August 23, 2014 11:43 AM ET

Commercial Services and Supplies

Company Overview of Local Initiatives Support Corporation

Company Overview

Local Initiatives Support Corporation provides community development programs for the creation of housing, commercial, industrial, and community facilities, as well as businesses and jobs in America. It offers loans, lines of credit, grants and recoverable grants, and equity investments; technical assistance in the fields of housing development, organizational capacity building, and community development; and organizational and professional development projects, including conferences and workshops. The company also operates various special programs, such as supportive public policy, research and assessment, and volunteerism and civic engagement programs. In addition, it operates a Web portal...

501 Seventh Avenue

New York, NY 10018

United States

Founded in 1980

Phone:

212-455-9800

Fax:

212-682-5929

Key Executives for Local Initiatives Support Corporation

Chief Executive Officer
Chairman and Senior Counselor
Age: 75
Chief Financial Officer and Executive Vice President
Chief Operating Officer and Executive Vice President
Chief Information Officer and Senior Vice President of Information Technology
Compensation as of Fiscal Year 2014.

Local Initiatives Support Corporation Key Developments

Morgan Stanley, Kresge Foundation, The and the Local Initiatives Support Corporation Launch $100 Million Investment Fund Linking Healthcare and Affordable Housing in Low-Income Communities

Morgan Stanley, Kresge Foundation, The and the Local Initiatives Support Corporation have launched a first-of-its kind $100 million investment fund that is designed to expand access to health care and affordable housing for low-income residents and fund critical social services that help link the two in impoverished neighborhoods. Called the Healthy Futures Fund, it is in part response to the Patient Protection and Affordable Care Act, and the 20 million new health care consumers that the legislation is likely to create. The fund is being seeded with capital to build 500 housing units with integrated health services and to construct eight federally qualified health centers that will serve an estimated 75,000 people. It is designed to spur collaboration among health care providers and housing developers who do not often work together even when they operate in the same low-income neighborhoods and serve the same people. The fund is utilizing federal Low Income Housing Tax Credits, federal New Markets Tax Credits, grants, loans and guarantees to raise capital. Morgan Stanley is investing $63 million in equity through the Low Income Housing and New Markets Tax credits. The Kresge Foundation, LISC and Morgan Stanley are providing another $37 million in loan and grant capital for the projects. The fund expects to expand in the coming months with additional New Markets Tax Credits and lending capital from new partners. Organizations already signed on include National Development Council, NCB Capital Impact, Capital Link, Primary Care Development Corporation, Mercy Loan Fund and Opportunity Finance Network.

Local Initiatives Support Names Brandon Holmes as Executive Director of the New LISC Peoria Program

Local Initiatives Support Corporation has named Brandon Holmes, a driving force in Cincinnati's community development industry, to lead its work revitalizing troubled neighborhoods in Peoria. Holmes will take over as executive director of the new LISC Peoria program in November. He has been meeting with the LISC Peoria Local Advisory Board to discuss strategy, connect with local community development leaders and prepare for opening the office next month. Before accepting the Peoria position, Holmes was a program officer helping lead the lending and development effort for LISC's Greater Cincinnati and Northern Kentucky program. Prior to that he was vice president of development with Community Redevelopment Group and a managing member at New Horizons Development Group, both in Cincinnati. He has also worked as a HUD fellow with both Hamilton County Planning Commission and several Cincinnati-area community development corporations.

Local Initiatives Support Corporation Announces Board Appointments

Local Initiatives Support Corporation has elected Kathryn E. Merchant, president/CEO of The Greater Cincinnati Foundation, and Nilda Ruiz, president and CEO of Philadelphia's Asociacion Puertorriquenos en Marcha (APM), to its board of directors.

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