LISC partner GRID Alternatives has been awarded a $249,800,000 Solar for All grant from the EPA to advance renewable and clean energy sources for affordable housing communities across the country. “The grant is an incredible boon to the movement to decarbonize homes and lower energy costs that burden millions of everyday Americans,” said Michael T. Pugh, president and CEO of LISC.

NEF, one of LISC's affiliates, invested a record $1.43 billion in Low Income Housing Tax Credit production, including $70 million in dedicated funding for developers of color, creating or preserving an additional 11,100 affordable homes nationwide.

LISC Twin Cities Celebrates $1 Billion in Investments in the Twin Cities

As it celebrates its 35th Anniversary, LISC Twin Cities announced another major milestone: $1 billion dollars of investments. Over three and a half decades, LISC Twin Cities has channeled all of this capital into transformative organizations and projects, strengthened community development infrastructure and changed systems that create and perpetuate inequality of opportunity.

In a new partnership with the City of Richmond, LISC has committed $50 million to be deployed over the next five years to create affordable housing. The funds will match the city's commitment of $50 million—totaling $100 million—and “will help accelerate the speed and scale of housing development, with a ripple effect that positively impacts jobs, health, safety and other key components of opportunity and growth,” said LISC's president Denise Scott.

The second iteration of the Charlotte Housing Opportunity Investment Fund (CHOIF II) will boost new construction and restore existing developments to help narrow city’s wide affordable housing gap. With a $5 million investment from First Citizens Bank, in addition to investments from existing partners, this new phase will build on the more than 1,500 units created through the $53 million investment in Charlotte communities during CHOIF I, which launched in 2019.

LISC has been awarded $5 million through the CDFI Fund’s Capital Magnet Fund program, which will be invested to develop some 675 units of affordable and permanent supportive housing over the next five years in a range of LISC markets. Half of those units will be dedicated to households making 50% or less of their community’s Area Median Income. Since 2010, LISC has stewarded $24.8 million in Capital Magnet Fund awards for the creation of affordable housing.