In an in-depth article for The Journal of Affordable Housing and Community Development Law, attorneys David Goldstein and Jason Labate offer a case study of the Joint Operating Entity NYC (JOE NYC), which LISC has supported from its inception. The JOE NYC, a consortium of CDCs that have pooled their portfolios and expertise, is a blueprint that can help CDCs in other cities and regions shore up their stability in challenging markets and gain ground against the national affordability crisis.
Together with NYU and sponsorship from LISC, researchers at UC Berkeley have just released new findings about how development in the New York metro area is creating “islands of exclusion” and displacing more and more longtime residents. An interactive Urban Displacement Map, a byproduct of the investigation, aims to serve as an “early warning tool” to help affordable housing advocates and policy makers protect and preserve community stability.
In a letter to the New York Times responding to an article about dwindling opportunities for low-skilled workers, Sam Marks, LISC NYC executive director, makes the case for baking equity and inclusion into economic development incentives and policies. By doing so, New York and others cities can support affordable housing and businesses that offer middle-skill jobs, and ensure that all residents benefit, regardless of their background.
LISC CEO Maurice A. Jones and Diane Yentel, CEO of the National Low Income Housing Coalition, make the imperative case for two key housing programs in an op-ed for Affordable Housing Finance. As a new nominee is poised to take charge of the Federal Housing Finance Agency, they write, we must absolutely safeguard the Housing Trust Fund and the Capital Magnet Fund, which have provided essential support for affordable housing creation in the midst of the affordability crisis.
"This rating reaffirms LISC’s ongoing capacity to support inclusive growth and broadly shared prosperity across the country,” said Maurice A. Jones, LISC president and CEO. S&P pointed to LISC’s financial stability, track record of performance and community impact as compelling indicators for its ‘AA’ rating.