Local Nonprofits Join Forces for New East Tampa Housing Development

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Neighborhood Lending Partners (NLP) and Corporation to Develop Communities (CDC) of Tampa hosted event to announce establishment of housing fund and hold groundbreaking ceremony.

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 NLP President and CEO, Debra Reyes.

Neighborhood Lending Partners (NLP) and Corporation to Develop Communities (CDC) of Tampa held a kickoff event for the construction of a new community of single-family houses in East Tampa, utilizing the new Florida Minority Impact Housing Fund (FMIHF). The event took place Tuesday, April 26 at the corner of N. 34th Street and E. 28th Avenue.

NLP, a multi-bank lending consortium that provides financing to developers of affordable housing and community revitalization, announced the launch of FMIHF at the event. The new fund is financing this development, which is the future site of Beacon Homes. The event also served as a groundbreaking for CDC of Tampa, which is developing the land. The CDC of Tampa is an organization that works to revitalize neighborhoods and strengthen communities in Hillsborough and Pinellas Counties. The land was purchased from Tampa Housing Authority, also a development partner in this project.

More than 100 people, including Tampa Mayor Bob Buckhorn and additional community members and leaders, attended this event.

“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.”

Bank of America and Wells Fargo are the primary supporters of the $3 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 minority and other underserved communities across the state.

“The Florida Minority Impact Housing Fund is such a tremendous resource for nonprofit housing developers,” said CDC of Tampa President and CEO Ernest Coney. “This allows us more opportunities to further our redevelopment efforts in East Tampa and other areas in Hillsborough that need it the most.”

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).

About CDC of Tampa, Inc.
The Corporation to Develop Communities of Tampa, Inc. (CDC of Tampa) creates opportunities for people to improve their lives and strengthen their communities by providing access to job training and placement, affordable housing and youth programs. The CDC was incorporated in 1992 for the purpose of alleviating poverty and physical deterioration in Hillsborough County’s East Tampa community. CDC of Tampa is a charter member of the NeighborWorks® network, consisting of 240 private nonprofit affiliates that work in nearly 4,500 urban, rural and suburban communities nationwide.

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Althea Paul
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