NFF Dollars at Work
Featured Loan Closing
St. John's Episcopal Hospital: Creating space for access to medical care
$5 million loan (Jan 2021)
St. John's Episcopal Hospital offers emergency and ambulatory care to the densely populated, culturally and economically diverse, and medically underserved population of Far Rockaway, Queens and surrounding areas in New York. NFF and Capital Impact Partners each provided $5 million source loans for a $30 million project to construct a community clinic across the street from the hospital that will allow St. John's to expand the provision of primary care, mental health, and specialty care services on the Rockaway peninsula. This project will also free up much needed space at the hospital for critical inpatient services so that St. John's can continue to provide people of all faiths with comprehensive services - from preventive to rehabilitative - regardless of ability to pay.
Partners: Capital Impact Partners, CityScape Capital Group, New York City Regional Center, and Chase
2021 loans and other financing
YMCA of Memphis & the Mid-South: Building healthy communities in Tennessee
$11-million NMTC investment and $1.5-million construction loan (Dec 2020)
The YMCA of Memphis & the Mid-South works to strengthen community to make sure everyone has the opportunity to learn, grow, and thrive. In addition to its primary focus on youth development and healthy living for residents of all ages, the YMCA has also played an important role in the local COVID-19 response, providing school meals and childcare for essential workers. NFF’s $11 million NMTC investment and $1.5 million loan will support the construction of a new community center that will offer fitness amenities, after-school programs, and health and wellness activities.
Hollywood Community Housing Corporation: Expanding affordable housing in Los Angeles, California
$1.5-million predevelopment loan (Dec 2020)
Hollywood Community Housing Corporation (HCHC) is addressing Los Angeles’ housing crisis by developing permanent supportive housing for low-income families, formerly homeless individuals and households, seniors, and those with special needs. Operating about 1,000 housing units, mostly in the Hollywood area, HCHC provides a broad range of support services centered on the principles of trauma-informed care for its residents, as well as ESL and GED classes, life skill classes, free after-school programs, and a food pantry. NFF’s $1.5-million loan will provide flexible financing in support of HCHC’s pipeline of permanent supportive housing projects that will allow it to develop at least 500 units every five years. This loan was made through NFF’s Accelerating Permanent Supportive Housing Fund, which provides early-stage capital to help speed the development of supportive housing in the Los Angeles area.
Coalition for Responsible Community Development: Improving quality of life in South LA's Vernon-Central neighborhood
$750,000 loan (Dec 2020)
Coalition for Responsible Community Development (CRCD) takes a youth-centered, neighborhood-based approach to supporting their community's vision for the future. CRCD's programs focus on youth development, workforce development, supportive services, housing, and real estate to foster the revitalization of the South LA community. Through the Accelerating Permanent Supportive Housing Fund, NFF's $750,000 loan will provide flexible financing in support of CRCD’s sizeable pipeline of permanent supportive housing projects, with more than 14 projects in predevelopment.