Jim Walker

MapChats:

Utilizing Data Tools for Establishing A Healthy

Food Financing ProgramApril 22, 2015

Florida Community Loan Fund

Expertise and capital to help your project succeed.

Overview

About the Florida Community Loan Fund

Community Development, Preservation Fund, New Markets Tax Credits

Healthy Food Financing / Food Access

Hitchcock’s Market

Developing Our Healthy Food Financing Program

Identifying Areas of Need

Focusing Our Marketing

Finding Our Borrowers

Establishing Policies and Guidelines

FCLF’s Impact

FCLF is a statewide CDFI(federally certified Community Development Financial Institution)

Founded in 1994 to provide flexible

financing for development in low-income communities throughout Florida

Began lending in 1996

To date:

• 200 loans and 15 NMTC Transactions

• over $200 million

• for projects TDC over $670 million.

Community Development FundCommercial loans to non-profit or mission-focused for-profit organizations

The Transition House. Purchasing and Green standard

rehabbing of homes and multi-unit buildings in Central Florida, used for supportive housing primarily to veterans.

DuPuis Pointe, Miami. 27 affordable homes built

using green and hurricane-resistant standards

Northwest Jacksonville CDC. LEED-certified 10,600sf

commercial building new LEED-certified construction project.

Florida Community New Markets FundFunding for community facilities, Green projects, and economic development

Metropolitan Ministries, Tampa. Human services

campus of 93,000 sf, providing 52 apartments for at-risk

individuals and family, expanded child care, onsite public

school, counseling. Total project $18.9 million. Funders include

JPMorgan Chase, Whitney/Hancock Bank.

SolarSink, LLC, Tallahassee. Manufacturing

innovative solar “sausages” heatsink energy, 1.0mw solar

field and 70 jobs; total project $16.6 million. Funders include

U.S. Bancorp CDC, Hunter & Harp Holdings.

KIPP School, Jacksonville. Charter school built

from former greyhound racetrack for 170 students; total

project $26.2 million. Funders U.S. Bancorp CDC, National

Equity Fund.

FCLF’s growth in lending

0

25

50

75

100

125

150

175

200

1996-2010 2011 2012 2013 2014

Mil

lio

ns

154 160

169

184

202

FCLF Vision – Mission – Strategic Goals

Vision: Opportunity and

dignity exist for every

person and community in

Florida.

Mission: Our expertise and

capital make projects

successful and help

organizations improve lives

and communities.

Add Value to community development

projects

Increase Financing in existing lines

of business

Diversify to new market sectors with new

products and services

Build Organizational

Strength with staff, technology, social

impact analysis, marketing, and maintaining

financial health.

Hitchcock’s MarketOld Town, FL

Located in rural Dixie County,

Florida

16.3% poverty rate

Median Income 69% of Area

Median Income

USDA Food Desert

Hitchcock’s MarketOld Town, FL

Project Impact

Double the size to 26,000 square

feet

Increase capacity to serve up to

50% more area residents

Upgrade equipment

40 permanent jobs / 120

construction jobs

New Shopping Plaza with Grocery

Store as Anchor Tenant

$7.3M TDC using $6.0M NMTCs

FCLF Vision – Mission – Strategic Goals

Diversify to new market sectors with new

products and services

Food Access

Financing

Direct

Lending

New Markets

Tax Credits

Food Access Financing

A key NEW INITIATIVE in FCLF’s 5 year

Strategic Plan

Currently: Will continue to look for Supermarket

Financing in NMTC projects

In Development: Integrate a lending, knowledge

sharing and advocacy component to support

access to healthier food access in low-income

communities

Goal: Become the leader in food access lending in

the State of Florida.

Our game plan:

Understand where our capital can be most productive

Learn from organizations such as TRF and The Food Trust

Develop financing products for the market

Assess what kind of subsidies needed

Evaluate who are our likely Borrowers

Identify area where there is market need and type of

subsidies needed

Establish eligibility criteria for program

Recruit capital to support food access initiative

Healthy Food Financing

Understand who the current players are

Who might be potential Borrowers

Who do we want to support (Independents, Large

Chains

Assess how big might the program become

Share potential impact with funders, policymakers

Identify area where there is market need and type of

subsidies needed

Establish eligibility criteria for program

Recruit capital to support lending

Grocery Store Data Set – How To Mine It

Northern and Central Florida - LSAs

Overall Need

Rural, Suburban and Urban Need

Need vs Location of Current Operators

Comparison with other Lending Activities of the Loan Fund

Potential for new Partnerships

General Implications

Miami-Dade and South Broward Counties - LSAs

Fewer LSAs than initially expected

Access versus Affordability and other constraints on families

Focus on expanding grocery options the optimal strategy

Funders focus for impact compared to Need

Implications for South Florida Food Efforts

Florida Community Loan FundContact Information

James Walker

Community Development Loan Officer

561.414.3933

jwalker@fclf.org

MAIN OFFICE: 501 NORTH MAGNOLIA AVENUE, SUITE 100

ORLANDO, FLORIDA 32801-1364

PHONE 407.246.0846www.fclf.org