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Undeterred by the recent housing and credit crises, Local Initiatives Support Corporation is partnering with Liberty Bank to create affordable housing in the bank's market area, which includes Connecticut counties Middlesex and New London, Mansfield, Windham, Marlborough, Wethersfield, Wallingford, Cheshire, North Haven and Madison. The joint program will make available low-interest loans of up to $250,000 for purchase, pre-development and construction costs in central and eastern Connecticut and on the shoreline. The affordable-housing loan program is funded through a $1 million line of credit issued by Liberty Bank to LISC. More[+]... |
The Ash Institute for Democratic Governance and Innovation at Harvard Kennedy School announced the New York City Acquisition Fund as a 2008 Innovations in American Government Awards winner. LISC partnered with the City of New York, Enterprise and a number of banks and philanthropic foundations to establish the NYC Acquisition Loan Fund, with the goal of enabling non-profit and small for-profit developers to acquire sites for affordable housing in the private market. The Fund will receive $100,000 towards dissemination and replication efforts around the country. More[+]... |
