In just one year, LISC’s partnership with the Chan Zuckerberg Initiative, Facebook, the San Francisco Foundation and others has hit its $500 million goal—well ahead of schedule and already making inroads to preserve, produce and protect affordable housing with new loans to mission-driven groups.
LISC and the Walton Family Foundation have announced the first recipients of the Spark Opportunity Grant Program, a $2 million initiative to provide planning grants to support the creation of affordable facilities for schools in Opportunity Zones and other under-resourced communities. Twenty-six high-performing schools will receive the initial round of funding, and a second round is already open to applicants.
Fifth Third Bank hosted an event at LISC’s national headquarters this week to announce $100 million in Opportunity Zone investments and tap LISC”s National Equity Fund (NEF) affiliate as one of its four investment partners. NEF will focus $25 million of Fifth Third’s capital to support housing developments for working families, building on its more than 30 years of investments in affordable housing.
LISC has named one of Richmond's leading voices on economic development to head its community investment efforts in central Virginia. Jane Ferrara, who most recently served as Richmond’s senior deputy director for economic development, will direct LISC’s local efforts to expand affordable housing, businesses and jobs as part of a comprehensive strategy to catalyze opportunity for residents.
Grants totaling $3 million from the NFL Foundation and LISC’s Grassroots Field Grant Program will benefit 14 cities to build or refurbish neighborhood football fields. Since 1998, the program has provided nearly $61 million in support to create or refurbish 376 fields nationwide. This most recent round of funding will impact cities including Akron, Chicago, Flint and Tempe.