Neighborhood Lending Partners (NLP), and Corporation to Develop Communities (CDC) of Tampa partnered to host an event on April 26, which announced the establishment of a housing fund for the construction of a new community of single-family houses in East Tampa.The development will be the future site of Beacon Homes.
The NLP, a which multi-bank lending institution providing financing to developers of affordable housing and community revitalization, announced the new Florida Minority Impact Housing Fund (FMIHF) at the event. The event, which was attending by Tampa Mayor Bob Buckhorn and one hundred others, also served as a groundbreaking for CDC of Tampa, will develop the land. CDC of Tampa is an organization that revitalizes neighborhoods, improves lives, and strengthens communities throughout Pinellas Counties and Hillsborough, granting access to affordable housing, youth programs, and job training and placement. CDC of Tampa bought the land from Tampa Housing Authority, which a development partner for this project.
“We’re thrilled to establish the Florida Minority Impact Housing Fund and know that Beacon Homes will be a wonderful addition to East Tampa and a vital part of the area’s revitalization efforts,” said Neighborhood Lending Partners President and CEO, Debra Reyes. “Quality, affordable housing should be available to all Florida residents and it is our goal to create those opportunities in as many communities as possible.”
The primary supporters of the $3million dollar FMIHF are Wells Fargo and Banks of America, which offers products and loan programs for the development of affordable housing. The FMIHF serves faith-based organizations, community development corporations, non-profit developers, and organizations, positively impacting minorities and other underserved communities throughout the state of Florida. The fund is a tremendous resource for nonprofit housing developers, allowing for more opportunities to further our redevelopment efforts in Hillsborough and East Tampa.