2024 Annual Report Welcome

Together with our supporters and partners, Florida Community Loan Fund continues to drive positive economic and social change in Florida as we provide flexible capital that improves lives and communities and fosters success for our borrowing partners.

In this year’s Annual Report, we share inspiring stories from the communities that are strengthened by the work we are doing, and we invite you to dream of the future we can build together for Florida.

Learn More in our 2024 Annual Report

STRENGTHENING FLORIDA COMMUNITIES & BUILDING FUTURES

WITH AFFORDABLE HOUSING

Hope Partnership, Osceola County

Hope Partnership began in 2011 with a plan to serve 200 families facing the shortage of affordable housing; the need quickly grew to more than 1,000 households. Today, Hope Partnership offers an array of services and emergency relief to families in poverty and experiencing homelessness in Osceola County. FCLF financing helped acquire the former Crown Motel on Highway 192 in Kissimmee and will rehab the motel into Thrive Studios, offering 32 units of affordable housing for rent through an innovative trauma-informed property management program. The hotel lobby will be transformed into a community center providing case management, ID procurement, employment assistance, showers and laundry, and more.

FCLF IMPACT: $1 million FCLF financing, featuring a low interest rate made possible through the Capital Magnet Fund • $5 million total project budget • loan for acquisition and renovation of an outdated motel • 32 units of affordable rental housing + drop-in community service center

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Seven on Seventh, Fort Lauderdale

Fort Lauderdale’s Sistrunk neighborhood is one of many undergoing significant growth, but lacking enough affordable housing for area residents. Seven on Seventh is a 72-unit apartment community developed in Sistrunk through a collaboration between Broward Partnership for the Homeless and Green Mills Group. Its location adjacent to the Broward Partnership Homeless Assistance Center offers swift transition to stable housing for those in the area facing homelessness. Half of the apartments are reserved for homeless or those at risk of homelessness, and half are offered for workforce households, such as teachers and others who meet income requirements. FCLF provided financing for construction; our 5th project with Green Mills Group.

FCLF IMPACT: $1 million FCLF financing, featuring a low interest rate made possible through the Capital Magnet Fund • $28.7 million total project budget • 72 units of affordable rental housing • provides housing in partnership wth homeless services agency located on adjacent property

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Griffin Lofts, Lakeland

Like many other Florida communities, Lakeland is working to expand affordable housing options to meet the growing needs of the community. Carrfour Supportive Housing is building Griffin Lofts in Lakeland, a new affordable and supportive housing community with 60 available rental apartments. Half of the units will be reserved for households that have experienced homelessness or adults with disabilities and will include on-site supportive services. The remaining units will be affordable for low-income households, with affordability guaranteed for at least 50 years. Florida Community Loan Fund provided financing for the construction of Griffin Lofts, one of many projects we have partnered on with Carrfour Supportive Housing.

FCLF IMPACT: $7 million FCLF financing • $24 million total project budget • loan for new construction • 60 units of affordable and supportive rental housing

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Catchlight Crossings, Orlando

Catchlight Crossings, located in the heart of Central Florida’s world-renowned tourist destination, will offer affordable rental housing and commercial-retail-nonprofit space. Developed by Wendover Housing Partners, LLC, 75% of the community’s apartments will be reserved for households with incomes at or below 60% of the area median income; providing much-needed affordable housing in an area including many minimum-wage households who work every day in the tourism industry. Florida Community Loan Fund provided financing for infrastructure and construction of Catchlight Crossings, wth additional financing from local, State, Federal, and private sources.

