LISC and the Ewing Marion Kauffman Foundation embarked on a multi-year partnership to create and launch the Catalytic Urban Predevelopment Fund to spur development in Kansas City neighborhoods by providing capital for the early, more risky phases of real estate projects.
The Kauffman Foundation and LISC launched the Fund in 2016 in partnership with the Hall Family Foundation, City of Kansas City, and Unified Government of Wyandotte County. The partners envisioned the Fund as a catalyst – offering low-interest, flexible predevelopment loans for projects ranging from affordable and mixed-income housing to commercial enterprises and community facilities.
LISC is grateful for the Kauffman Foundation’s inaugural support of the Fund, which has already seen results. Since its inception, it has provided $2.35 million in loans to support 14 projects that will lead to 250 new housing units, a cultural center, grocery store, and other community assets.
We look forward to continuing our partnership with the Ewing Marion Kauffman Foundation to increase economic growth and renewal in under-resourced neighborhoods across Kansas City.
The Ewing Marion Kauffman Foundation champions bold ideas on education and entrepreneurship to change futures because it believes that every person should have the opportunity to fulfill their dreams and be uncommon.