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Today, the JPMorgan Chase Foundation announced a $500,000 grant to LISC NYC to expand one of its flagship programs—the New York Land Opportunity Program (NYLOP)— which helps mission-driven organizations develop and preserve affordable housing on their land.
Today the Local Initiatives Support Corporation New York City (LISC NYC), Citi Community Development, and the New York City Department of Small Business Services (SBS) launched a second round of the Commercial Corridor Challenge, a collaboration to strengthen and revitalize the streets, small businesses, and community-based organizations that anchor New York City neighborhoods.
A story in The Wall Street Journal highlights LISC NYC’s assistance to nonprofit owners of very low-income HUD Section 202 senior housing to preserve their buildings. The story also profiles a senior building owned by West Harlem Group Assistance, one of the community partners that is part of LISC NYC’s program, NYLOP 2.0.
LISC NYC supports local partners who invest in people and places in order to create a more equitable, inclusive, and sustainable New York City. We do this in three main ways: We provide financial and human capital to build the capacity of our partners and improve neighborhoods. We invest in affordable housing, businesses, and neighborhood assets to improve social, economic, and physical health. We amplify the voices of disenfranchised communities and advocate with them for policy solutions and resources.
Over the last 40 years, LISC NYC has invested over $2.7 billion in more than 75 New York City community development corporations (CDCs) and other local groups. With our support, these organizations have developed and preserved over 40,000 affordable homes, as well as 1.8 million square feet of retail and community space. In 2018 alone, LISC NYC closed $28 million in loans supporting over $280 million of investment in affordable housing and equitable development projects.