LISC Twin Cities Partners,
We are proud to announce that the Neighborhood Development Center (NDC) is the first group to access funds from the $30 million Community Asset Transition (CAT) Fund.
On Monday, NDC acquired a corner lot at Chicago Avenue and E. Lake Street that will likely transform into a multi-story commercial complex that may include affordable housing. The CAT Fund provides accessible and affordable sources of capital to prevent displacement and to help empower community-driven visions, plans, and development for transformational community ownership and wealth building in the areas most affected by the civil unrest. It was created by LISC Twin Cities in partnership with Hennepin County, JP Morgan Chase, the Minneapolis Foundation, the Bush Foundation, and the McKnight Foundation.
To read the full announcement, visit StarTribune. To share the announcement on social media, find the posts on Twitter and Facebook.