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Local Initiatives Support Corporation
501 Seventh Avenue, 7th FloorNew York NY, 10018-5903
Local Initiatives Support Corporation (LISC) supports the efforts of resident-led, community-based development organizations in low-income communities throughout America. It will use its NMTC allocation to provide loans and equity investments ranging from $5 to $15 million to finance office, retail, and mixed-use real estate developments, as well as community facilities, such as charter schools. LISC requires that its NMTC investments satisfy social investment criteria by demonstrating: (1) a need for NMTC financing, (2) an ability to generate significant community benefits, (3) the support of the local community, (4) environmental soundness, and (5) consistency with community or regional revitalization efforts.
CDFI Awards for Local Initiatives Support Corporation
NMTC (2009) - $115,000,000
Local Initiatives Support Corporation (LISC) will use its NMTC allocation to finance office, retail and mixed-use real estate developments, as well as community facilities. LISC operates across the nation through 30 geographic-specific programs and a number of national initiatives, including the Rural LISC program. LISC will offer equity products on more favorable terms than can be offered from private market sources, and loans with interest rates of up to 500 basis points below-market. LISC requires that its NMTC investments: (i) demonstrate a need for NMTC financing; (ii) generate significant community benefits; (iii) have the support of the local community; (iv) are environmentally sound; and (v) are consistent with community or regional revitalization efforts.
NMTC (2008) - $80,000,000
Local Initiatives Support Corporation (LISC) provides capital, technical expertise, training, and information to support the creation of affordable housing; commercial, industrial, and community facilities; local businesses; and jobs. LISC operates across the nation through thirty geographic-specific programs and a number of national initiatives, including the Rural LISC Program. LISC generally expects to make loans and investments ranging from $5 million to $15 million to finance office, retail and mixed-use real estate developments, as well as community facilities, such as charter schools. It will provide loans with interest rates of up to 500 basis points below market.
NMTC (2007) - $133,000,000
Local Initiatives Support Corporation (LISC) supports the efforts of resident-led, community-based development organizations in low-income communities throughout America. It will use its NMTC allocation to provide loans and equity investments ranging from $5 to $15 million to finance office, retail, and mixed-use real estate developments, as well as community facilities, such as charter schools. LISC requires that its NMTC investments satisfy social investment criteria by demonstrating: (1) a need for NMTC financing, (2) an ability to generate significant community benefits, (3) the support of the local community, (4) environmental soundness, and (5) consistency with community or regional revitalization efforts.
FA (2007) - $480,000
The Local Initiatives Support Corporation (LISC) is a national organization dedicated to helping community development organizations transform distressed neighborhoods into healthy and sustainable communities. Since 1980 LISC has invested $7.5 billion in grants, loans and equity in neighborhoods, leveraging an additional $21.3 billion in total development. Its investments have led to the creation of thousands of affordable homes and apartments; jobs; child care centers; new schools; and commercial businesses. LISC will use its FY07 Financial Assistance award to implement an innovative, cutting edge “Green program.” The program can serve as a model for other organizations and will directly help both low income families as well as the entire community.
NMTC (2006) - $140,000,000
Local Initiatives Support Corporation (LISC) has a national service area consisting of the communities served by its 33 local offices and rural program. LISC expects to use nearly all of its NMTC allocation to make loans and investments that finance office, retail, and mixed-use real-estate developments, as well as community facilities such as charter schools. LISC intends to offer loans in its program areas with interest rates from 200 to 500 basis points below market rates with amortization schedules of 25 years or more. LISC also intends to provide equity on more favorable terms than those available from private market sources.
FA (2006) - $585,000
Local Initiatives Support Corporation (LISC) is a 25 year-old non-profit CDFI serving low-income people nationwide. The $585,000 Financial Assistance Award will be used by LISC"s rural program - Rural LISC - provide capital and technical assistance to six community development organizations that serve rural populations in Mississippi, Louisiana, Texas, and Florida. These community development organizations will provide affordable mortgages for homes uninsured for damages or destroyed by Hurricanes Katrina, Rita and Wilma.
NMTC (2005) - $90,000,000
Local Initiatives Support Corporation (LISC) will use its NMTC allocation to provide loans and equity investments in low-income communities served by the community development corporations that it supports. LISC expects to use nearly all of its NMTC allocation to make loans and investments that finance office, retail, and mixed-use real-estate developments, as well as community facilities, such as charter schools. LISC will use its NMTC allocation to offer more favorable debt and equity products to community development projects within its program areas.
FA (2005) - $950,000
LISC received a financial assistance award of $950,000 to provide equity to help capitalize its Mezzanine Capital Fund, which will provide subordinated financing of real estate development projects in distressed rural areas across the country.
FA (2004) - $2,000,000
Local Initiatives Support Corporation (LISC) will use the award to deploy a new product through its Preservation Enhancement Fund for financing the preservation of Federally-assisted affordable rental properties. The $2 million Financial Assistance award will directly leverage an additional $8 million in financing from LISC"s existing lending pool, plus at least $136 million in additional financing, to preserve 3,600 units in 27 projects over three years. Although LISC expects to support preservation transactions in CDFI Hot Zones throughout the U.S., it will focused the financial assistance award on Hot Zones in 11 target metropolitan areas: Boston, Chicago, Cincinnati, Cleveland, Hartford, Milwaukee, New York, Philadelphia, Pittsburgh, San Francisco, and Washington DC.
NMTC (2002) - $65,000,000
LISC intends to utilize its NMTC allocation to: 1) purchase a portfolio of its own real estate loans, so that it may issue additional long-term loans with better pricing through the NMTC; 2) provide debt and equity investments in direct support of commercial real estate projects, including community facilities; and 3) make investments in and loans to other CDEs. LISC believes that the NMTC Program will allow it to expand the volume and improve the terms of its financing for its commercial revitalization projects, and to develop stronger partnerships with CDCs.
CORE (2000) - $1,000,000
The profile for this award is not currently available.
CORE (1999) - $1,000,000
The CDFI Fund"s $1,000,000 capital grant will provide financing to organizations creating or improving childcare facilities through LISC"s Childcare Collaborative for Kids.
CORE (1998) - $1,000,000
With the help of the CDFI Fund, Rural LISC will be able to increase its level of low-cost loans, grants, and technical assistance to rural CDCs providing affordable housing and other essential facilities to eligible investment areas.
CORE (1997) - $1,000,000
A $1,000,000 grant from the CDFI Fund will be targeted to LISC"s four new economic development programs.
CORE (1996) - $1,000,000
A CDFI Fund investment of a $1 million grant will help LISC leverage additional financial support targeted to its new rural market. This support will increase the scope of the sophisticated support services provided to low-income rural communities.
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