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With support from Starbucks and OFN's Create Jobs for USA initiative, LIIF's investment in Alliance for College-Ready Public Schools will build two new schools creating 59 permanent and 70 construction jobs.

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In this Issue:

Robert Wood Johnson Foundation Talks with LIIF about Community Development & Health

LIIF’s Investments Build Schools & Create Jobs

Nancy Andrews Discusses the Future of Community Development at Interagency Conference

Cecil Williams House Infant Care Center Opens in San Francisco

Capital Magnet Fund Helps LIIF Preserve Affordable Housing

CDFIs Collaborate to Support Charter School in Brooklyn

LIIF Invests in Colorado Health Clinic Co-Located with Affordable Housing

Green Retrofits for 429 Units of Affordable Housing in San Francisco

LIIF Receives Fifth Consecutive New Markets Tax Credit Allocation

LIIF in the News: Food Truck Debut, Energy Efficiency Grant from Bank of America
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NY HFHC apples Robert Wood Johnson Foundation Talks with LIIF about Community Development & Health

Nancy O. Andrews, President and CEO of the Low Income Investment Fund (LIIF), was interviewed by NewPublicHealth.org, an online community hosted by the Robert Wood Johnson Foundation (RWJF). Ms. Andrews discusses how the health and community development sectors are interconnected and can work together to address poverty. In the piece, she notes, “Human development, community development and health are inseparable. There is a growing body of knowledge that makes it clear that the communities we live in can help us or hurt us in every conceivable way.”

NewPublicHealth.org is an online community created by RWJF to examine new approaches to the nation’s health problems. In addition to Ms. Andrews, the site features interviews with leaders in community development such as David Erickson of the Federal Reserve Bank of San Francisco, Raphael Bostic of the U.S. Department of Housing and Urban Development and Mark Pinksy of Opportunity Finance Network.

More information

Read more about the NewPublicHealth.org post
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ACE CBS LIIF’s Investments Build Schools & Create Jobs

LIIF was among the first CDFIs to receive a grant from the Starbucks & Opportunity Finance Network (OFN) initiative, Create Jobs for USA. Using this support, LIIF has invested in community businesses, such as ACE Charter School (ACE) in San Jose, California. ACE creates educational opportunities for underserved students in the Mayfair neighborhood, one of the poorest areas in the city. With support from Create Jobs for USA, LIIF’s investment is helping ACE to build a new middle school for 450 students. Building the new school is creating seven permanent jobs at the school and 40 construction jobs.

In a piece by CBS 5 San Francisco, Brian Prater, LIIF’s Managing Director, Western Region; Greg Lippman, ACE’s Executive Director; and Dennis Smith, ACE’s construction site manager, talk about the impact the new school will have on local students, families, workers and the community. The school will be open for the fall 2012 school year.

The Create Jobs for USA campaign provides CDFIs, like LIIF, with capital to invest in community businesses across the country. A video produced by Create Jobs for USA also highlights LIIF’s investment in Alliance for College-Ready Public Schools.

More information

Watch the CBS 5 piece on ACE

Learn more about ACE Charter School

Watch the Create Jobs for USA video featuring Alliance
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NOA NICRC Nancy Andrews Discusses the Future of Community Development at Interagency Conference

The 2012 National Interagency Community Reinvestment Conference drew 770 community development professionals to Seattle, Washington. LIIF President and CEO Nancy O. Andrews participated in a plenary session about the future of community development with Ellen Seidman, Federal Reserve Bank of San Francisco, Raphael Bostic, U.S. Department of Housing and Urban Development, and Eric Belsky, Harvard University. In a separate interview at the conference, Ms. Andrews urged the sector to think about its long-term goals and to make the case for the societal benefits of community development.

In addition to the plenary session, Ms. Andrews spoke to attendees at a breakout session about health and community development, and LIIF COO Kimberly Latimer-Nelligan participated in sessions about the CDFI Bond Program and charter school investments. The bi-annual conference is co-hosted by the Federal Reserve Bank of San Francisco, in partnership with the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency and the U.S. Department of the Treasury's Community Development Financial Institutions Fund.

More information

Watch Ms. Andrews' interview

Watch highlights from day three of the conference
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CWHouse Cecil Williams House Infant Care Center Opens in San Francisco

Earlier this year, the LIIF-supported Cross Cultural Family Center celebrated the grand opening of an infant center at the Cecil Williams (CW) House, a supportive housing site for families in the Tenderloin neighborhood of San Francisco. The CW House is operated by the Glide Foundation and Glide Community Housing. The new center will provide care for infants and young toddlers of homeless and housed families in the neighborhood. LIIF’s Child Care Facilities Fund (CCFF) provided $19,800 in support for start-up and operating costs for the center. CCFF is a public-private collaboration that provides capital and technical assistance to expand and improve center- and family-based child care facilities. CCFF San Francisco is funded by the City and County of San Francisco. Cross Cultural Family Centers, the nonprofit which will operate the new center at CW House, serves over 400 children and families in six infant and toddler programs across San Francisco.

