Public programs that pave the road into the middle class are an investment in our country’s greatest asset—its people. As LISC and other organizations weigh in on the USDA’s proposed rule changes to the Supplementary Nutritional Assistance Program, Maurice A. Jones, LISC’s president and CEO, discusses the imperative of protecting federal assistance that helps catalyze financial stability for our country’s most vulnerable residents—and boosts the health of our economy.
This year, the Federal Reserve is taking a “listening tour” of America in order to update its economic policies and strategy. In an article for Vox, economist Jared Bernstein analyzed a recent Fed panel where LISC CEO Maurice A. Jones described how the tight labor market has the potential to help those the economy has long left in the dust. The Fed, noted Bernstein, would do well to heed that insight.
A new bipartisan bill would create a tax credit to attract capital to single-family housing rehabilitation efforts and expand affordable homeownership. The Neighborhood Homes Investment Coalition, of which LISC is a member, is advocating for the proposed program as a powerful opportunity to encourage redevelopment and revitalize communities.
A deeply-reported MarketWatch article unpacks the incredibly complex process of creating affordable housing by profiling an apartment complex in Washington D.C. that LISC has helped preserve. Extensive interviews with our CEO, LISC D.C. executive director Ramon Jacobson and senior program officer Adam Kent are at the heart of this emblematic story of how we bring together private and public capital partners with developers and residents, and work to empower people to stay in the places they call home. A must read.
The Community Development Financial Institutions (CDFI) Fund, part of the U.S. Treasury Department, announced the recipients of $3.5 billion in New Markets Tax Credit (NMTC) allocations for 2019. The awards include $60 million for LISC, which will be deployed through its subsidiary, the New Markets Support Company (NMSC). Since its inception, NMSC has harnessed $1 billion in tax credits to offer flexible capital for projects that benefit low-income communities across the country--projects ranging from Cincinnati’s CityLink Center, home to 15 social service agencies, to a health clinic-plus-grocery store in Brockton, Mass. to a public library in Petersburg, Va.