Neighborhood Lending Partners Establishes Fund for New Housing Development in East Tampa

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Nonprofit Announces Launch of Florida Minority Impact Housing Fund

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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 in the area’s revitalization efforts.

Neighborhood Lending Partners (NLP), a nonprofit multi-bank lending consortium that provides financing to developers of affordable housing and community revitalization, is launching the Florida Minority Impact Housing Fund (FMIHF) to help revitalize communities across Florida. The official announcement will take place Wednesday, November 18 at 10:00 a.m. at the corner of N. 34th Street and E. 28th Avenue in East Tampa. This is the future site of Beacon Homes, a development of single-family houses financed through the FMIHF.

Community members and leaders, along with Tampa city officials, are among those scheduled to attend the event. The CDC of Tampa will utilize the NLP-managed fund for the construction of affordable homes on the parcel of land purchased from the Tampa Housing Authority, bringing together local organizations on 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 in 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.”

Bank of America and Wells Fargo are the primary supporters of the three million dollar FMIHF, which provides loan programs and products for the development of affordable housing. The fund serves nonprofit developers, faith-based organizations, community development corporations and organizations making an impact in underserved communities across the state.

“The Florida Minority Impact Housing Fund is a dream come true for so many African-American, nonprofit housing developers,” said Urban Development Manager for the City of Tampa, Ed Johnson. “Providing these developers with reliable access to capital ensures that housing development projects will be completed with the highest quality.”

The FMIHF will also fund projects in other Florida cities, including Miami. In total, NLP has managed and/or financed more than 137 housing properties across the state.

About Neighborhood Lending Partners, Inc. (NLP)
Neighborhood Lending Partners is a multi-bank lending consortium providing financing to developers of affordable housing, community revitalization and small business lending. The organization is a nonprofit 501(c) (3) serving the State of Florida through member banks. NLP is a Community Development Financial Institution (CDFI) and a Community Development Entity (CDE).

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