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LIIF has achieved a huge milestone: $1 billion invested and one million people served. See how we did it and read about the people we have served.

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In this Issue:

LIIF Receives $5.5 Million from Bank of America for Energy Efficiency Financing

Industry & Policy Leaders Discuss “How Housing Matters”

CDFIs v2.0: The Vision of a New Generation

LIIF & Partners Receive Affordable Housing Award from California HCD

Calvert Foundation Highlights LIIF Project

Exploring the Partnership between Community Development & Health

Markets to Bring Healthy Food & Jobs to New York

New Markets Tax Credits Support Transformative Community Campus in the Bronx

Novogradac Awards Recognize Pike Place Market Project

Catch-Up with LIIF in Colorado, California and Washington

LIIF in the News: Giving, Investing & Social Impact; CPEEP in Southern California; Transit-Oriented Development
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 Nihonmachi far 2 LIIF Receives $5.5 Million from Bank of America for Energy Efficiency Financing

Bank of America awarded LIIF $5.5 million to expand its energy efficient retrofit financing program. LIIF is partnering with the Stewards for Affordable Housing for the Future (SAHF), a network of nonprofit housing organizations, for the program that will provide financing to retrofit up to 2,500 affordable housing units nationally.

SAHF members will access long-term financing to pay for the upfront costs of the energy efficiency upgrades on their portfolios of housing with the aim of reducing energy and water consumption in the units by 20% – lowering costs, preserving housing affordability and improving resident comfort and health.

More information

More about the Bank of America award

Read about LIIF's Green Financing Program
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housing matters Industry & Policy Leaders Discuss “How Housing Matters”

At a conference in the fall, LIIF President & CEO Nancy O. Andrews joined housing industry leaders and policy makers to discuss how access to affordable housing support children’s healthy physical and mental development, increases employment opportunities for adults and creates long-term neighborhood revitalization.

Ms. Andrews’ panel, “Evidence to Policy and Practice,” wrapped up the event with reflections on the conference sessions and implications for the future. In addition to Ms. Andrews, the panel included Xavier Briggs, Massachusetts Institute of Technology; Derek Douglas, the White House; Frances Ferguson, Neighborworks America; Sandra Newman, Johns Hopkins Institute for Policy Studies; Michael Stegman, the John D. and Catherine T. MacArthur Foundation; and the Honorable Erika Poethig, U.S. Department of Housing and Urban Development.

More information

Watch the “Evidence to Policy & Practice” session
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CDFIs 2.0 cover CDFIs v2.0: The Vision of a New Generation

Opportunity Finance Network (OFN) launched the CDFIs v2.0 initiative in 2010 to bring together young professionals in the CDFI industry to discuss the future of the sector. LIIF's Associate Director National Strategic Initiatives and Senior Loan Officer Hannah Blitzer was selected as one of the 26 participants in CDFIs v2.0 out of a pool of more than 120 applicants.

Based on meetings and conversations, the group developed CDFIs v2.0: The Vision of a New Generation, a paper that identifies five ways in which the CDFI industry can increase its effectiveness and impact. The group's recommendations are:
  • Strategically recruit new talent
  • Increase opportunities for training and advancement
  • Improve social impact measurement and collection
  • Collaborate and innovate to use resources more efficiently
  • Diversify capital sources and improve
  • transparency
More information

Read more about CDFIs v2.0
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HCD logo-color-gradient5 LIIF & Partners Receive Affordable Housing Award from California HCD

The Department of Housing and Community Development (HCD) awarded a $23 million loan as seed capital to implement the Golden State Acquisition Fund to finance affordable housing. The loan was awarded to a consortium of four nonprofit community development financial institutions (CDFIs), including LIIF, Enterprise Community Loan Fund, the Rural Community Assistance Corporation and Century Housing. The CDFIs will use the funds to provide loans to developers for affordable housing acquisition and preservation across the state.

More information

Read more about the HCD award

Read about LIIF's Affordable Housing Program
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St Johns spencer Calvert Foundation Highlights LIIF Project

LIIF provided New Markets Tax Credits to help St. John’s Bread & Life, a Brooklyn-based emergency food provider, build a new, expanded facility. The project enabled St. John’s Bread & Life to increase the number of meals it serves by 40%.

LIIF’s support of St. John’s Bread & Life was featured in a Calvert Foundation blog piece by Sally Boulter, Calvert’s Manager of Individual Initiatives, highlighting the benefits of having investment and philanthropic funds to support high-impact community projects. St. John’s Bread & Life and one its beneficiaries, Naishaune Spencer, were also featured in Calvert’s 2011 Social Impact Report, the foundation’s annual report on the positive results of its investments for disadvantaged communities.

