LISC is a financial intermediary that provides loans and lines of credit, grants and recoverable grants, and equity investments to help community developers and other partners revitalize their neighborhoods. Real estate development includes: for-sale and rental housing; community facilities such as child care centers, schools, health care facilities, playing fields; and economic development projects such as retail and commercial buildings, and commercial corridor revitalization.
Why Virginia LISC?
The community development industry in Virginia has few strong sophisticated nonprofit organizations that can put a single family, multi-family or commercial project together without assistance. LISC fills a critical role that very few can play in community development lending.
As a result of LISC’s track record for knowing how community development lending works, LISC receives calls from all kinds of customers (lenders, nonprofits, housing authorities, individuals, state and local government, and for-profit developers) asking for assistance. This assistance varies depending on the level of experience of the customer and the complexity of the project. Below are examples of technical assistance that Virginia LISC provides:
- Helping customer identify appropriate partners and engage members of their development team (architect, engineer, contractor, appraiser, market analyst)
- Help preparing and reviewing project budgets and in building relationships with other lenders and funders
- Assistance in structuring project financing
- Help group develop support for their project from local and state government entities and assist in removing barriers (community, zoning, political)
- Help banks understand the real estate transaction not only from a credit analysis but also from a community and strategic commitment to an entire neighborhood.
- Advocate for project
Virginia LISC welcomes the opportunity to work with high performing community development corporations, other nonprofits, housing authorities and for-profit developers who are sensitive to the special needs and requirements of the community development industry.
For complete and detailed information on Virginia LISC financial products, call the LISC office at (804) 358-7602 ext 16 or firstname.lastname@example.org. Eligibility requirements apply. Terms and Fees are subject to change.