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LISC will seed a new small business development fund and spur healthy food-related enterprises with this week's award from the federal Community Development Financial Institutions Fund (CDFI Fund). The funding will help support entrepreneurs, create jobs, expand local incomes and reduce blight in low-income areas.
The award-winning Home Preservation Initiative (HPI) has been selected as one of 19 multi-sector partnerships to participate in the national BUILD Health Challenge. HPI provides home repairs to low-income, elderly, and disabled residents in West Philadelphia. BUILD provides an opportunity to engage new partners to reduce the burden of unhealthy housing on youth with asthma.
LISC has been tapped to manage an $18.5 million investment from Facebook to help community groups and the city of East Palo Alto create quality affordable housing in Silicon Valley. LISC plans to quadruple the Catalyst Fund to $75 million to address affordable housing and access to economic opportunity for local residents.