Stinson Advises Florida Community Loan Fund on NMTC Financing of Florida Boys & Girls Clubs Facility

07.10.2024

Stinson LLP served as legal counsel to the Florida Community Loan Fund in a new markets tax credit transaction benefiting the Boys & Girls Clubs of Sarasota and DeSoto Counties. The $10.2 million transaction, financed in part by the Florida Community Loan Fund's participation in the federal New Markets Tax Credit (NMTC) Program, will fund the construction and renovation of the Boys & Girls Clubs facility in North Port, Florida, following significant damage from Hurricane Ian.

Stinson attorneys advised the Florida Community Loan Fund on structuring the financing, negotiating terms, and ensuring compliance with NMTC regulations, which facilitated the successful closing of the transaction.

"We're proud to have played a role in supporting FCLF's impact-driven financing, which will allow the Boys & Girls Clubs of Sarasota and DeSoto Counties to rebuild and expand their facilities, providing a safe space and enriched learning environment for hundreds of children and youth in North Port, Florida," Tampa-based Partner Brian Weaver said.

Florida Community Loan Fund's NMTC investment will allow the Boys & Girls Clubs of Sarasota and DeSoto Counties to expand services and reach over 300 youth annually with a new state-of-the-art facility. 

In addition to Weaver, Stinson associate Nicole Johnson was involved in the matter.

Stinson's Tax Credit & Impact Finance team regularly assists clients in similar transactions leveraging state and federal tax credits, government incentives and other financing tools. The firm's attorneys are considered national leaders in NMTC matters. They also advise lenders and investors on various impact lending and equity transactions, utilizing the firm's extensive experience in banking, real estate and structured finance.

Learn more about the Florida Community Loan Fund's new markets tax credit structure.