Equitable Impact
Our vision is that every low-income community has the chance to thrive. To achieve this vision, Detroit LISC equips struggling communities with the capital, strategy and know how to become places where people can thrive.
To further our mission we are doubling down on our efforts starting in 2017. The new Equitable Impact Investment Fund (EIIF) will provide $75 million to ensure that all residents can participate in and benefit from decisions that shape Detroit's neighborhoods. LISC will lead coordinated collaboration between local government, anchor institutions, philanthropy, and local non-profits to foster meaningful change in Detroit neighborhoods.
We are setting ambitious benchmarks for success. By the end of 2020, this $75 million fund will support:
- 6,000 new and preserved affordable homes
- 5,000 living wage jobs for residents
- 100 small businesses
This new Equitable Impact Investment strategy builds on our 27-year foundation with an increased focus on economic development. Our priorities are attracting new businesses to struggling areas and expanding local income; outreach to nontraditional partners, especially anchor institutions, connecting them to community planning efforts; and building the skills and earning power of local residents that have often been marginalized by the traditional economy.
Our goal is to stabilize neighborhoods and support growth, most notably by shoring up the community development ecosystem of nonprofits and other partners. The fund’s first $20 million has already been committed.
