Stories
Investing In A Future For Us All: LISC’s 2023 Annual Report is here!
It was a year of new leadership, new vision and renewed commitment. We invested an extraordinary $2.4 billion and doubled down on our work to create affordable housing, catalyze financial opportunity and promote climate resiliency. And so much more.[...]
View Full ReportFrom Housing to Economic Mobility: Inside LISC’s Strategies for Change with CEO Michael T. Pugh
In a wide-ranging interview with Denver Fredericks, host of the Business of Giving podcast, LISC CEO Michael T. Pugh describes the pillars of LISC's work investing in communities and what's on the horizon for the CDFI under his leadership. "[We] can be a real catalyst for economic development in communities," says Pugh. "And frankly the best is yet to come."
Affordable, Sustainable Housing is Coming to Long Beach, California with Help from LISC
As inventory shortages and high costs are making Long Beach, CA nearly as unaffordable nearby Los Angeles, $4.34 million acquisition and predevelopment loan from LISC is helping the construction of a new affordable housing community to move forward and provide a range of apartments for families earning 30% AMI to 60% AMI.
To Safeguard Homes in California, Promote Affordability Through the Foreclosure Intervention Housing Preservation Program
California’s recently formed Foreclosure Intervention Housing Preservation Program (FIHPP) is poised to fund nonprofit housing groups to buy rental properties in or at risk of foreclosure and quickly convert them to long-term affordable housing. Now, FIHPP is hanging in the legislative balance. LISC’s Tahirih Zigler and Enterprise Community Partners’ Jacqueline Waggoner weigh in on the imperative of safeguarding the program to help spare many Californians from the preventable tragedies of displacement and homelessness.
Jorge Cruz Returns to LISC Greater Newark as Executive Director
LISC has named Jorge Cruz as executive director of LISC Greater Newark, a decades-long community investment program that has delivered more than $169 million to New Jersey neighborhoods, businesses and community organizations to support economic opportunity and growth.
With the Updated CRA in Limbo, What Comes Next?
LISC’s Matt Josephs takes a look at the long-awaited modernization of the Community Reinvestment Act (CRA), calling it "fair, workable and strong." But he also warns of the chilling effects of uncertainty, as a legal challenge stalls implementation of the final rule, and offers a series of next steps for banks, regulators and community development practitioners. "Right now, it is critical that we maintain the momentum around CRA,” he writes.
How the Federal Reserve and LISC are Supporting Families with Heirs’ Property
Natavia lives in the 800 square-foot family house her grandmother bought on the east side of Jacksonville, Florida almost 80 years ago. Natavia is the third generation to call the property home. “I value the house for the memories,” she said. “I grew up spending the summers with my grandma, hearing the stories of her walking to work way on the other side of town, just to have a home.”