Toledo, OH
Hugh Grefe
Chair, Local Advisory Committee:
Thomas W. Palmer,
Marshall & Melhorn
Established in 1989
Achievements by the Numbers:
(By LISC and Affiliates since inception)- 1,572 homes and apartments
- 248,516 square feet of commercial space
- $91.8 million total investment
- $171.3 million leveraged
- Download Toledo LISC Program Summary (PDF, 477 KB)
- Learn more at: www.lisc.org/toledo
Profile:
LISC Toledo’s vision is simple and sharply focused – building Toledo’s hope, one block at a time. While LISC works in close partnership with nonprofit, community-based organizations to develop quality, affordable housing and attractive commercial areas in Toledo, we also work to assure that all of the desirable features of great neighborhoods are available in Toledo’s oldest areas. We expanded our AmeriCorps program; now five members assist in education, community building and healthy food initiatives, all in targeted areas. In order to improve access to education, LISC made a $389,000 loan to help finance over $4 million in renovations for the nationally recognized Toledo School for the Arts expansion of both its academic offerings and its intensive arts curriculum. Renovations included a new dance studio, ten new classrooms, a theater, a gallery, a new cafeteria, and a technology lab. U.S. News and World Report ranked TSA as a Bronze Award winner. The school has reached its maximum enrollment and maintains an extensive waiting list of potential new students.
In order to preserve the physical environment, Toledo LISC developed a unique $800,000 loan to assist Neighborhood Housing Services to re-acquire a $1.2 million loan portfolio consisting of a variety of first and second mortgages. This will retain loan servicing in Toledo and will also re-capitalize the NHS affordable mortgage loan pool to assist even more families in Toledo to acquire homes. In addition, Toledo LISC has played a pivotal role in the awarding of $10.2 million to the Neighborhood Stabilization Trust II Consortium. Development plans include 36 single-family homes and 200 multi-family housing units.