More information

Read more about the Infant Center at the Cecil Williams House

Read more about CCFF
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Juniper Gardens Capital Magnet Fund Helps LIIF Preserve Affordable Housing

LIIF, in partnership with Enterprise Community Loan Fund, provided Wakeland Housing Development Corporation (Wakeland) with financing to preserve affordable housing at Juniper Gardens. LIIF used funds from its Capital Magnet Fund award to provide credit enhancement for its portion of the loan. The U.S. Department of the Treasury created the $80 million Capital Magnet Fund to encourage investment in affordable housing and economic development in low income and underserved areas.

With this support, Wakeland, a nonprofit housing developer, is preserving 40 units of affordable multifamily apartments, all of which receive Section 8 rental assistance. Wakeland acquired and is rehabilitating the existing buildings, which are located in the low income City Heights neighborhood of San Diego. In addition to upgrades to the apartments, Wakeland is constructing a new 1,600-square-foot, solar-powered community center and a playground on the site.

More information

Read more about Juniper Gardens

Read more about the Capital Magnet Fund
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Ascend logo CDFIs Collaborate to Support Charter School in Brooklyn

LIIF, along with The Reinvestment Fund and Enterprise Community Loan Fund, participated in financing led by the Nonprofit Finance Fund to enable Bushwick Ascend Charter School to renovate a 50,000-square-foot space for their 548 students. LIIF also coordinated $1.3 million of U.S. Department of Education charter school credit enhancement through the Charter School Financing Partnership for the project. The new elementary school campus is located in Bushwick, a low income neighborhood in central Brooklyn. Bushwick Ascend is a one-year-old charter school operated by Ascend Learning, a nonprofit charter management organization that operates three schools in Brooklyn and aims to bridge the achievement gap for economically disadvantaged children.

More information

Read more about the Bushwick Ascend Charter School

Read more about financing for schools
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CCH Logo LIIF Invests in Colorado Health Center Co-Located with Affordable Housing

Colorado Coalition for the Homeless (CCH) offers medical, educational and housing services in urban and rural communities in Colorado. LIIF provided CCH with financing for the West End Health Center, a 7,400-square-foot health center co-located with a 101-unit mixed-use affordable housing development in Denver. The 100% affordable housing development includes 50 supportive housing units for homeless individuals and families. The new clinic will cater to the 50 supportive units as well as families in the surrounding low income community. The clinic is projected to employ eight full-time employees and serve 1,200 Medicaid-qualified clients in its first year.

The West End Health Center will offer a host of services including primary health care, mental health care, substance treatment counseling, pharmacy and nursing services and patient education. CCH will also provide onsite counselors and case managers for the tenants of the 50 supportive units in the housing development. LIIF’s financing, which included credit enhancement from the Capital Magnet Fund, is helping CCH complete the build out of the health clinic.

More information

Read more about the West End Health Center
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BAM Housing Green Retrofits for 429 Units of Affordable Housing in San Francisco

This year, LIIF closed three loans to green 429 units of multi-family affordable housing in San Francisco. The loans were made in partnership with Enterprise Community Partners through the Energy Upgrade California / Bay Area Multifamily (BAM) Fund. The financing enabled Tenderloin Neighborhood Development Corporation and Community Housing Partnership to implement green retrofits to five properties. Through the BAM Fund, LIIF and Enterprise’s support included full assessments of the properties’ energy efficiency needs and leveraged financing from San Francisco’s Weatherization Assistance Program, administered by the Green Retrofit Initiative and Mayor’s Office of Housing. The BAM Fund provides up-front capital and technical assistance to help multifamily affordable housing owners retrofit their properties with affordable loans for energy efficiency upgrades.

More information

Read more about the BAM Fund
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New Settlement Construction LIIF Receives Fifth Consecutive New Markets Tax Credit Allocation

LIIF received its largest and fifth-consecutive award of New Markets Tax Credits (NMTCs) from the U.S. Treasury Department’s Community Development Financial Institutions Fund. LIIF received an allocation of $50 million in NMTC awards. To date, LIIF has received $210 million of NMTC allocation from the program. LIIF will use the award to continue to invest in better schools, healthier neighborhoods and more jobs for low income communities. For example, LIIF provided $10 million in NMTCs to build the New Settlement Community Campus (pictured left). The campus is a 24,000-square-foot facility that will provide space for after-school and community programming in the Bronx.

More information

Read more about New Settlement Community Campus

Read more about LIIF's NMTC Program
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$20 billion
in benefits for families
& communities



$1 billion
invested in neighborhoods


1 million
people served

Our Impact arrowDarkGreen
 
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LIIF in the News

05.22.12
Massachusetts Avenue Project unveils new food truck
WBFO News

04.06.12
LIIF Helps ACE Build New School & Create Jobs
CBS 5 San Francisco

04.05.12
Funding and Incentivizing Energy-Efficient Building Retrofits
Sustainable Communities eNews

04.04.12
Nancy Andrews on Healthy Communities: Critical Discussion on Community Development and Health
NewPublicHealth.org

03.07.12
Food Desert Fund Distributes $6 Million
Supermarket News

02.24.12
$3.6 Billion in NMTC Awards Announced
Affordable Housing Finance
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© 2012 Low Income Investment Fund
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San Francisco, CA 94111
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www.liifund.org
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