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Maurice Jones, Virginia’s commerce secretary and a former HUD official, has been chosen to serve as LISC’s new president and CEO. He succeeds Michael Rubinger, who will step down after 17 years as CEO. Jones brings to the leadership role a career’s worth of business, management and policy experience, as well as an enduring personal commitment to improving communities and the lives of low-income Americans. Read the press release!
Attorney General Eric Schneiderman has announced a grant program to provide funds to municipalities all over New York State to fund zombie/vacant property programs and initiatives with a focus on implementing the new zombie law passed in June. LISC will issue invitations to 100 municipalities across New York State to apply for $13 million in funds made available from the bank settlement reached with Morgan Stanley. Click here for LISC's fact sheet on the initiative.
LISC NYC has been awarded $500,000 from the Citi Foundation’s Community Progress Makers Fund, which recognizes visionary nonprofit organizations and new approaches to long-standing urban economic challenges in the United States. The grant will support LISC NYC’s core operations over two years to grow impact development initiatives, real estate projects that drive neighborhood economic development led by mission-oriented, community-based organizations committed to social change. Read the release!
On June 30th, the City of New York purchased 24 distressed mortgages for one- to four-family homes in the Bronx, Brooklyn, Queens, and Staten Island. The purchase was made through the Community Restoration Program, which aims to keep people who are at risk of foreclosure in their homes. The $13 million purchase was funded with $1 million in seed money allocated by the New York City Council, which in turn leveraged $6.9 million in private financing from Goldman Sachs’ Urban Investment Group, and a $2.2 million grant from LISC, which was funded by a bank settlement obtained by the New York State Attorney General. The Community Restoration Program, which is being carried out through a partnership between the City and five nonprofit organizations, the Center for NYC Neighborhoods, MHANY Management, Inc., Neighborhood Restore Housing Development Fund Corporation, the National Community Stabilization Trust, and Preserving City Neighborhoods Housing Fund Corporation, will serve as a model for cities around the nation seeking to purchase distressed mortgages from the federal government as a strategy for preserving affordable housing and stabilizing neighborhoods. Read the Mayor’s Press Release here.
LISC NYC and its affiliate, the National Equity Fund, Inc. (NEF), have closed on Tres Puentes, a new, 175-unit affordable housing complex for low-income tenants seniors in the Mott Haven neighborhood of the Bronx. Tres Puentes is owned by West Side Federation for Senior and Supportive Housing, Inc., a longtime LISC NYC community development partner.
We congratulate Colleen Flynn, LISC NYC’s Director of Programs, for being recognized as a rising star in the 40 under 40 inaugural class of the New York City Food Policy Center at Hunter College! The Food Policy Center recognizes policymakers, educators, community advocates, farmers and innovators who are making significant strides to create a healthier and more sustainable food environment!
Students from Mt. Eden’s Comprehensive Model School Project 327 joined on May 16th with New Settlement Apartments, LISC NYC and Groundswell to unveil a public mural about food justice and the role that food workers play in bringing affordable, healthy food to New York. Read the story and see the photos!
LISC's new video charts the career of retiring LISC president and CEO Michael Rubinger and his vision for revitalizing the country’s most disinvested neighborhoods, his long-standing commitment to local CDC partners and his transformative impact on the field of community development. LISC started in New York City more than 35 years ago and now has offices in 31 cities, and Michael was there at the beginning. He led the organization for the past 17 years as CEO and leaves LISC following its best year investing in low-income communities. During a May 5th celebration of his work, he credited LISC’s achievements to talented staff, past and present, and to the monumental work of community leaders “who do what I could never do.” See the video!
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