The CDFI Fund announced New Markets Tax Credit (NMTC) awards to 104 organizations today, including a $65 million allocation for LISC, the largest amount allocated to recipient groups. It brings LISC’s total NMTC awards to nearly $1.3 billion, which we have leveraged to fuel the development of retail, manufacturing, health care, childcare, and education facilities in under-resourced communities. LISC’s NMTC work is managed by its affiliate, Broadstreet Impact Services, a community investor and fund services firm focused social and economic impact across the country.

The development of Eastern Lofts, a $7.6 million mixed-use project in northwest Philadelphia, is proving to be a test case for how to do it right: resident input, nonprofit expertise and private capital combined to rehab a blighted landmark into mixed-income apartments, a day care center serving 80 children, a small business incubator and facilities for community groups. That the project puts housing, job creation and education all in one place, says LISC CEO Michael Rubinger, is a shining example of balanced, equitable development for communities across the country.

By Amy Gillman, National Program Director

Ample evidence has proven what good early childhood education can do for a population's intellectual, emotional and economic well-being. But to provide high quality, age-appropriate educational opportunities for all our youngest learners, we need to put our money where our mouths are, argues LISC's Amy Gillman in an op-ed for The Hechinger Report. Gillman makes the case for a serious national commitment to funding and building pre-k facilities that have the best interests of our children—and our future—in mind.

Michele Sullivan, Vice President, The Caterpillar Foundation