Inclusive Equitable Investment Strategy
Our country is at a turning point. There are millions of people brimming with talent and communities blessed with extraordinary assets, poised to contribute to all the things that make this country hum and keep us competitive on the world stage. Our challenge is to push aside the obstacles and catalyze opportunity for all.
Over the next three years, we aim to invest more than $91 million in Detroit neighborhoods to catalyze opportunity for residents and communities 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.
By the end of 2022, this $91 million fund will:
- Create 1,000 units of affordable housing
- Preserve 3,000 units
- Improve 500 units
- Invest $50 million in affordable housing through LISC lending products
- Create strategies to support 200 small businesses
- Connect 4,5000 individuals and families to greater financial stability
- Invest $1 million in two Economic Development Districts (Milwaukee Junction and Southwest Detroit)
- Invest in minority contractors and finance Developers of Color
- Invest in 100 businesses that serve disadvantaged communities
- Deploy 50 AmeriCorps members to support neighborhood revitalization
This new Inclusive Equitable Investment Strategy builds on our 30 year foundation with an increased focus on economic development. Our priorities are creating and preserving affordable housing, attracting new businesses to residential areas and building the skills and earning power of local residents that have often been marginalized by the traditional economy. We are also focused on creating diversity, inclusion and racial justice strategies.
We are making intentional and meaningful change to promote neighborhood revitalization in Detroit in the context of racial equity. We know that innovative private-public partnerships and new collaborations with key stakeholders are critical to this work.
Check out our 2020 Dashboard to see our progress on the Inclusive Equitable Investment Strategy
