Florida Supportive Housing Coalition Lenders’ Panel Orlando • September 23, 2019

OUR VISION Opportunity and dignity exist for every person and community in Florida. OUR MISSION Our expertise and capital make projects successful and help organizations improve lives and communities.

FCLF EXISTS ECONOMIC MAINSTREAM to maximize opportunities for people and places outside of the ECONOMIC MAINSTREAM

FCLF LENDS FOR… AFFORDABLE HOUSING COMMUNITY FACILITIES HEALTHCARE FOOD ACCESS

ALL FCLF LOANS… Must be in low- income communities or for low-income residents Must have a community development or social services purpose Loans are to organizations and businesses (not individuals)

FCLF SUCCESS STORIES

SUCCESS STORY: Wayne Densch Center Orlando 77 units of permanent supportive housing for formerly homeless, developed by Ability Housing $2.57 million FCLF financing, construction/term loan $8.9 million total project cost Orange County funding through SHIP and HOME programs

SUCCESS STORY: Wayne Densch Center Orlando Financing Structure/Partners: FCLF Construction / Term Loan (1st Mortgage) $2,570,000 Other Charitable Donations $500,000 Other Bank Financing $40,000 County SHIP Loan $1,000,000 County HOME Loan FHLB-Atl AHP Grant (FCLF sponsor) Equity / Deferred Development Fee $420,257 TOTAL PROJECT FUNDING $6,030,257

SUCCESS STORY: Haley Park Apts., Tampa 80 apts, low-income seniors Developer Wendover Housing FCLF financing for new construction and permanent 15 year loan $15 million total project cost $960,000 total FCLF financing Additional funding from FHFC, County, LIHTC, & others Convenient to VA hospital, green- built, with amenities including pool, fitness center, hair salon, dog walk

SUCCESS STORY: Haley Park Apts., Tampa Financing Structure/Partners: HFAHC Tax Exempt Bond Proceeds $6,750,000 Bond Redemption Fund (6,750,000) FCLF Construction/Perm Loan 960,000 FHFC SAIL Loan (2nd Mortgage) 2,300,000 FHFC SAIL ELI Loan (3rd Mortgage) 600,000 County NSP Loan (6th Mortgage) 1,050,036 County HOME Loan (4th Mortgage) 2,425,280 County SHIP Loan (5th Mortgage) 1,703,720 LIHTC Equity 4,947,582 Deferred Development Fee/Other 582,092 TOTAL PROJECT FUNDING: $14,568,710

SUCCESS STORY: SCLAD, Hialeah 24 affordable apartments, fully handicap accessible Developed by Spinal Cord Living Assistance Development (SCLAD) $790,000 FCLF financing, 2 loans $6.8 million total project costs Villa del Este (6 apts) and Le Jeune Gardens (18 apts) SCLAD has resource & service center nearby

THE RESULT: HIGH SOCIAL IMPACT IN LOW-INCOME COMMUNITIES

5,966 housing units 492,000+ FLORIDIANS 151 Facilities, 2.2 million sq ft 15,181 jobs created or retained 492,000+ FLORIDIANS receive essential social services every year cumulative through 12/31/2018

WHY FCLF? We are willing to… Commit early in a project Structure loan rate and terms to meet the cash flow needs of our borrower Access other conventional and nonprofit lenders Assume a higher risk

OVERVIEW OF LOAN PROGRAMS FCLF: OVERVIEW OF LOAN PROGRAMS

COMMUNITY DEVELOPMENT LENDING GUIDELINES LOAN SIZE $5 million maximum Larger may be available through partnerships LOAN TYPES Acquisition & pre-development  Construction & rehabilitation Lines of credit  Term & permanent loans Refinancing in certain situations COLLATERAL Loans must be secured Loan-to-value (LTV) will vary based on collateral type, typically 70% to 90% TECHNICAL ASSISTANCE Free technical assistance may be available in some cases; FCLF will cover the cost. Technical assistance may be delivered by FCLF staff, Florida Housing Coalition, or others.

COMMUNITY DEVELOPMENT LENDING GUIDELINES LOAN TERMS Fixed rates 4.625% to 6.0%, depending on term Origination fees typically 0.5% to 1% No prepayment penalties 1.15x minimum DSC based on stabilized NOI (1.30x for community facilities) No or minimal legal fees on typical transactions Terms up to 10 years (in some case up to 20-30 years) Amortizations up to 35 years

CONTACT US RICH ROLLASON OUR LENDING TEAM DEVELOPMENT OFFICER RRollason@FCLF.org 407.246.0846  Orlando OUR LENDING TEAM Cindy Ross, East & North Florida CRoss@FCLF.org Jim Walker, South & Southwest Florida JWalker@FCLF.org Rick Khan, Central Florida RKhan@FCLF.org NELSON BLACK CHIEF LENDING OFFICER NBlack@FCLF.org 813.223.7400  Tampa www.FCLF.org 800 N MAGNOLIA AVE • SUITE 106 • ORLANDO FL 32803

THANK YOU! Questions?