Children's Village at Lotus Village
We facilitated the closing of $32 million in NMTC financing to support a new one-stop education and resource center serving low-income and homeless children and families in Miami's highly distressed Overtown neighborhood.
Lotus Endowment Fund
NMTC for Projects
Miami, FL
The 71,280-SF facility expands the capacity of the adjacent Lotus Village women and children's shelter, co-locating a nationally recognized child therapy program, on-site preschool, full-service health clinic, and space for Overtown-based nonprofits to deliver youth programming and social services. SB Friedman, which previously assembled $26.5 million in NMTC allocation to support Lotus Village, played an integral role in maximizing the benefits of NMTCs for this highly impactful project.
Work Completed
Assembled $32 million in NMTC allocation from three Community Development Entities
Negotiated and obtained top-of-market NMTC equity pricing
Assisted the client in sizing and structuring a below-market Program Related Investment from a foundation to address timing issues associated with the project's capital campaign
Assisted with execution of the closing process to maximize efficiency
Results
With SB Friedman's involvement, Lotus Endowment Fund successfully navigated the complexities of NMTC financing, ensuring the facility could provide a full breadth of resources to low-income children and families in Overtown. Construction was completed in the summer of 2024.
Featured Impact Numbers
13,000+
Individuals served annually by co-located organizations
Testimonial
Constance Collins, President and Executive Director, Lotus Endowment Fund, Inc.
“We could not have navigated the complex world of NMTC financing without the guidance of SB Friedman. Our gratitude for their expertise, tenacity and experience is boundless. They are nothing short of dream makers!”