2010 Annual Report

Toledo

A Comprehensive Community Developer

LISC Toledo’s vision is simple and sharply focused – building Toledo’s hope, one block at a time. Yet, it’s more than just houses. While LISC works in close partnership with nonprofit, community-based organizations to develop quality, affordable housing and attractive commercial areas in Toledo, we also work to assure that all of the desirable features of great neighborhoods are available in Toledo’s oldest areas. We expanded our AmeriCorps program; now five members assist in education, community building and healthy food initiatives, all in targeted areas. Other examples include:

Improving Access to Education

LISC made a $389,000 loan to help finance over $4 million in renovations for the nationally recognized Toledo School for the Arts (TSA’s) expansion of both of its academic offerings and its intensive arts curriculum. Completed in September 2008, renovations included a new dance studio, 10 new classrooms, a theater, a gallery, a new cafeteria and a technology lab. U.S. News and World Report ranked the Toledo School for the Arts as a Bronze Award winner and it is in its fifth year of being ranked "Excellent" by the Ohio Board of Regents. The school has reached its maximum enrollment and maintains an extensive waiting list of potential new students.

Investing in Family Financial Stability

In partnership with the United Way, Toledo LISC and the LISC Family Income and Wealth Building program orchestrated the start up of an FOC program with United North, one of our sustainable community convening organizations. LISC staff led a process that secured over $200,000 in contracts for United North from the Lucas County Jobs and Family Services office. With United Way support, we continue to convene the "Financial Opportunity Center Exploration Team" as a collaborative way to build out this program in at least two Toledo neighborhoods.

Preserving the Physical Environment

Toledo LISC developed a unique $800,000 loan to assist Neighborhood Housing Services to re-acquire a $1.2 million loan portfolio consisting of a variety of first and second mortgages. This will retain loan servicing in Toledo and will also re-capitalize the NHS affordable mortgage loan pool to assist even more families in Toledo to acquire homes. In addition, Toledo LISC has played a pivotal role in the Neighborhood Stabilization Trust II Consortium, which was awarded $10.2 million. Development plans include 36 single-family homes and 200 multi-family housing units.