LA Lee YMCA Mizell Community Center
Location: Fort Lauderdale, Florida
Closing Date: September 5, 2019
Project Description & Impact: Florida Community Loan Fund (FCLF) provided NMTC allocation for the new construction of a 64,000 square-foot YMCA facility in Fort Lauderdale, Florida that will provide services to area low-income households, including education and job training, reaching an estimated 4,000 annually.
Client: Florida Community Loan Fund (CDE)
Financing Tools Used: NMTC Financing
The Story Behind this Project
The YMCA of South Florida has served Broward, Miami-Dade and Monroe Counties since establishment in 1915. Today, the YMCA provides programs in over 118 area public schools, offers after-school food programs for children, civic education for teens, and health and wellness programs serving area residents of all ages, infants to seniors.
The current LA Lee YMCA is in an aging building that has seen increasing repair and maintenance expense with no ability to expand in order to meet the community’s growing needs.
With NMTC financing, the YMCA of South Florida will build a new 64,000 sq-ft LA Lee YMCA / Mizell Community Center, which will replace its current facility and provide much needed expanded space for education and job training, health and wellness programs, social services, recreation, a swimming pool, and commercial retail space to local area small businesses.
The new LA Lee / Mizell Center will be open daily on a year-round basis and is estimated to serve 800-1200 area residents per day from predominantly low-income households. GED and job training programs provided by Broward College will serve an estimated 475 per year and include job placement. Community health programs including diabetes prevention will reach 1300 residents per year.Programs including mentoring, tutoring, and on-site daycare will also be expanded to reach up to 700 mostly low-income children from 170 households.
“The vision for the LA Lee YMCA is to impact generations of youth, adults, and families. With FCLF’s commitment and guidance, the LA Lee YMCA will change lives.” – Sheryl Woods, President & CEO, YMCA of South Florida
The area has been identified by the City of Fort Lauderdale and the Community Redevelopment Agency (CRA) in neighborhood revitalization efforts. The City provided a long-term 50 year lease on the land. The CRA is also providing a $10 million toward construction funding and is helping identify tenants for on-site rental retail space.
FCLF provided $17 million in federal NMTCs for the YMCA of South Florida, with an additional $4 million NMTC from Banco Popular. The investor and source loan provider is SunTrust Bank.
“With its strong focus on education and job training from its partner tenant Broward College, this is a unique YMCA facility, and a great example of the impact the NMTC program can have. FCLF is proud to be a part of this project, and we stand with the community in its support. From infants to seniors, from daycare to job training, the LA Lee YMCA / Mizell Community Center will reach every facet of the community.” – Nelson Black, FCLF Chief Lending Officer
