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AmeriCorps Funding Fuels Community Gains

AmeriCorps Funding Fuels Community Gains

AmeriCorps made headlines last week when it announced $205 million in grants to hundreds of sponsoring organizations, including LISC. But describing the dollars alone doesn't quite capture the remarkable impact the program is having on communities all across the country. LISC AmeriCorps members help nonprofits develop affordable housing, reduce crime and run employment and financial counseling programs that lift the prospects of low-income families. Our 2014 funding means 160 new members will help improve the quality of life in disadvantaged neighborhoods--most coming from the very communities where they will work.

Featured:

In Little Tokyo, enduring values underpin plan for prosperity

In Los Angeles's Little Tokyo, residents prize the traditional values of mottainai, a desire to prevent waste and conserve the spirit of physical objects, and kodomo no tame ni, an enduring consideration for children and future generations. For Claudia Lima, LISC LA's executive director, these values have guided LISC’s work there to create transit-oriented development that preserves small businesses and parks, environmentally-friendly infrastructure and a “cultural ecodistrict” that preserves the unique and cherished traditions of this city's Japanese-American community.

SBA Community Advantage Approval

In December, LISC was granted approval by the Small Business Administration (SBA) to serve as a lender under the SBA 7a guarantee loan program. LISC's authority was granted under the Community Advantage pilot program, through which certified CDFI's are granted authority to originate and sell SBA-guarantee small business loans of up to $250,000.

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Green Planning Grant and Technical Assistance Program

LISC has launched an expanded Green Planning Grant program for owners of multifamily affordable housing. Grants support the integration of sustainable design considerations early in the design process. The investments have long-term benefits, such as cost and energy savings and healthier homes for residents.

Reconsidering Redevelopment Report released!

Reconsidering Redevelopment Report

The Local Initiatives Support Corporation is excited to announce the release of Reconsidering Redevelopment: A Closer Look at Neighborhood-Based Economic Development in Los Angeles, co-authored by more than a dozen community-based groups working in some of Los Angeles’ poorest areas. The report finds that last year’s dissolution of the Los Angeles Community Redevelopment Agency in California has eliminated effective programs that were providing jobs and homes in Los Angeles’s poorest communities. Census data reveals that the poverty rate in Los Angeles’ redevelopment project areas, where redevelopment dollars were required to be spent, is double that of the rest of the City of Los Angeles and that project areas also have disproportionate numbers of people of color. Reconsidering Redevelopment highlights the need to fill this void with new programs to address the region’s most distressed communities.

Featured:

LISC Pledges $100 Million to Transit-Oriented Development Partnership with City of Los Angeles

LOS ANGELES (October 18, 2013) – The City of Los Angeles has tapped the Local Initiatives Support Corporation (LISC) to lead a significant new effort that will develop strategies to expand affordable housing, businesses, schools and community facilities in low-income communities located along burgeoning public transit corridors. LISC’s Los Angeles program has committed an initial $100 million in development capital to new transit-oriented projects around the city. LISC will also be conducting community-specific market assessments over the next 18 months, working closely with local nonprofits and developers to draw up blueprints for focused local investment in communities where transit expansion is either planned or underway.

A Clear-Eyed Strategy for TOD

A Clear-Eyed Strategy for TOD

Southern California is in the midst of a transformation driven by an influx of investment in public transportation. Developing affordable homes near transit is critical if we are to reduce congestion, strengthen neighborhoods and bring people closer to jobs. LISC's partner Public Counsel today released an important white paper on transit-oriented development (TOD).  Entitled Transit Laws’ Impact on Local Joint Development:  An Explanation of Real and Perceived Barriers to Affordable Housing it addresses pressing issues surrounding TOD.  Primarily, it lays out a strategy to promote affordable housing in collaboration with the Los Angeles County Metropolitan Transportation Authority (Metro), which, in addition to providing public transit, functions as a landowner and developer.

LISC Healthy Futures Fund

LISC is excited to announce the launch of the Healthy Futures Fund first-of-its-kind, is a $100 million investment fund to expand access to health care and affordable housing for low-income residents.  It is being launched by Morgan Stanley, The Kresge Foundation, and the Local Initiatives Support Corporation (LISC).  

The new fund includes $43 million managed by the New Markets Support Company to finance Federally Qualified Health Centers; $50 million managed by the National Equity Fund to finance 500 units through the Low Income Housing Tax Credit that are linked to health services; and $7 million in predevelopment loans, guarantees and grants.  

Read for more details.

 

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LISC 2013 Annual Report