increasing family income and wealth
Building family wealth and income, including improving residents’ skills and access to living wage jobs and creating opportunities for new homeowners is another critical element of sustainable communities.
One sign of a thriving Sustainable Community is that residents feel confident that their lives will improve or remain stable, their incomes rise, and their job prospects will improve. LISC’s affordable housing development programs advance this goal by providing a baseline of economic stability and the opportunity to build equity. When a family moves into an affordable rental apartment they gain not only shelter, but a stable foundation on which to build their lives.
An example of how we are undertaking this goal:
Virginia LISC provided a $100,000 pre-development and acquisition loan to Boaz and Ruth – a nonprofit organization that works with ex-offender adults to help them learn new job skills for new financial and personal success.
