LISC New Markets Program
LISC’s Building Sustainable Communities strategy helps drive the plans, programs and projects that transform disinvested neighborhoods into good places to live, work, raise families and do business. It encompasses a range of activities focused on five goals: increased investment in affordable housing and other real estate, access to quality education, building family incomes and assets, promoting safe and healthy lifestyles and stimulating economic development.
New Markets Tax Credits are a critical tool in LISC’s Building Sustainable Communities arsenal, attracting private capital to commercial real estate activities focused on low-income residents and the communities where they live. LISC focuses on financing retail, industrial, educational and community space as well as small business operations and expansion that generate jobs, provide needed goods and services, connect to affordable housing and reverse long-standing physical deterioration in struggling communities.
LISC’s New Markets efforts are managed by New Markets Support Company (NMSC), a nonprofit LISC affiliate and spin-off from LISC’s National Equity Fund, the nation’s largest Low Income Housing Tax Credit syndicator. NMSC draws on the on-the-ground experience and connections of LISC’s 30 local urban programs and a national rural program that includes 74 partners nationwide, as well as NEF’s state-of-the-art technology and back-office support.
LISC is bringing the value of the NMTCs to its local and national programs. This involves providing NMTC financing for transactions in communities served by our 30 local programs and by community development corporations supported by our Rural LISC program, transactions in other non-metropolitan communities, and transactions supported by our national programs (such as the Educational Facilities Financing Center).
LISC only provides NMTC financing to projects that satisfy its social investment criteria – (1) demonstrated support of the local community, (2) likelihood of generating tangible economic and / or social benefits, (3) contribution to the longer-term development of a healthy, sustainable community and region, (4) environmental soundness and (5) need for NMTC financing to generate these benefits. LISC receives many more requests for NMTC financing than the amount of investment authority that it has available. LISC chooses among transactions that satisfy its social investment criteria based on the extent to which a transaction advances a LISC program’s community development strategy.
LISC’s New Markets Tax Credit program considers the specifics of individual projects in which we invest as well as their impact on broader neighborhood revitalization. Shopping centers can stimulate the redevelopment of expansive commercial strips. Arts-related projects can underpin revived entertainment districts or supplement nearby educational programs with dance, music, theater and a range of visual and multimedia arts
LISC has supported incubator space for local entrepreneurs, helped public charter schools reach thousands of underserved students, expanded affordable day care options for low-income parents and kids, and restored abandoned, toxic industrial sites to healthy, productive use.
New Markets Tax Credits are critical to the work we are doing in communities across the country.
New Markets Tax Credits are a critical tool in LISC’s Building Sustainable Communities arsenal, attracting private capital to commercial real estate activities focused on low-income residents and the communities where they live. LISC focuses on financing retail, industrial, educational and community space as well as small business operations and expansion that generate jobs, provide needed goods and services, connect to affordable housing and reverse long-standing physical deterioration in struggling communities.
LISC’s New Markets efforts are managed by New Markets Support Company (NMSC), a nonprofit LISC affiliate and spin-off from LISC’s National Equity Fund, the nation’s largest Low Income Housing Tax Credit syndicator. NMSC draws on the on-the-ground experience and connections of LISC’s 30 local urban programs and a national rural program that includes 74 partners nationwide, as well as NEF’s state-of-the-art technology and back-office support.
LISC is bringing the value of the NMTCs to its local and national programs. This involves providing NMTC financing for transactions in communities served by our 30 local programs and by community development corporations supported by our Rural LISC program, transactions in other non-metropolitan communities, and transactions supported by our national programs (such as the Educational Facilities Financing Center).
LISC only provides NMTC financing to projects that satisfy its social investment criteria – (1) demonstrated support of the local community, (2) likelihood of generating tangible economic and / or social benefits, (3) contribution to the longer-term development of a healthy, sustainable community and region, (4) environmental soundness and (5) need for NMTC financing to generate these benefits. LISC receives many more requests for NMTC financing than the amount of investment authority that it has available. LISC chooses among transactions that satisfy its social investment criteria based on the extent to which a transaction advances a LISC program’s community development strategy.
LISC’s New Markets Tax Credit program considers the specifics of individual projects in which we invest as well as their impact on broader neighborhood revitalization. Shopping centers can stimulate the redevelopment of expansive commercial strips. Arts-related projects can underpin revived entertainment districts or supplement nearby educational programs with dance, music, theater and a range of visual and multimedia arts
LISC has supported incubator space for local entrepreneurs, helped public charter schools reach thousands of underserved students, expanded affordable day care options for low-income parents and kids, and restored abandoned, toxic industrial sites to healthy, productive use.
New Markets Tax Credits are critical to the work we are doing in communities across the country.