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NEW YORK, Feb. 23, 2021 /PRNewswire/ The federal government awarded the Local Initiatives Support Corporation (LISC) $7.5 million from the Treasury Department s Capital Magnet Fund (CMF). LISC s award will help leverage $181 million in affordable housing and economic development in deeply distressed rural and urban communities located in 15 states.
LISC received the third largest of CMF s $175.35 million in grants, announced by the Community Development Financial Institutions Fund (CDFI Fund), which is part of the Treasury Department. The grants will help 27 CDFIs and 21 nonprofit housing organizations attract $5.3 billion in loans and investments for projects that help struggling populations. The CDFI Fund expects the latest CMF award to support 23,000 affordable housing units.
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