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| BBIF Impact: | | | | BBIF has consistently made a significant impact on the Central Florida communities. As specified in our Annual Report, the loans we have provided have helped to create and sustain many new jobs and helped to foster the growth of businesses. Click here for annual report to get a glimpse of the huge impacts BBIF has had on the Central Florida economy. | | | | Impact: | | | | Impact Statistics Coming Soon.... | | | | Community Impact: | | | Revitalization through Historical Preservation in Parramore
Before the creation of the Wellsbilt Museum, Orlando had no tangible example of local black history. In Orlando's oldest black community, the Parramore Heritage community, the BBCFC focuses on neighborhood revitalization by reviving history of place. Recently, the BBCFC worked closely with the proprietors of the Wellsbilt Hotel, a local historical landmark in their efforts to renovate and convert the property into the Wellsbilt Museum. The Wellsbilt is a local history museum which chronicles and celebrates the history of Black Orlando and specifically focuses on the history of Parramore. Once the epicenter of life for Black Central Floridians, the Parramore Heritage community represents the history of Black people in Orlando. BBCFC worked with the Wellsbilt Museum to attain the grants and funding necessary for the renovation effort of the historical landmark. During the renovation process, BBCFC worked to identify and engage local minority construction and real estate development contractors in the Wellsbilt renovation thereby creating jobs in the community.
The Carver Theater at the northwest corner of Parramore and Church in Orlando was a community landmark for many years. By the late 1990's the theater had fallen into disrepair and was condemned by the city. Recently the old theater was sold to the City of Orlando, and, after renovation was determined to be unfeasible, razed.
The BBIF intends to develop the property into a three story mixed use development. This development will include mixed income residential condominiums, commercial office condominium space and retail space. The development will also house a small business incubator. The project will be the first of it kind in the Parramore community.
The commercial office condominiums will include space that will serve as the headquarters office the BBIF. In addition, the Florida Community Loan Fund (FCLF) has expressed a strong interest in locating its headquarters in the another office condominium. By locating office space in Parramore and attracting other organizations like FCLF to locate in Parramore, the BBIF is bringing much needed capacity building organizations into the community. The small business incubator will promote business development for local business owners. Through the incubator business owners will be able to maintain a professional office space and access an accountant and a business consultant for technical support. This facility will provide the community with a launching pad for fledgling businesses and will contribute to local commerce. The multifamily affordable housing component of the Carver Theater site will provide high quality affordable and market rate housing to existing and new residents of the Parramore. The BBIF will work closely with the City of Orlando to create a design for this mixed use development that will cohere with other renovation and development scheduled to take place in Parramore. The BBIF has brought together a talented development group including experienced architects, engineers, and builders from the Central Florida community.
Through the Carver Theater site redevelopment project, the BBIF will be revitalizing a major intersection of a blighted historic district and providing the community with much needed commercial and residential space. This project will be a catalyst for community revitalization in the Parramore Heritage community. | | | | Client Stories: | | | Supporting Business Growth and Development in the Urban Core
An example of BBIF's community revitalization through community and economic development is that of Bob Burns, one of Orlando's few African American general contractors. Located in Parramore, RL Burns, Inc. employs community residents and has been responsible for the development of seven new homes in the Carver Court neighborhood of Parramore. Mr. Burns almost lost his business two years ago. He was unable to attain the commercial credit he needed from the traditional banking community to support and grow his business. BBIF worked with Mr. Burns to help him attain the capital that he needed to support his business and finance growth. The BBIF then leveraged a network of local public and private partners to help Mr. Burns qualify for and attain contracts. In addition, Mr. Burns utilized BBIF management training as a tool to help him successfully plan and manage his contractual opportunities and obligations and to further facilitate businesses growth.
Today three years after first working with the BBCFC Bob Burns is in a position to reinvest in the Parramore community. He is currently planning to develop two office buildings at the border of Parramore and Holden Heights. The BBCFC is helping Mr. Burns attain the financing necessary to develop this commercial project.
Eliminating Blight and Creating Jobs in Pine Hills
The story of Preston Greenwood and Sea Wind Fish Market exemplifies the economic and community development achievements of the BBCFC. The BBCFC worked with Mr. Greenwood to develop his business through management development and technical assistance. Once he graduated from the BBCFC technical assistance program, Mr. Greenwood requested that the BBCFC aid him in completing a feasibility analysis and attaining the financing necessary to purchase and convert two dilapidated residential structures in the Pine Hills community into a fresh seafood market. Prior to attaining financing through the BBCFC, this business owner had been turned down three times by commercial financing entities. By aiding Mr. Greenwood in attaining project financing, the BBCFC enabled the renovation of a blighted property and increased jobs in the Pine Hills community. Through this assistance the BBCFC also helped to bring a much needed service into the community. Three years ago, there were no fresh seafood markets in Pine Hills, one of the most heavily Caribbean populated communities in Central Florida. | | | |
