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Investing in communities where the market does not work on its own is a daunting task. It’s made easier through public-private partnerships and funding made possible through our local, state and national governments. At LISC, we consider it our daily mantra to help coordinate these assets so local implementation capacity is strengthened and new financial resources are cultivated. In a conversation recently, I was reminded of the obvious fact: “we live in a world of limited resources.” That’s the downside, particularly in community development. The upside is that it forces us to prioritize and search persistently for ways to leverage the time and money that we can afford to invest. This is the nexus where great ideas emerge!
This week, as the National Equity Fund (NEF) turns 30, LISC CEO Maurice Jones and NEF president Joe Hagan take the measure of all that has been accomplished thanks to the Low Income Housing Tax Credit. That includes three million affordable homes since the credit was created in 1986, and 90 percent of all affordable housing being built today. It is the nexus. Read more here.