Programs
For the past twenty years, LISC has been a critical link between non-profit community developers, the government, and the private sector, providing over $100 million in grants and loans and over $1 billion in equity to more than 75 community development corporations (CDCs). These groups have used those funds to develop close to 20,000 units of affordable housing in Harlem, the South Bronx, and Brooklyn. CDCs have also raised an additional $1.8 billion for neighborhood redevelopment and are responsible for at least 60,000 units of renovated and/or new homes and apartments and over one million square feet of commercial space.
Affordable housing has always been a key focal point of the LISC New York City program. CDCs are also becoming more involved in commercial and economic development initiatives and the passage of the New Markets Tax Credit will create many new opportunities for community-based commercial development projects. In addition, residents are requiring a stronger community-based focus on issues such as job training, education and the environment. LISC New York City is determined to ensure CDCs are able to meet the needs of this changing community development landscape by providing the support necessary to build the capacity of their organizations.