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.
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.
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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.
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FLORIDA SCHOOL OF TRADITIONAL MIDWIFERY
The Florida School of Traditional Midwifery (FSM) provides a full curriculum to prepare students to become Florida Liscensed Midwifes. In addition, FSM owns and operates the Birth Center of Gainesville which provides birth services primarily to low- and moderate-income clients. In 2004, FSM used donations from 39 supporters and $505,000 from the Loan Fund to help it acquire a new facility in Gainesville in which it will consolidate its school and its birthing center. For more photos, click here.
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GROVE HOUSE OF JACKSONVILLE
Grove House, Inc., in Jacksonville used two Loan Fund loans of $61,509 and $150,000 as mortgage financing to acqure 4 single family homes to be leased to adults with developmental and acquired disabilities. Grove House's Supported Living Program provides clients with a suburban residential setting to maximize their inclusion in the community, learn life skills and lead more productive lives. A new loan for $200,000 is being used to re-finance 4 more homes and allow Grove House to maintain affordable rents for its clients.
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HOUSING PARTNERSHIP OF JACKSONVILLE
The Housing Partnership of Jacksonville, Inc. was organized and incorporated in February, 1992 following a series of meetings between representatives of local neighborhood groups, businesses, government agencies, and non-profit organizations.
These civic leaders believed that Jacksonville needed a community-based organization, whose function was to develop, operate and coordinate efforts to enhance the availability of safe, clean affordable housing. The Housing Partnership's comprehensive programs include home-ownership counseling, single-family home rehabilitation, emergency and accessibility repairs for low-income residents, and the acquisition and renovation of affordable multi-family properties. When the Partnership consolidated all of its operations into a single site, acquisition financing was provided by Wachovia Bank. The Loan Fund's loan of $75,300 provided financing for renovation of the main building and construction of a second building onsite.
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JACKSONVILLE YOUTH SANCTUARY
Jacksonville Youth Sanctuary ("JYS") has been serving youth in foster care since 1987., Since opening their doors the Sanctuary has having provided housing to over 850 abused, abandoned and neglected young people. since opening their doors. The mission of JYS is to create and provide a safe, nourishing environment where youth in foster care are can live, learn, trust and thrive. Many times, JYS is the "last stop" for these youth before there are no other placement options available for them. This group home setting offers a variety of services: education tutoring, mental health counseling, behavior modification, social skills training, independent living skills training, vocational training, and support and services tailored to meet the individual needs of each child.
With its $320,000 loan from the Florida Community Loan Fund, JYS was able to complete the purchase of a former Ronald McDonald House, allowing JYS to expand ing their current group home program from serving 24 to 48 youth.
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PLEASANT PLACE
Pleasant Place was a start-up organization in 1998 when the Loan Fund assisted it with $37,100 in gap financing. The funds were used to complete the renovation of an old hotel for housing and supportive services to pregnant teens and teenage mothers in the Gainesville area.
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SECOND CHANCE HELP CENTER, INC.
Second Chance Help Center, Inc. (SCHC) began as a small, start-up non-profit that has leading a revitalization effort in a neighborhood on the northside of Jacksonville. The Loan Fund provided $32,000 in funding. Some of the funds were used for repairs to a duplex near its office that it rents to 2 low-income clients of Lutheran Social Services. Additional funding was used to acquire vacant land to build 3 single-family homes in its neighborhood for sales to low-income clients.
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VF AFFORDABLE HOUSING
VF Affordable Housing, Inc. is a joint project of two non-profits: Community Housing Partners, Inc. and the Housing Partnership of Jacksonville. VF Affordable Housing used a Loan Fund loan of $400,000 to help complete the funding needed to acquire an affordable rental complex serving low-income families. Other funding partners included SouthTrust Bank and Jacksonville LISC. The purchase of this property helped to preserve 100 affordable housing units in the Jacksonville area.
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WEALTH WATCHERS, INC.
Wealth Watchers, Inc. is a small, start-up non-profit embarking on its first project. The Loan Fund provided $15,000 in funding to assist with the acquisition and rehab of a townhouse unit for affordable rental housing.
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WM. R. CESERY CO., INC.
In 2008 the Housing Economic and Recovery Act created NSP, the Neighborhood Stabilization Program, to acquire, rehab to “like new” standards, and sell foreclosed, abandoned homes. The Wm. R. Cesery Co. (WRC), with loans from FCLF totaling $1 million, will work with the City of Jacksonville through the NSP program to purchase and rehab 40 to 60 homes for sale to moderate and low income families. This Jacksonville project will help eliminate blight and reduce the deterioration of values in targeted neighborhoods.
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