LOS ANGELES, California – February 28, 2022 – Local Initiatives Support Corporation announced that the non-profit has received a $750,000 grant over three years from Merritt Community Capital Corporation to support and expand the work of LISC’s Housing Development Training Institute (HDTI) by three times the amount of participants, training the state of California’s next generation of affordable housing developers.
Since 1988, the California LISC offices have sponsored numerous HDTI programs, resulting in over 450 graduates representing 100 community development organizations throughout California. The HDTI program was created as a response to an unmet educational need for a comprehensive program to develop the project management skills of the staff of community development corporations.
“LISC launched HDTI over 30 years ago to respond to the lack of affordable housing training needed for project managers to succeed in the field – and now it has grown to produce hundreds of graduates who are changing the affordable housing landscape throughout the state of California,” said Tunua Thrash-Ntuk Executive Director of LISC LA. “This incredibly generous gift from Merritt Capital will allow LISC offices throughout the state to continue HDTI’s mission and work to show the importance of having diverse affordable housing professionals.”
Over the next three years, Merritt is contributing $2.5 million as part of their Commitment to California initiative to educate, train, and support over 800 professionals via scholarships, internships, career development, and innovative engagement. As an avid supporter of LISC, Merritt sees this contribution to their HDTI program as a tangible way to create an impact in the affordable housing industry.
“I am thrilled to partner with Merritt Community Capital Corporation on expanding HDTI,” said Cindy Wu, the Executive Director of LISC Bay Area. “Collectively we will build the skills and knowledge needed to increase affordable housing, for communities and color, and by communities of color.”
This grant from Merritt will allow California LISC offices to continue the goals of the HDTI program, which include:
Increasing the development capacity of community-based nonprofit development organizations by providing practical, comprehensive, and intensive skill training in affordable housing development and community development strategies and techniques.
Increasing the supply of affordable housing through the program's emphasis on production as part of the learning process.
Fostering a network of project management professionals who serve as a resource to each other, share information, and provide peer support throughout their careers.
“Merritt strongly believes that HDTI is the most consequential program in California for affordable housing development,” states Ari Beliak, Merritt’s CEO and President. “As we invest in the future of California’s affordable housing through our Commitment to California initiative, we are excited to partner with LISC to grow the HDTI program, training more effective leaders in the industry.”
Merrit is dedicated to working with mission-aligned developers and funders and is committed to supporting the success of the affordable housing industry through financial contributions to programs such as HDTI. “We see the effort and investment into the next generation of affordable housing leaders, and the focus on equity, diversity and inclusion, as fundamental to building a better California,” said Beliak.
Through groundbreaking projects and partnerships, LISC is committed to creating a more equitable, safe, and fair California. To sign up for newsletters to stay up-to-date with LISC Bay Area news and announcements, visit here. For more information on the HDTI program visit: here.
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About LISC
With residents and partners, LISC forges resilient and inclusive communities of opportunity across America – great places to live, work, visit, do business and raise families. Since 1979, LISC has invested $20 billion to build or rehab 400,500 affordable homes and apartments and develop 66.8 million square feet of retail, community and educational space. LISC Bay Area equips and empowers local leaders and organizations to build their own agendas and futures. We partner with local organizations that engage residents, businesses, service providers and faith-based organizations in the work of neighborhood development. For more, visit https://www.lisc.org/bay-area/
About Merritt
Merritt is California’s nonprofit funder of affordable housing and mission is at the core of everything we do. For more than 30 years we have been your trusted partner, investing more than $1 billion, creating nearly 10,000 affordable homes across California. We are dedicated to working with mission-aligned developers and funders to make the most challenging affordable housing projects possible. We do this by offering terms that meet project needs today and foster preservation of affordability for tomorrow. Beyond investing in properties, Merritt dedicates ourselves to investing in the people and policies that shape the industry. For more, visit www.merrittcap.org