LISC receives grant from Truist Charitable Fund to Support Emerging Developers through Standardized Training Program

Contacts:

Clare Boulet, LISC Houston, cboulet@lisc.org

Kristen Fraser, Truist, media@truist.com

[Houston, TX], (February 28, 2024) – LISC’s Houston and San Antonio offices today announced they received a grant from the Truist Community Catalyst Initiative—a three-year program supporting local initiatives with statewide impact funded by the Truist Charitable Fund, a donor-advised fund administered by The Winston-Salem Foundation. The $225,000 grant will help to create a standardized training program for emerging developers, which will build their skills and capacity in all stages of the development process.

This grant will support LISC Houston and LISC San Antonio in building on the current training programs being offered in our markets, says Laura Jaramillo, LISC Houston’s Executive Director. “Creating and providing this training resource will be critical to ensuring developers are able to build their capacity and advance affordable housing in both regions.”

After researching and evaluating available housing development and finance related training programs across the country, LISC Houston and LISC San Antonio will utilize this grant to create and implement a training program with standardized curriculum that still allows for local context. 

“This training program will focus on creating supportive cohorts to address issues and challenges unique to them so they can tackle larger and more complex projects that meet the needs of underserved and mixed-income communities,” says Leilah Powell, LISC San Antonio’s Executive Director.

“Texas has some of the fastest growing cities in the U.S. While this creates opportunity for our state, including Houston and San Antonio, it also provides developers building our communities the chance to ensure that they’re designing spaces for all,” said Bill Toomey, Houston, and Central Texas regional president for Truist. “Truist is supportive of LISC’s developer training programs as they’re a critical component to advancing access to affordable housing for low- to moderate-income families and individuals in key Texas markets.” 

This grant is one of 17 grants across 13 states that will create significant impact across Truist’s primary markets, including placing over 1,000 individuals into livable wage jobs, developing or preserving 700 affordable housing units, deploying $65 million in loan capital through 500 small business and home loans, and providing 3,100 low- to moderate-income individuals with new access to essential community services. Learn more about how Truist is inspiring and building better lives and communities in both Houston and San Antonio, Texas and beyond at truist.com/purpose/community. 

About LISC: One of the country’s largest community development organizations, helping forge vibrant, resilient communities across America. We work with residents and partners to close systemic gaps in health, wealth and opportunity and advance racial equity so that people and places can thrive. For 35 years, LISC has invested more than $563 million in Houston communities, leveraging an additional $1.5 billion. This investment has created more than 10,000 affordable homes and apartments and 1.2 million square feet of commercial, community and educational space, as well as helped thousands of people improve their financial health and strengthen their neighborhoods.  Since 2016, LISC has also invested $94 million in San Antonio communities, leveraging $266 million creating over 2,000 affordable homes and apartments and 64,000 square feet of commercial space. For more information, visit www.lisc.org/houston and www.lisc.org/san-antonio. 

About the Truist Charitable Fund: The Truist Charitable Fund ("TCF") is committed to Truist Financial Corporation's (NYSE: TFC) purpose to inspire and build better lives. TCF was established as a donor-advised fund and is administered by The Winston-Salem Foundation. TCF invests in local community organizations, focusing on grants that support initiatives and programs in the areas of educational equity, leadership development, career pathways, small business, and community services. To learn more about Truist's purpose, visit https://www.truist.com/who-we-are/about-truist.

About Truist: Truist Financial Corporation is a purpose-driven financial services company committed to inspiring and building better lives and communities. Truist has leading market share in many high-growth markets in the country and offers a wide range of products and services through our retail and small business banking, commercial banking, corporate and investment banking, insurance, wealth management, and specialized lending businesses. Headquartered in Charlotte, North Carolina, Truist is a top 10 U.S. commercial bank with total assets of $535 billion as of December 31, 2023. Truist Bank, Member FDIC. Learn more at Truist.com.