LISC's most important continuing responsibility is to provide capital investment for an increasingly diverse array of real estate development projects in low-income communities. An essential characteristic of this investment is our ability to attract other capital and forge new relationships, leveraging our dollars and accelerating the pace of physical change.

• Low-Income Housing Tax Credits

  The federal low income housing tax credit was established in 1986 to encourage private investment in affordable rental housing. LISC's affiliate, National Equity Fund, Inc. (NEF), is the nation’s largest nonprofit syndicator of the credits, providing equity capital for multifamily housing projects. Since 1987, NEF has been involved in developing 1,300 affordable housing developments in 250 urban communities and rural areas.

• Affordable Housing Preservation

  Nearly 2 million units of federally assisted rental housing face expiring rent and mortgage subsidies and soon may no longer be available to low-income residents. LISC's Affordable Housing Preservation Initiative is dedicated to preserving as affordable as many of those units as possible. The program provides technical support to LISC's field offices and local CDCs, seeks new financing solutions to keep those units affordable, and maintains partnerships with other nonprofits to keep those properties safe and in good repair.

• Public Housing

  In many cities, local housing authorities (LHAs) that administer public housing projects are the largest landlords in areas targeted for redevelopment by LISC CDCs. LISC established the Housing Authority Resource Center (HARC) to encourage productive relationships among those housing authorities and local LISC programs. That encouragement comes in the form of financial and technical assistance for innovative development, preservation and redevelopment.

• Vacant Properties

  Dilapidated buildings and vacant lots decrease property values, reduce tax revenues, discourage development and are potential fire hazards and magnets for crime. In many neighborhoods, however, they also represent tremendous redevelopment opportunities. To help municipalities and community groups address those problems, LISC created a Vacant Properties Initiative and in partnership with several other national organizations developed the National Vacant Properties Campaign. The Campaign serves as an information clearinghouse, advocates for property reclamation, and offers expert assistance to communities.