Florida Community Loan Fund has finalized the closing on New Markets Tax Credit (NMTC) financing for the YMCA of South Florida. FCLF provided $17 million in NMTC allocation for the new LA Lee / Mizell Community Center in Fort Lauderdale.
Replacing an aging building that had increasing repair expenses and no room for expansion, the new 64,000 square-foot facility will serve 800-1200 area residents daily from predominantly low-income households. Programs to be offered on site include GED and job training, community healthcare including diabetes prevention, mentoring, tutoring, and daycare; as well as retail space for area businesses.