FCLF IMPACT: $8.5 million FCLF financing, featuring a low interest rate made possible through the Capital Magnet Fund • $350 million total project budget • construction and infrastructure financing • 1,000 units of affordable rental housing + 72,000 sq feet of community space

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STRENGTHENING FLORIDA COMMUNITIES & BUILDING FUTURES

WITH ESSENTIAL SERVICES

Metropolitan Ministries MiraclePlace Pasco

Metropolitan Ministries, founded in 1972 when 13 area churches joined together, serves over 100,000 families annually with homeless services and housing in Hillsborough, Pinellas, and Pasco Counties. MiraclePlace Pasco is growing an existing campus with new construction of 3 buildings and expansion of an existing building. The project will address shelter and housing needs for families and single women, seeking to prevent homelessness and providing tools to overcome barriers to self-sufficency. FCLF provided New Markets Tax Credit allocation and construction financing for the project. The investor is Chase Community Equity, LLC, and additional NMTCs were provided by Chase New Markets Corporation and The Reinvestment Fund, Inc.

FCLF IMPACT: $13 million FCLF NMTC allocation + $3.7 million FCLF community development financing • $23.3 million total project budget • 43,800 sq feet of new construction or renovated space • estimated reach 20,100 annually with services and housing to families experiencing or at risk of homelessness • 119 jobs created or retained

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Boys & Girls Clubs of Sarasota and DeSoto Counties

Boys & Girls Clubs of Sarasota and DeSoto Counties has served the area for more than 50 years, enabling young people to reach their full potential as productive, caring, responsible citizens. In 2022, Hurricane Ian caused crippling damage to the North Port Club, reducing the space available for services and creating a waiting list for many area families. With New Markets Tax Credit financing through FCLF, BGCSDC is rebuilding the damaged building and constructing a new building with modernized classrooms, a technology lab, enrichment space, a teaching kitchen, a teen center, and more. The Club’s members are 96% from low-income families, with a quarter of these households earning $9,000 or less annually. The new facility will expand services for these area youth and create jobs.

FCLF IMPACT: $7 million FCLF NMTC allocation • $10 million total project budget • 33,175 sq feet of new construction and renovated space • estimated reach 250 annually • 46 jobs created or retained

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The Sharing Center, Sanford

The Sharing Center has become a cornerstone of social services in Seminole County, evolving and adapting to community needs since 1986. With a mission to provide dignified solutions for individuals experiencing poverty and homelessness, The Sharing Center provides not only immediate relief but also tools and resources for long-term self-sufficency and improved quality of life. FCLF financing helped renovate the retail space and thrift store that provides a shopping alternative for clients and an income stream for other programs, such as job training, financial education, a food pantry, crisis support including financial assistance, and a homeless respite center. This renovation project significantly increases the organization’s capacity to reach those in need.

FCLF IMPACT: $1.1 million FCLF financing • loan for rehabilitation of commercial-retail and nonprofit services space • 18,000 sq feet for services to low-income and homeless populations

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STRENGTHENING FLORIDA COMMUNITIES & BUILDING FUTURES

WITH HURRICANE RECOVERY LOANS

When a hurricane strikes, many Florida Community Loan Fund borrowers face a double-edged crisis: their damaged facilities require immediate repair to restore services for low income populations relying on their assistance – many of whom need help now more than ever – yet tight operating budgets make funding repairs while awaiting insurance proceeds virtually impossible.

FCLF’s Hurricane Recovery Loan Program has been enacted 5 times since the 2017 hurricane season. Through this crisis loan program, we are able to quickly deploy hurricane recovery loans, aiding our borrowers in their efforts to rehabilitate and reconstruct their damaged properties. Unsecured, 0% interest, working capital loans are made available through an expedited application process with no application fees. Within days after a hurricane hits, FCLF loan officers reach out to all borrowers and the first recovery loans are delivered within two weeks. Florida Community Loan Fund's hurricane recovery loan program is in place for future hurricane seasons, ready to help rebuild and strengthen our communities.

FCLF Hurricane Recovery Loan Impact

FCLF IMPACT: $2,775,500 FCLF financing for hurricane repairs or working capital • 27 hurricane recovery loans • Zero cost to borrowers

Cumulative through FY2024

Community Assisted & Supported Living • providing housing and services for adults with disabilities in Southwest Florida • $650,000 financing (4 loans) through FCLF hurricane recovery loan program • roof replacement on 28 properties and additional roof repairs.

Pathway 2 Success • building and renovating affordable housing for sale and for rent in Pinellas County • $150,000 financing through FCLF hurricane recovery loan program • roof replacement at multiple homes and tree removal.

