1. Florida Supportive Housing Coalition Lenders’ Panel
Orlando • September 23, 2019

2. OUR VISION
Opportunity and dignity exist for every person and community in Florida.
OUR MISSION
Our expertise and capital make projects successful and help organizations improve lives and communities.

3. FCLF EXISTS ECONOMIC MAINSTREAM
to maximize opportunities for people and places
outside of the
ECONOMIC MAINSTREAM

4. FCLF LENDS FOR… AFFORDABLE HOUSING COMMUNITY FACILITIES HEALTHCARE
FOOD ACCESS

5. ALL FCLF LOANS…
Must be in low- income communities or for low-income residents
Must have a community development or social services purpose
Loans are to organizations and businesses (not individuals)

6. FCLF SUCCESS STORIES

7. SUCCESS STORY: Wayne Densch Center Orlando
77 units of permanent supportive housing for formerly homeless, developed by Ability Housing
$2.57 million FCLF financing, construction/term loan
$8.9 million total project cost
Orange County funding through SHIP and HOME programs

8. SUCCESS STORY: Wayne Densch Center Orlando
Financing Structure/Partners:
FCLF Construction / Term Loan (1st Mortgage)
$2,570,000
Other Charitable Donations
$500,000
Other Bank Financing
$40,000
County SHIP Loan
$1,000,000
County HOME Loan
FHLB-Atl AHP Grant (FCLF sponsor)
Equity / Deferred Development Fee
$420,257
TOTAL PROJECT FUNDING
$6,030,257

9. SUCCESS STORY: Haley Park Apts., Tampa
80 apts, low-income seniors
Developer Wendover Housing
FCLF financing for new construction and permanent 15 year loan
$15 million total project cost
$960,000 total FCLF financing
Additional funding from FHFC, County, LIHTC, & others
Convenient to VA hospital, green- built, with amenities including pool, fitness center, hair salon, dog walk

10. SUCCESS STORY: Haley Park Apts., Tampa
Financing Structure/Partners:
HFAHC Tax Exempt Bond Proceeds $6,750,000
Bond Redemption Fund (6,750,000)
FCLF Construction/Perm Loan ,000
FHFC SAIL Loan (2nd Mortgage) 2,300,000
FHFC SAIL ELI Loan (3rd Mortgage) ,000
County NSP Loan (6th Mortgage) 1,050,036
County HOME Loan (4th Mortgage) 2,425,280
County SHIP Loan (5th Mortgage) 1,703,720
LIHTC Equity ,947,582
Deferred Development Fee/Other ,092
TOTAL PROJECT FUNDING: $14,568,710

11. SUCCESS STORY: SCLAD, Hialeah
24 affordable apartments, fully handicap accessible
Developed by Spinal Cord Living Assistance Development (SCLAD)
$790,000 FCLF financing, 2 loans
$6.8 million total project costs
Villa del Este (6 apts) and Le Jeune Gardens (18 apts)
SCLAD has resource & service center nearby

12. THE RESULT:
HIGH
SOCIAL
IMPACT
IN LOW-INCOME COMMUNITIES

13. 5,966 housing units 492,000+ FLORIDIANS
151 Facilities, 2.2 million sq ft
15,181 jobs created or retained
492,000+ FLORIDIANS
receive essential social services every year
cumulative through 12/31/2018

14. WHY FCLF? We are willing to… Commit early in a project
Structure loan rate and terms to meet the cash flow needs of our borrower
Access other conventional and nonprofit lenders
Assume a higher risk

15. OVERVIEW OF LOAN PROGRAMS
FCLF:
OVERVIEW OF LOAN PROGRAMS

16. COMMUNITY DEVELOPMENT
LENDING GUIDELINES
LOAN SIZE
$5 million maximum
Larger may be available through partnerships
LOAN TYPES
Acquisition & pre-development  Construction & rehabilitation
Lines of credit  Term & permanent loans
Refinancing in certain situations
COLLATERAL
Loans must be secured
Loan-to-value (LTV) will vary based on collateral type, typically 70% to 90%
TECHNICAL ASSISTANCE
Free technical assistance may be available in some cases; FCLF will cover the cost.
Technical assistance may be delivered by FCLF staff, Florida Housing Coalition, or others.

17. COMMUNITY DEVELOPMENT
LENDING GUIDELINES
LOAN TERMS
Fixed rates 4.625% to 6.0%, depending on term
Origination fees typically 0.5% to 1%
No prepayment penalties
1.15x minimum DSC based on stabilized NOI (1.30x for community facilities)
No or minimal legal fees on typical transactions
Terms up to 10 years (in some case up to years)
Amortizations up to 35 years

18. CONTACT US RICH ROLLASON OUR LENDING TEAM DEVELOPMENT OFFICER
 Orlando
OUR LENDING TEAM
Cindy Ross, East & North Florida
Jim Walker, South & Southwest Florida
Rick Khan, Central Florida
NELSON BLACK
CHIEF LENDING OFFICER
 Tampa
800 N MAGNOLIA AVE • SUITE 106 • ORLANDO FL 32803

19. THANK YOU!
Questions?