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Hartford LISC is one of over 30 local programs of the Local Initiatives Support Corporation (LISC), the nation’s largest community development support organization. Our mission is to help community residents create healthy and sustainable places of choice and opportunity – good places to live, work, raise children and conduct business. We mobilize corporate, government, individual donor and philanthropic support and invest these resources into the projects, programs and initiatives that build on the assets and address the challenges of Hartford's neighborhoods.
The State of Connecticut is making an historic investment in transit that opens the door to economic vitality and opportunity. The State of Connecticut, the Connecticut Housing Finance Authority (CHFA) and the Local Initiatives Support Corporation (LISC) have created a new $15 million loan fund to encourage transit oriented development around station stops along CTfastrak and the New Haven-Hartford-Springfield rail corridor.The fund will offer predevelopment and acquisition financing to eligible projects and developers.
Transit oriented development (TOD) features a mix of uses, including new housing, retail,
commercial and office space near transit stops. TOD encourages the use of mass transit, reduces reliance on driving and fosters more compact, walkable communities. TOD can help communities expand access to jobs and education while jump-starting community revitalization.
Bank of America announced an expanded national partnership with a $3.75 million grant to the Local Initiatives Support Corporation (LISC). This partnership directs $90,000 in grants to Hartford LISC to support revitalization and affordable housing in Hartford neighborhoods to improve the quality of life and expand economic opportunity. Read More ....
In cities and towns across America, there's rising demand for affordable housing while the stock of low-cost homes evaporates. More than half of low-income tenants today spend more than half of their income on rent. The struggle for decent, affordable rental housing is increasingly out of reach not only for the poorest of the poor, but for the middle class as well.
The Connecticut TOD fund will provide pre-development and acquisition loans to support development around transit stops along the CT Fastrak and Springfield-Hartford-New Haven rail Corridors. Predevelopment loans will be available to launch projects and acquisition loans to secure sites for development. LISC will combine $13 million of our own financing with $2 million dollars from the State and the Connecticut Housing Finance Authority to create a $15 million fund. By making this initial investment we hope that other investors – public and private - will come to the table with construction and permanent financing to make these projects happen.
Join us on a slideshow tour of the exciting work supported by Hartford LISC!
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