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LISC Applauds Nomination of Donovan as HUD Secretary


The choice of New York Housing Commissioner Shaun Donovan as Secretary of the Department of Housing and Urban Development is in the best interest of communities, families and the nation’s economy as we face unprecedented housing challenges and mounting financial pressures, according to the Local Initiatives Support Corporation (LISC). Read more.

LISC Receives $80 Million NMTC Award


The U.S. Treasury Department has awarded Local Initiatives Support Corporation (LISC) $80 million in New Markets Tax Credit (NMTC) investment authority in the 2008 round of allocations. That brings LISC’s total allocation since 2003 to $508 million.

The NMTC program represents the largest federal community development tax initiative in nearly 20 years and is designed to provide investors with credits against federal income tax in return for new investments made in eligible businesses and commercial projects in low-income areas, thereby stimulating the investment of private capital in distressed communities. Learn more about the program.

CRA Not to Blame for Economic Crisis


Michael Rubinger, LISC President & CEO, speaks out against critics of the Community Reinvestment Act and its impact the country's current economic status. Read more.

Foreclosure Rates Comparable Across Incomes


LISC analysis shows crisis not driven by low-income borrowers, but by subprime mortgage products. Subprime borrowers in more prosperous communities defaulted at nearly the same rate by March 2008 as those in impoverished areas. Read more.

Parkview Terrace: 2008 AHF Reader's Choice Award Winner


Parkview TerraceEach year AFFORDABLE HOUSING FINANCE searches for the best affordable housing projects in the nation in several categories. AHF readers have selected Parkview Terrace as a winner in the Senior Housing category.

Winners were presented with awards at AHF Live, The Tax Credit Developers’ Summit, on November 7th in Chicago. Read more about all the 2008 AHF Reader's Choice Award winners in the November issue of AFFORDABLE HOUSING FINANCE.

A collaboration between Chinatown CDC and AF Evans, the $18 million Parkview Terrace (above) is an 101-unit showcase project for very low-income seniors in the Cathedral Hill neighborhood of San Francisco.

Parkview Terrace was recently featured in the ARCHITECTURAL RECORD, a trade magazine featuring design ideas and trends, building science, and more. Read article.

The BUZZ: Did CRA Crash the Global Economy?


Buzz Roberts, LISC Senior Vice President for Policy and one of the country’s leading
voices on affordable housing policy and LIHTCs, analyzes legislative efforts to address
new housing credit realities in the most recent Journal of Tax Credit Housing.
Read The BUZZ.