Jim Walker Senior Loan Officer Florida Community Loan Fund

2. Jim Walker

3. MapChats:
Utilizing Data Tools for Establishing A Healthy
Food Financing Program
April 22, 2015
Florida Community Loan Fund
Expertise and capital to help your project succeed.

4. 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

5. 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.

6. Community Development Fund
Commercial 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.

7. Florida Community New Markets Fund
Funding 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.

8. FCLF’s growth in lending
0
25
50
75
100
125
150
175
200
1996-2010 2011 2012 2013 2014
Millions
154
160
169
184
202

9. 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.

10. Hitchcock’s Market
Old Town, FL
Located in rural Dixie County,
Florida
16.3% poverty rate
Median Income 69% of Area
Median Income
USDA Food Desert

11. Hitchcock’s Market
Old 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

12. FCLF Vision – Mission – Strategic Goals
Diversify to new market sectors with new
products and services
Food Access
Financing
Direct
Lending
New Markets
Tax Credits

13. 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.

14. 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

15.  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

16. Northern and Central Florida - LSAs

17.  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

18. Miami-Dade and South Broward Counties - LSAs

19.  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

20. Florida Community Loan Fund
Contact 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 407.246.0846
www.fclf.org