|
 |
||||||||||||
 |
 |
 |
||||||||||
| Avondale wins MetLife revitalization award | LISC-GCNK receives $1 million investment from Greater Cincinnati Foundation | Avondale tree plantings involve stakeholders, improve neighborhood | ||||||||||
 |
 |
|||||
| NSP funds assist place matters neighborhoods | Meet our Americorps members! | |||||
| LISC to provide technical assistance to NSP recipients | ||||||
| LISC receives $115 million NMTC award | ||||||
| Green Preservation | ||||||
 |
||||||
| Avondale wins MetLife revitalization award |  |
|||
| A partnership of community groups were recognized with a $15,000 Neighborhood Revitalization Award for their Community Safety Initiative in August for their work to stabilize Avondale and make the community safer. The awards are sponsored by MetLife Foundation and administered by the Local Initiatives Support Corporation (LISC). | ||||
| The Uptown Public Safety Initiative was one of just 11 awardees out of a record 650 applicants to receive the award. The initiative includes the Avondale Community Council, Cincinnati Police Department
, the Uptown Consortium, Inc., and seven other community partners. They are using crime mapping and analysis tools, strategically-placed surveillance cameras and more police patrols, efforts that have reduced overall crime by 10% and serious crimes involving firearms by 41%. |
||
|
||
 |
LISC-GCNK receives $1 million investment from Greater Cincinnati Foundation | |||
| LISC of Greater Cincinnati Northern Kentucky has received $1 million in program-related investments (PRIs) from The Greater Cincinnati Foundation (GCF). LISC was one of three organizations selected by GCF to benefit from the investments, which include low-interest loans and loan guarantees. |
| LISC will use the money to fund transformational neighborhood projects in the place matters neighborhoods of Price Hill, Covington and Avondale, as well as other communities. The projects will include housing and commercial development across the region. 3CDC received $1.5 million to redevelop 32 market-rate and 25 affordable housing units in Over-The-Rhine’s Gateway IV district; and the Uptown Consortium will use $546,000 toward commercial redevelopment on Burnet Avenue in Avondale. | ||
| The use of PRIs by community and private foundations has grown steadily during the past five years, according to a national study by FSG Social Impact Advisors. Unlike grants, the foundation receives a return on the investment through repayment or return on equity, which can then be invested again into the community, creating additional opportunities and increasing the impact of contributions. | ||
|
||
| Avondale tree plantings involve stakeholders, improve neighborhood | ||
 |
||
| With a grant from Chase Bank, LISC provided support to Avondale Redevelopment Corporation in an effort to plant 40 trees in Avondale’s Avenue District. The project, which involved more than 100 residents, stakeholders, volunteers and youth, beautified an area bounded by Burnet, Forest, Drury and Erkenbrecher Avenues . It also energized residents and stakeholders to work towards stabilized property values, increased investment and improved quality of life. | ||
| This project began in June and culminated in three days of planting throughout October. The trees will add value to the neighborhood, create a safer walking environment, improve air quality and aesthetics and lower air temperature. Partners included the Cincinnati Zoo and Botanical Garden, Cincinnati Children’s Hospital Medical Center, Model Group, LISC and Avondale Youth Council. | ||
|
||
| AmeriCorps members | ||
| Last issue we announced that LISC-GCNK would be working with AmeriCorps members in partnership with local non-profit agencies. We’re pleased to announce the members are in place, working to revitalize Greater Cincinnati communities. As pictured below, they are: | ||
 |
||
| Front Row | ||
|
||
| Second Row | ||
|
||
| Not pictured: Celeste Yoder of Working in Neighborhoods, doing housing development, program outreach and pre-purchase counseling. | ||
|
||
|
|||
| NSP funds assist place matters neighborhoods | |||
| The three place matters neighborhoods of Price Hill,Covington and Avondale are busy putting their Neighborhood Stabilization Program (NSP) funds to work. | |||
 |
 |
 |
||||||||||
| Price Hill was awarded $1.323 million. Of that amount, Price Hill Will will receive $819,000 for acquisitions and rehab of blighted and foreclosed properties, which will allow the agency to triple its Buy-Improve-Sell program. LISC is in the process of increasing Price Hill Will's $300,000 revolving funding for this program by $250,000. | Covington received $5 million, with $800,000 of it awarded to The Center For Great Neighborhoods for acquisition and rehab of blighted and foreclosed properties. LISC assisted with a bridge loan for acquisition prior to NSP funding. | Avondale was awarded $559,900, with $420,000 going to the Avondale Redevelopment Corp. for acquisition and rehab of blighted and foreclosed properties. LISC assisted its foreclosure program with a $75,000 bridge loan for NSP funding. | ||||||||||
| LISC to provide technical assistance to NSP recipients |  |
||||
| LISC received $3.6 million from the U.S. Department of Housing and Urban Development to provide technical assistance to help improve the effectiveness of neighborhood stabilization programs. It’s part of HUD’s $50 million effort to help state and local governments address the inventory of foreclosed properties assisted under the Department's Neighborhood Stabilization Program (NSP). | |||||
| The grant award designates LISC to help NSP grantees to implement sound underwriting, management, and fiscal controls; measure outcomes in the use of public funds through accurate and timely reporting; build the capacity of public-private partnerships; develop strategies to serve low-income households; and incorporate energy efficiency into State and local NSP programs. | ||
| LISC receives $115 million NMTC award | |||
 |
|||
| The federal government has announced an additional $5 billion in awards through the New Markets Tax Credit (NMTC) program, which allows taxpayers to receive a credit against federal income taxes for making qualified equity investments in designated Community Development Entities (CDEs). LISC received a $115 million NMTC award, the second-largest in this round of awards. Since the program's inception, LISC has received $623 million in NMTC awards, making it the largest NMTC award recipient to date. | |||
| In the 43 NMTC transactions LISC has closed, the projects have development costs of over $1 billion, are expected to generate 4.7 million square feet of commercial and community space, 407 housing units, 8,300 construction jobs and 7,300 permanent jobs. LISC has worked with over half of its stand-alone sites, along with transactions with the Rural LISC, Educational Facilities Financing Center, and Gulf Rebuilding Initiatives programs, and look forward to adding more sites to our portfolio. The website www.liscnewmarkets.org , the primary entry point into the program, posts information about projects and facilitates the processing of potential NMTC financing opportunities. | |||
 |
Green Preservation | |||
| If you’re embarking on a green rehabilitation project, the new LISC publication Getting Started with Green Preservation: An Introduction to Issues and Resources for Greening Existing Affordable Housing is sure to help. It’s a step-by-step guide to making existing affordable housing greener. | ||||
| If you would like a copy contact Brooke Linkow at BLinkow@lisc.org. | ||||
 |
|
This email was sent to [email address suppressed] | |
Forward this email