Local Initiatives Support Corporation (LISC)
Neighborhood Allies is proud to be the local Southwestern Pennsylvania affiliate of LISC.
LISC is Building Sustainable Communities by achieving five goals:
- Expanding Investment in Housing and Other Real Estate
- Increasing Family Income and Wealth
- Stimulating Economic Development
- Improving Access to Quality Education
- Supporting Healthy Environments and Lifestyles
For more than three decades, LISC has connected local organizations and community leaders with resources to revitalize neighborhoods and improve quality of life. The LISC model assembles private and public resources and directs it to locally-defined priorities. This unique structure enables local organizations to access national resources and expertise and funding partners to leverage their investment and achieve an impact that is truly remarkable. .
LISC is dedicated to helping community residents transform distressed neighborhoods into healthy and sustainable communities of choice and opportunity — good places to work, do business and raise children. LISC mobilizes corporate, government and philanthropic support to provide local community development organizations with:
- loans, grants and equity investments
- local, statewide and national policy support
- technical and management assistance
LISC is a national organization with a community focus. Program staff are based in every city and many of the rural areas where LISC-supported community development takes shape. In collaboration with local community development groups, LISC staff help identify priorities and challenges, delivering the most appropriate support to meet local needs.
Contact Zak Thomas, Senior Program Officer, Community Development Lending for more information on local Pittsburgh services/support: firstname.lastname@example.org or 412 471-3727 x216.
National Equity Fund, Inc. (NEF)
Since 1986, the federal low income housing tax credit has helped fund more than one million new homes that are affordable to low-income families, the formerly homeless, the elderly and the disabled. It offers institutional investors a credit against their federal income tax in return for their low income housing investments. As a tax credit syndicator, LISC’s National Equity Fund, Inc. (NEF) raises money from investors and identifies low income housing projects in which to invest that capital.
New Markets Support Company
To help spur new businesses, economic growth and new jobs in low-income communities, the federal government in 2000 established the New Markets Tax Credit (NMTC) program, allowing investors to receive a credit against federal income taxes for investing in such neighborhoods. LISC’s New Markets Tax Credit (NMTC) activities stimulate the investment of private capital in the distressed communities that LISC serves. A pioneer in the creation and use of this new federal program, LISC has focused its efforts on financing the development of commercial and community space and housing that generate jobs, provide needed goods and services, and reverse physical deterioration in struggling communities. LISC’s NMTC efforts are managed by the National Equity Fund, Inc., its tax-credit equity affiliate which has invested more than $5.5 billion in low income communities over the last 20 years.