LISC has just been awarded nearly $13.5M in HUD Section 4 capacity-building program grant money, earmarked for local community groups who are dedicated to economic development and creating affordable housing. The award will propel the organization's long-running capacity-building efforts with the critical partners whose work helps create more vibrant, inclusive economies and opportunities for residents of under-served communities.
The excerpt below was originally posted by the U.S. Department of Housing and Urban Development:
HUD AWARDS $36 MILLION TO BOOST LOCAL ECONOMIC DEVELOPMENT AND AFFORDABLE HOUSING PROGRAMS
WASHINGTON - More than 250 communities across the country will be able to increase the economic impact of their local community development and affordable housing programs for low- and moderate-income persons through $36 million in "capacity-building" grants awarded by the U.S. Department of Housing and Urban Development (HUD). The funds awarded will support three national organizations and are ultimately expected to produce approximately 8,000 units of affordable housing nationwide and stimulate nearly $150 million in total investment.
Three national groups were selected to distribute the funds to local initiatives that support affordable housing and community development - Local Initiatives Support Corporation (LISC); Enterprise Community Partners, Inc.; and Habitat for Humanity International.
“I am pleased to announce these funds to build affordable housing and make communities stronger,” said HUD Deputy Secretary Adrianne Todman during a virtual press call announcing the awards. “With this innovative pot of funds, we are building the capacity of local organizations to really solve the problems their communities are facing in the affordable housing and community development space. President Biden’s Build Back Better framework, which makes the single largest and most comprehensive investment in affordable housing in U.S. history, will enhance our ability to benefit even more communities.”
“HUD’s Section 4 Capacity Building Program plays a vital role in the work we do at Enterprise to make homes and communities places of pride, power, and belonging,” said Enterprise Community Partners President and CEO Priscilla Almodovar. “Section 4 grants enable nonprofits to better serve the unique needs of communities by providing them with flexible resources and training to develop affordable housing, support small businesses, and revitalize commercial corridors. This support for organizations to expand their services and help our nation rebuild from the pandemic is critical, particularly as the Administration and Congress work to provide historic levels of investment in housing and community development programs through the Build Back Better Act.”
"Section 4 is a direct investment in a more broadly shared prosperity,” said Lisa Glover, interim LISC president and CEO. “It builds the resiliency of our communities by strengthening local organizations that fuel affordable housing, strong businesses, health, education and jobs. It underpins more vibrant, more inclusive local economies, especially as we emerge from the pandemic, and it creates pathways to opportunity that would not otherwise exist. We’re honored to receive this award and to work with HUD and our local partners to deploy this vital resource across the country.”