Florida Community Loan Fund has finalized closing on New Markets Tax Credit (NMTC) financing for Feeding Northeast Florida. FCLF provided $14 million in NMTC allocation for the new $16.1 million facility in Jacksonville that will allow the organization to consolidate and expand services that combat food insecurity.
The renovated 120,000 square-foot building will streamline and expand Feeding NE Florida’s food distribution network, which includes over 300 nonprofit and faith-based food pantries, feeding organizations, meal programs, and schools. The organization reaches a highly disadvantaged population, and the region’s needs for services to address food insecurity has grown dramatically – by 78% over the past 2 years. In 2020, Feeding NE Florida distributed nearly 31 million pounds of food – 84,500 meals per day. FNEFL estimates that distribution demand will increase to as much as 56 million pounds, reaching over 350,000 individuals annually.
“It’s not often that you have the opportunity to help a dedicated nonprofit directly affect the lives of so many people. This is one of those times.” – Nelson Black, Chief Lending Officer, Florida Community Loan Fund
“Feeding Northeast Florida has long needed a larger, more efficient facility from which to serve those in our community facing hunger. Florida Community Loan Fund immediately understood the value and importance of this project and partnered with us to make this dream a reality. We are grateful for their vision and expertise throughout this project.” – Susan King, President & CEO, Feeding Northeast Florida