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Since 1980 when the Local Initiatives Support Corporation
(LISC) was created by the Ford Foundation, LISC has strived
to bring business acumen and resource access to community-based
leaders who have been catalysts for positive change.
Across
America, in big cities and small towns, LISC has supported
the development of childcare centers, health clinics, alternative
schools, shopping centers, factories, and playgrounds as
well as quality apartments and homes. Total community investments
for these activities now total almost $14 billion and
160,000 housing units.
LISC has been active in Virginia since 1990, primarily serving
the capital region. Providing grants, working capital and
loan funds to our Community Development Corporation (CDC)
partners, LISC had made it possible for dozens of neighborhoods
to receive strategic, targeted real estate investments, helping
approximately 3,000 families to have access to better housing,
childcare and employment choices. Through the generosity
of both private and public supporters, LISC and our partners
have invested over $250 million in the Central Virginia region.
At the beginning of 2005, after a year-long planning process,
LISC was authorized to thoughtfully and methodically expand
our geographic footprint. Additionally, we have broadened
our customer base to include high-performing CDCs, other
nonprofit agencies, public housing authorities and for-profit
developers who are sensitive to the issues involved in successfully
transforming neighborhoods that have, in the past, suffered
from disinvestment. Our newly developed strategic goals include
the production of 2,500 units of housing and the facilitation
of $250 million of community rebuilding investments by 2010.
To accomplish these ambitious goals, LISC offers the following
financial products to its customers:
• Planning and operational grants - limited availability
• Loan capital for pre-development, acquisition, construction
and mini-permanent financing
• Equity investments for low income housing, historic
and new market tax credit eligible projects
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Welcome