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Global Ministries Fellowship Addresses Affordable Housing with $33 Million in Financing

The Public Finance Authority (PFA) has provided $33.36 million of taxable and tax-exempt multifamily housing revenue bonds to fund the acquisition, rehabilitation and equipping of 7 residential rental facilities throughout Florida for individuals of low and moderate income.

Global Ministries Fellowship (GMF) is a nonprofit affordable multifamily housing developer that owns multifamily housing communities throughout the country. The Borrower, GMF-Florala, LLC is a Tennessee limited liability company and wholly owned subsidiary of GMF.  GMF aims to provide affordable housing for low to moderate income residents around the United States. Each GMF housing community is owned and operated by GMF, and they are communities where both social and faith based services are extended to the residents.

PFA partnered with Jones Walker and Merchant Capital to provide the financing that will enable GMF to acquire the properties and address certain capital improvement needs including parking lot repair, roof repair or replacement, exterior painting, immediate interior unit repairs and upgrades, security enhancements and landscaping upgrades.  

Additionally, the financing will allow GMF to provide the following additional supportive and social services at no cost to the residents:

  • Access to medical and wellness care
  • Financial Planning and Budgeting workshops
  • Vocational/Social enhancement workshops
  • Computer learning/training sessions
  • Literacy training and Hygiene/Housekeeping instruction
  • On-site social services coordinator, subject to grant funding
  • Group sessions for residents to desire to discuss major life issues and consider practical solutions to numerous real time stress related issues
  • A resident “alert line” phone number to call in crisis situations that may arise