About Us
LISC transforms neighborhoods by empowering residents and by investing human and financial resources.
We support community development organizations with grants, loans and expertise to help them construct businesses, community centers and affordable homes in low and moderate income neighborhoods.
| Recent News | |
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LISC Announces a Newly Established Loan Fund in Partnership With the City of Richmond
There are over 2,800 properties in the City's Vacant Property Registry. Nearly 90%, or about 2300, of those are residential properties. Leveraged with private capital, the Neighborhood Stabilization Investment Loan Fund offers an opportunity to stimulate reinvestment in these properties and the surrounding neighborhoods. This low-interest (4.25%) loan fund will serve to incentivize project development on vacant properties for which traditional financing may deem a project infeasible. The loan fund is a Collaborative effort between the City of Richmond's Department of Economic & Community Development and Virginia Local Initiative Support Corporation (LISC), who will serve as the Loan Fund Administrator. Eligible activities will include loans for acquisition, predevelopment, and rehabilitation of residential properties located in a city identified target neighborhood or corridor. Eligible projects include 1-4 single family properties. For further information please contact John Bolton at 804-358-7602 X16 or jbolton@lisc.org. |