Bishop Museum of Science & Nature • museum in Southwest Florida focusing on youth education and outreach to low-income families • $150,000 financing through FCLF hurricane recovery loan program • repairs to multiple building roofs and gutters.

Autism Inspired Academy • providing individualized education for special needs students through a campus in Pinellas County • $150,000 financing through FCLF hurricane recovery loan program • repairs to auditorium roof, fences, drainage system, HVAC.

OUR IMPACT

$721 Million

financed

8,623

housing units

185

community facilities

26,595

jobs created or retained

2,252,171

Floridians reached annually with services

SEE ALL IMPACT

FINANCIAL RESULTS 2024

Summary Statement of Financial Position

Summary Statement of Activities

Loan Portfolio by Sector

portfolio by sector 2023

Summaries based on 2024 Audited Financial Statements.

INVESTORS AND SUPPORTERS

Religious Organizations • Adrian Dominicans • Archdiocese of Miami • Diocese of Palm Beach • Diocese of Venice • Mercy Partnership Foundation • Oblates of St. Francis de Sales • Religious Communities Impact Fund • Religious of the Sacred Heart of Mary, In Memory of Sr. Mary Heyser • School Sisters of Notre Dame (Maryland) • Sinsinawa Dominican Sisters • Sisters of Charity of Nazareth • Sisters of Charity of St. Elizabeth • Sisters of Providence • Sisters of St. Francis of Philadelphia • Sisters of the Blessed Sacrament • Sisters of the Holy Names of Jesus and Mary • Sisters of the Sacred Heart of Mary • Trinity Health • Union for Reform Judaism

Financial Institutions and Corporations • Amerant • Banesco USA • Bank of America • BankUnited • BMO Harris Bank • Comerica Bank • EverBank • FineMark National Bank & Trust • Fifth Third Bank • First Citizens Bank • First Horizon Bank • First Republic Bank• Florida Capital Bank • HSBC Bank USA, NA • Northern Trust • PNC Bank • Raymond James Bank • Regions Bank • Santander Bank • Seaside National Bank & Trust • SouthState Bank • Synovus Bank • TD Bank • Third Federal Savings & Loan • Truist Bank • Trustco Bank • United Community Bank • US Bancorp Community Development Corporation • US Bank, NA • Valley Bank • Wells Fargo Bank • Woodforest National Bank

Foundations • Bank of America Foundation • The Erich and Hannah Sachs Foundation • The Father's Table Foundation • Florida Blue Foundation • Health Foundation of South Florida • JPMorgan Chase Foundation • PNC Foundation • TD Charitable Foundation • Wells Fargo Foundation

Nonprofit Organizations • Good to Grow Fund • Opportunity Finance Network

Government Agencies • Community Development Financial Institution (CDFI) Fund of the U.S. Department of the Treasury

Individuals • G. Dawson • M. & V. Simmons

Includes investors and supporters for the past three years.

FCLF BOARD OF DIRECTORS

Tina Brown, Chair. CEO, OYC Miami
Germaine Smith-Baugh, Vice Chair. President & CEO, Urban League of Broward County
Alecia Dillon, Treasurer. CFO, Health Foundation of South Florida
Victor Rivera, Secretary. VP of Lending, Civic Builders
Claire Raley, Immediate Past Chair.

Alfred Arzuaga, President, Orlando Neighborhood Improvement Corporation, Inc.
Lauren Butler, Impact Financing Intitiative Relationship Manager, Truist Bank
Ernest Coney, Jr., President & CEO, CDC of Tampa
Annie Neasman
David R. Punzak, Esquire
John Talmage, Director, Lee County Economic Development Office

Pictured: Feeding Tampa Bay facility under construction • members of FCLF Board of Directors and Executive Team • Boys & Girls Clubs of Sarasota and DeSoto County program participant • Hope Partnership services recipient family. Top of page: Hope Partnership recipient of services • Catchlight Crossings architectural rendering • Seven on Seventh.