LISC has been selected to develop and administer the second phase of a substantial grant initiative that turns "zombie" and vacant properties across New York State into liveable and affordable homes for families. This next round of the program, which will support 76 municipalities, also helps connect at-risk homeowners with foreclosure prevention resources.
The new Partnership for the Bay’s Future will address the Bay Area’s interconnected challenges of housing, transportation, and economic opportunity. LISC will manage a $500 million Investment Fund, one of the largest in the nation, that will work on preserving and producing affordable housing. The partnership includes the San Francisco Foundation, the Chan Zuckerberg Initiative, the Ford Foundation, LISC, Facebook, Genentech, the William and Flora Hewlett Foundation, the David and Lucile Packard Foundation, and Silicon Valley Community Foundation.
As we kick off 2019, LISC is continuing to grow its investments in economic opportunity and its on-the-ground presence in communities across the country. We unveiled a new program office in Charlotte this week that will spearhead $25 million in investments over the next few years—all designed to boost affordable housing, improve economic mobility and raise standards of living in North Carolina’s largest city. Long-time community leader Ralphine Caldwell has been named executive director to lead the effort.
LISC and State Farm expanded their long-time partnership this week with new funding to boost economic opportunities in 11 cities. "Millions of people are looking for opportunities to earn higher wages and build stronger futures for their families,” said Maurice Jones, LISC president and CEO. "Our partnership with State Farm is vital to advancing this important work.”
The Treasury Department’s CDFI Fund announced a new round of Capital Magnet Fund grants to spur an expected $3.2 billion in affordable housing and economic development. LISC will use its $7.5 million award—the largest in this round of funding—to seed $150 million in development activity in urban and rural communities.