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 grant of $4.8 million from the Treasury Department's Capital Magnet Fund will help LISC leverage nearly $50 million in private capital to invest in impoverished communities. The investments will be targeted for supportive and other affordable housing for extremely low-income and other vulnerable people, as well as for economic development in places where traditional financing is hard to come by.
Sen. Pat Roberts (R-KS) toured the Children’s Campus of Kansas City today—where nonprofits offer an integrated set of health and education programs all focused on families and children from birth to age five. LISC helped finance CCKC through loans and the New Markets Tax Credit program, recognizing that quality facilities focused on early learners are one key to helping at-risk kids succeed.