUD helped provide financing for the acquisition of a run-down rental property, permitting its rehabilitation and providing 22 of desperately needed affordable housing for low-income residents of Marion County.
|
|
|
PALMETTO PLACE BY MID-FLORIDA HOUSING PARTNERSHIP
Palmetto Place (PP) has operated with a mission of providing supportive social services to homeless clients recovering from chemical dependency since 1996. Now a subsidiary of Mid-Florida Housing Partnership, Palmetto Place provides case management to over 130 clients annually thorough its residential substance abuse treatment facility. The Loan Fund provided $125,000 in low-cost funding to Palmetto Place to renovate a portion of the building and reduce the organization's debt expense. To view more photos, click here.
|
|
|
TRANSITION HOUSE
The Transition House in Osceola County is a long-term, high quality treatment center that opened in 1993 with a 12 bed halfway house, and today provides case management, housing and supportive services for over 600 clients. The Transition House has been an FCLF borrower since 2002, with total loans over $1.6 million. These fund have been used to acquire and renovate facilities into supportive housing. For more photos, click here.
|
|
|
|
|
