LISC National
News

New Fund Helps Developers Protect Against Displacement

7.26.2017

The City of Boston, CEDAC and LISC will capitalize a new acquisition fund. The goal  is  simple: create a loan fund to help qualified nonprofit affordable housing development partners compete in today’s real estate market. This fund will be used to acquire substantially vacant and underutilized parcels of land and buildings for future development as mixed-income and affordable housing. The funding will target  Boston neighborhoods that are at risk of gentrification with potential displacement of long term residents. 

Fund Highlights

Streamlined Application & Approval Process 

Predictable and Favorable Loan Terms

Other Features 

The City of Boston’s Department of Neighborhood Development will provide information to nonprofit developers looking at  prospective sites, including ownership status, liens, availability for purchase, tax title, etc. DND will work with other City and State agencies to identify parcels and obtain relevant information on behalf of nonprofit developers whenever possible.

Contact

Mike Davis
Email