Florida Community Loan Fund has provided $12 million in NMTC allocation for the South Florida Museum and Bishop Planetarium in Bradenton, FL

FCLF and South Florida Museum

Florida Community Loan Fund recently closed its latest New Markets Tax Credit (NMTC) project: the $23 million South Florida Museum and Bishop Planetarium in Bradenton, Florida.

With financing through the NMTC program, South Florida Museum will build the North Education Complex, a 23,000 sq-ft addition that is specifically designed to break down barriers to science, technology, engineering and math (STEM) education to the 11,000+ low-income students who will visit the Complex each year.

“South Florida Museum and Bishop Planetarium has been situated in downtown Bradenton for over 70 years. Thanks to NMTC, this mainstay of the downtown area is undergoing an extraordinary new expansion of its grounds and the services it provides. The North Education Complex expansion has been designed to break down barriers in reaching low-income students and increasing participation in STEM education. The flexibility of NMTC provides an opportunity to revitalize the urban core and create long lasting community impact." – Nelson Black, FCLF Chief Lending Officer.


SW FL Tech Hub pdf download

The North Education Complex of the South Florida Museum and Bishop Planetarium, upon completion, will provide:
  • 23,000 square feet of classroom and exhibit space specifically designed to break down barriers to STEM education among low-income students,
  • Programs and services to reach 11,350 Title I students annually – a 77% increase,
  • Education and training for 300 educators and future educators annually,
  • Creation or retention of 45 permanent and 200 construction jobs,
  • A catalyst for future redevelopment in the downtown Bradenton area, in conjunction with planning through the City of Bradenton, Manatee County Chamber of Commerce, and Manatee County Neighborhood Services Department.
Florida Community Loan Fund provided $12 million in NMTC allocation for the South Florida Museum and Bishop Planetarium project. PNC Bank is the investor on the project.

The New Markets Tax Credit, or NMTC, Program encourages economic development in distressed neighborhoods. To date, FCLF has been awarded $271 million in Federal NMTC allocation authority, financing high social impact projects totaling $510 million in project costs and providing 4,800 jobs in low-income census tracts.

Pictured above, rendering of the South Florida Museum and Bishop Planetarium upon completion of the North Education Complex. Below, the existing Museum building. 

South Florida Museum today

Expertise and Capital FCLF

FCLF provides financing and technical expertise to improve low income communities in areas such as safe, affordable housing ‒  homeless & special needs facilities ‒ education & healthcare facilities ‒ commercial & retail space to encourage new local businesses ‒ access to fresh, healthy foods. For 20+ years, FCLF has helped over 150 organizations in Florida achieve success in their projects and missions. We look forward to continuing to build strong communities in Florida through NMTC and other projects that provide high impact in low-income areas. For more information, visit www.fclf.org.