More information

Read more about St. John’s Bread & Life

Read the Calvert blog piece by Sally Boulter

Read Calvert’s 2011 Social Impact Report
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HA_cover 3 Exploring the Partnership between Community Development & Health

A recent issue of Health Affairs, the nation’s leading journal on health policy thought and research, included an article by lead author David Erickson of the Federal Reserve Bank of San Francisco and co-author Nancy O. Andrews, President & CEO of LIIF.

In “Partnerships among Community Development, Public Health, and Health Care Could Improve the Well-Being of Low-Income People,” Erickson and Andrews describe how the community development sector’s work supports many of the fundamental building blocks for healthy communities, such as affordable housing, healthy food access and transit-oriented development, and explore potential areas for future collaboration.

More information

More about the Health Affairs article
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MyTown Marketplace - Ribbon-Cutting 4 Markets to Bring Healthy Food & Jobs to New York

Two New York food markets are getting off the ground thanks to support from the New York Healthy Food & Healthy Communities (HFHC) Fund. LIIF joined New York City Mayor Michael Bloomberg to celebrate the ground breaking of a Key Food grocery store in Staten Island. The store owner is receiving a $3.7 million loan from the HFHC Fund, as well as support from New York City’s FRESH program to open a new store, which will create 33 new jobs.

Also in the fall, state and local officials, including New York’s Agriculture and Markets Commissioner Darrel J. Aubertine, were on hand to help store owners Albert Rodriguez and Lisa Berrios celebrate the grand opening of MyTown Marketplace in the village of Highland Falls, New York. Financing from the New York HFHC Fund, enabled Mr. Rodriguez and Ms. Berrios to reestablish a previously closed grocery store in their community. The owners have hired eight full-time and 19 part-time employees.

More information

Read about the Key Food Project

Read about the MyTown Marketplace Project
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new settlement groundbreak New Markets Tax Credits Support Transformative Community Campus in the Bronx

Settlement Housing Fund (SHF) is a 40-year-old organization committed to revitalizing the Bronx and has developed over 8,700 apartments for more than 25,000 low- and middle-income residents. To broaden the impact of their work, SHF is building a community center in the Mt. Eden section of the Bronx, an area where over 40% of residents live below the poverty line.

LIIF provided New Markets Tax Credit (NMTC) financing as part of an $18 million transaction for the project. The New Settlement Community Campus will be a 24,000-square-foot facility that includes a new K-12 public school, an indoor swimming pool, multipurpose rooms, dance studios, a cooking classroom, an educational green roof terrace and gallery space. The campus will provide after-school arts and recreation programming for 1,100 students. The center is being developed with the NYC School Construction Authority.

More information

Read more about New Settlement Community Campus

Read about New Markets Tax Credit financing
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novo_awards6 Novogradac Awards Recognize Pike Place Market Project

The Novogradac Community Development Foundation (NCDF) recognized the Pike Place Market renovation project with an Honorable Mention in the Real Estate QLICI of the Year category at its annual New Markets Tax Credit Investors Conference. LIIF, Kitsap County NMTC Facilitators I and Seattle Investment Fund LLC provided New Markets Tax Credits (NTMCs), and US Bank provided the equity investment for a $34.9 million renovation to the market grounds.

Pike Place Market is one of the oldest public markets in the nation and is a critical economic driver for the City of Seattle. The NMTC financing helped many of the 500 vendors stay open during construction, which was particularly critical for the low income and minority small business owners operating at the market.

More information

View the Novogradac award video
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  Catch-Up with LIIF in Colorado, California and Washington

LIIF team members recently appeared in sessions at the New Partners for Smart Growth Conference in San Diego and at the New York City Economic Development Corporation’s New Market Tax Credit Conference. If you missed us at these events, connect with LIIF at one of these upcoming conferences:
More information

Read more about these events
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$20 billion
in benefits for families
& communities


$1 billion
invested in neighborhoods

1 million
people served
 
 
Our Impact 
 
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LIIF in the News

01.20.12
Which is Better? Giving or Investing?
Calvert Foundation Blog

11.25.11
School Board Fine-Tunes Improvements
Newport Beach Independent

11.23.11
It's a breath of FRESH air as supermarket breaks ground
Staten Island Advance

11.20.11
Latino owners open supermarket and help create jobs in Highland Falls, New York
Examiner.com

10.17.11
New LIIF-Enterprise Partnership to Push for TOD
Multi-Housing News
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