It’s official! LISC has been tapped to manage an $18.5 million investment from Facebook in partnership with community groups and the city of East Palo Alto to create quality affordable housing in Silicon Valley where Facebook is headquartered. LISC plans to quadruple the Catalyst Fund, as it is known, to $75 million to address regional challenges such as affordable housing and access to economic opportunity for local residents.
Karen Davis, who has worked bringing affordable housing, businesses and jobs to Central Illinois for more than two decades, has been named the next director of LISC's Peoria office. “She understands the fundamental challenges that families face—from building the skills they need to take advantage of good jobs to gaining access to better schools, healthy housing and vibrant retail areas,” says Maurice Jones, CEO of LISC. “We’re excited to have her join the LISC family.”
Will the next great NYC ball player start here? Who knows but for this summer, middle and high school kids in Harlem and across the city will have a new gym for a 12-week hoops clinic and basketball tournament. The basketball court, inside Democracy Prep Harlem Charter School in New York City, was renovated with a new floor as part of ESPN and LISC’s Home Court program, which aims to improve the quality and accessibility of neighborhoods gyms. The NBA and NBA Cares joined in to provide equipment and uniforms for the grand re-opening.
The unemployment rate is at a record low, but millions of Americans still have difficulty finding a living wage job. The challenge is especially acute for people returning to their communities after incarceration. A new $4.5 million grant to LISC from the U.S. Department of Labor will expand services at LISC's Financial Opportunity Centers to address the particular challenges they face and, in the process, reduce recidivism, make communities safer, and boost local economic activity.
JPMorgan Chase is funding expansion of an innovative collaboration between LISC and Mission Asset Fund to extend the reach of Lending Circles, a group lending-borrowing program that helps low-income neighbors build their credit and savings as they work to stabilize their financial outlook. LISC Financial Opportunity Centers in several cities are offering the program as part of integrated toolkit of financial and employment counseling services, with two new sites in Cincinnati announced this week.