The award is important for Florida's communities as it enables FCLF to support economically disadvantaged communities and finance projects that otherwise could not proceed.
FCLF's mission based strategy will focus on high social impact projects, such as community health centers, facilities serving homeless and other at-risk populations.
FCLF has financed USD250 million through 250 loans in Florida, making possible over USD850 million in new investments in low-income communities.
Florida Community Loan Fund (FCLF
) is a statewide, nonprofit, multifaceted financing entity providing flexible capital and expertise to low-income communities.
The USD55 million allocation marks the sixth NMTC allocation for FCLF, establishing the nonprofit organization's position as a premier Florida-based practitioner of the federal program.
FCLF CEO, Ignacio Esteban said, "As a mission-based financial institution, we exist to help capital flow to where it is most needed.
FCLF said it will use 100 percent of this NMTC allocation in Florida, bringing high impact projects to severely distressed communities -- which in turn creates jobs, expands the provision of health care and other services to low-income Floridians, and provides access to healthy food options in underserved areas.
Seventy-five percent of that financing was delivered in the last five years alone, indicating how FCLF has responded to the evolving needs in communities across the state.
A common vision and a modest investment of USD1,000 in 1995 helped guide FCLF through two decades.
FCLF CEO Ignacio Esteban said, "Our early investors believed in creating a statewide nonprofit that would serve the capital needs of low income communities in Florida.