Core Operating Grants Provide Support for NE Ohio CDCs
Cleveland OH - The Northeast Ohio Local
Initiatives Support Corporation (LISC) recently completed an inaugural round of
Core Operating Support Program grants.
The program provides core-operating grants to support development
initiatives sponsored by new, emerging, or small non-profit development
corporations in Northeast
Ohio. Grantees receive up to $25,000 with an
opportunity to renew the grant for an additional year.
“As part of a Strategic Planning process last year, we asked CDCs about their most pressing needs,” states India Pierce Lee, Senior Program Director. “The response was an almost unanimous request for more operating dollars. We felt a need to respond locally to this increasing demand we see with LISC sites all over the country. We are fortunate to have the generous support of local cities, banks, foundations, corporations, and others in the community.”
Eligible projects include housing development, commercial/retail development, or industrial development ventures of appropriate scale and impact. The project or program may be undertaken by the applicant CDC, its' subsidiary, or a CDC in joint venture with either another non-profit or a for profit corporation.
Grantees will also be eligible for additional training and technical support designed to strengthen their organizational and development capacities. Predevelopment and other loans in the LISC portfolio are also available to assist in project development and completion. “Core operating support is vital to the long-term integrity of these emerging organizations,” says Lee, “We’re excited to partner with northeast Ohio cities to offer a package of resources – from operating dollars and project loans and grants to organizational development and technical assistance for CDCs in Northeast Ohio.”