- About Us
- Our Work
Especially in the early planning stages, community-based developers need flexible money to make neighborhood revitalization projects happen. We provide early, higher risk capital to affordable housing and other real estate projects, which helps developers leverage additional permanent funding.
For more about our financial tools, please contact a LISC Twin Cities Program Officer.
We provide nonprofit developers with small grants to assess the feasibility of promising real estate development projects. For example, grant funds may be used to conduct a market study, complete preliminary architectural designs, or hire consulting assistance. These resources are limited.
Before a project’s permanent or construction financing closes, nonprofit developers usually need to spend money to position the project for successful financing. Those expenses may include the completion of architectural designs, legal work, survey and engineering studies, and environmental testing.
LISC makes recoverable grants—0% interest, non-recourse obligations—to community developers to cover these expenses after they've obtained control of a development site. The LISC recoverable grant is repaid from construction or permanent financing proceeds.
LISC has a variety of flexible lending products designed to help local groups bring development projects to fruition. Our loans cover every phase of development, from acquisition to working capital and all the steps in between. We are committed to working together with developers to get projects done, whether it entails building affordable housing or a school or launching a retail or commercial venture. Here is a summary of what we offer.
Please keep in mind that terms are subject to change and all loans must go through underwriting and credit approval processes.
We provide equity for affordable housing, community, and commercial projects throughout the region.
Our equity for affordable housing development is offered through the National Equity Fund, an affiliate of LISC that syndicates the federal Low Income Housing Tax Credit. For more information about Low Income Housing Tax Credit equity for affordable housing projects in the Twin Cities and the Upper Midwest region, please contact Jim Steiner, National Equity Fund consultant, 651-265-2288.
LISC has also received allocations of New Markets Tax Credits for commercial developments. Investments made in commercial projects using this allocation may be in the form of equity or lower interest, longer term financing. Learn more about New Markets Tax Credits here. For more information about LISC’s New Market Tax Credit products for Twin Cities projects, please contact a LISC Program Officer.