Summer 2018 Newsletter

affordable housing

Preserving Affordability in the South Bronx with Banana Kelly

LISC NYC and the National Equity Fund recently celebrated the closing of Phase 1 of BK Union, a joint venture between Banana Kelly Community Improvement Association and the Joint Ownership Entity NYC (JOE NYC) to preserve five Bronx buildings comprising 124 units of affordable housing.

LISC NYC's role in the project was to provide financial modeling technical assistance to Banana Kelly, prepare a successful application for Low Income Housing Tax Credits from NYC Department of Housing Preservation and Development, and deliver project management support to bring the project to construction closing. National Equity Fund syndicated the tax credits in partnership with Sterling National Bank.

economic development

Expanding our Reach: The Inclusive Creative Economy

As part of an event at the Phillips auction house co-hosted by LISC NYC and Upstart Co-Lab in June, nonprofit real estate developers, impact investors, and supporters of the arts came together for a discussion about the city’s “inclusive creative economy” and the importance of affordable real estate for creative people, creative businesses, and workers. Speakers were Janet Rodriguez of SoHarlem, David Ehrenberg of the Brooklyn Navy Yard Development Corporation, Sam Marks of LISC NYC, and Laura Callanan of Upstart Co-Lab.

Health Equity

Beyond Hospital Walls: The Link between Health and Community

Sam Marks, executive director of LISC NYC, and Dr. Oxiris Barbot, first deputy commissioner at the New York City Department of Health and Mental Hygiene, discuss the emerging collaboration between community development and health sectors.

LISC NYC Community Partnerships and Health Equity convening


HUD 202 Senior Housing

LISC NYC and LiveOn NY hosted a workshop for HUD 202 senior housing staff on impending federal changes that will enable these projects to take on new sources of capital financing.

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LISC NYC in the News

In case you missed it, LISC NYC’s Commercial Corridor Challenge has gotten a recent flurry of attention in the press!

- New York Helps Give Some of Its Iconic Bodegas a Makeover (The Wall Street Journal)

- City Funding Bodega Facelifts (Fox5News)

- NYC bodegas in changing neighborhoods get a boost from the city (Curbed NY)

- Commercial Corridor Challenge' Boosts Small Businesses in East New York (Brooklyn Reader)

- Brooklyn Businesses Revitalized (NY1 News)

- Ayudan A Mejorar Fachadas De Las Bodegas (NY1 Noticias)

Special thanks go to Greg Schiefelbein of Citi Community Development for his tremendous support and partnership, Larisa Ortiz of Larisa Ortiz Associates for her invaluable technical expertise, Blaise Backer and Kethia Joseph of NYC Small Business Services for their ongoing collaboration and our three local partners Cypress Hills Local Development Corporation, Staten Island Chamber and WHEDco for their extraordinary work to help local merchants adapt to neighborhood change.

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lOCAL advisory committee

LISC NYC adds Economic Development Expertise to Local Advisory Committee

We are proud to welcome a new member to our LAC: David Ehrenberg, President & CEO of the Brooklyn Navy Yard Development Corporation. David brings a depth of expertise about equitable economic development from his prior work at the NYC Economic Development Corporation, and his current work expanding opportunities for manufacturing business at the Navy Yard. 

Thanks to our Funders

LISC NYC has recently launched new signature programs that are taking us in some bold, new directions. This is made possible with the generous support of some of our key funders. Special thanks go to:

- The Citi Foundation for our recent Community Progress Makers Fund award. This is a second round of philanthropic equity from Citi Foundation's Community Progress Makers Fund for our Impact Development work. 

- Deutsche Bank and New York Community Trust for joining ArtPlace America and Citi Foundation in supporting our work with Upstart Co-Lab to launch the NYC Inclusive Creative Economy Fund

- New York State Health Foundation for providing funding to LISC NYC to work with a broad range of community and health sector partners to plan a new community health partnership program.

LISC NYC Voices in the Field

Deputy Director Eva Alligood spoke about LISC NYC's Commerical Corridor Challenge at the Creative Placemaking Leadership Summit in New Jersey on May 4.

Executive Director Sam Marks spoke on a panel on Investing in the Creative Economy at the Mission Investors Exchange in Chicago on May 16.

 Director of Policy Edward Ubiera moderated a panel on 'Mission Driven Development and the Fight Against Speculation' at the ANHD 8th Annual Community Development Conference on May 18.

Director of Housing Arturo Suarez accepted the Transform Award on behalf of LISC NYC at Fifth Avenue Committee’s 40th Anniversary Build Rise Up Transform Awards on May 22.

Deputy Director Eva Alligood spoke about LISC NYC's Impact Development work at the Citi Foundation's 2018 Community Progress Makers Convening in Miami on May 22nd

 Executive Director Sam Marks discussed the role of creative places and businesses in community development in a webinar hosted by the Opportunity Finance Network on June 26.

Senior Community Development Officer Emily Blank spoke about LISC NYC’s Community Health Initiatives at the Aspen Ideas Festival in Aspen on June 30.