WELCOME TO LIIF EAST COAST!
VISION
LIIF's New York office is dedicated to creating pathways of opportunity for low income families in New York City to attain economic self-sufficiency.
WHAT WE DO
LIIF's New York office provides loans, grants and technical assistance for child care, education, affordable housing and other vital community revitalization efforts in New York and other surrounding high-need neighborhoods. Below we highlight the percentage of our activity in each area:
- 9% in New Jersey
- 9% in Washington, DC
- 2% in Connecticut
- 80% in New York
Lending products include (percentages of activity per loan):
- 19% Pre-development Loans
- 7% Acquisition Loans
- 26% Construction
- 48% Permanent Loans (LIIF has 30-year capital)
For more information on our lending products and services, please go to Products and Services.
New York's Key Programs are:
- New York Child Care Seed Fund
- New York Metro Brownfields Initiative: NYC and Long Island
- Originator for the New York Acquisition Fund
- Partner in HPD's Participation Loan Program and Neighborhood Homes Program
ANNOUNCEMENTS
New York Child Care Seed Fund's Milestone Achievement!
The New York Child Care Seed Fund (Seed Fund) is making significant strides toward its goal of creating public/private partnerships to support child care facilities development. The program reached a milestone with its first direct City contract at the level of $200,000 to provide short-term facilities financing consulting services to the key City children’s agency, the Administration for Children's Services (ACS). Achieving this milestone required extensive interaction with the offices of the City Council Speaker, the Deputy Mayor for Health and Human Services, the Commission for Economic Opportunity and the leadership of ACS. For more information, please go to the New York Child Care Seed Fund page.
IMPACT
In FY07 (July 1, 2006 – June 30, 2007) LIIF’s New York office provided 17 loans for affordable housing, quality child care and schools totaling approximately $27.7 million. This activity has benefited more than 2,000 low income individuals in New York and supported:
- 327 units of affordable and supportive housing;
- 150 child care spaces; and
- 190 classroom desks.
EXCITING NEW LOAN DEALS
Euphemia L. Haynes Public Charter School in Washington, DC.
LIIF's New York office provided a $2.8 million loan to Euphemia L. Haynes
Public Charter School in Washington, DC for acquisition and construction. The
loan helped E.L. Haynes to purchase a new property on 3600 Georgia Avenue,
Northwest, in the heart of the Petworth Metro and Park View neighborhoods. The
vision for the new facility, which is under construction, is to create a vibrant
learning space for 468 students in grades Pre-K to 8. E.L. Haynes is the first
public school in DC to operate on a year-round schedule. E.L. Haynes’ mission is
to ensure that every Haynes student will attain high levels of academic
achievement and succeed at the college of his or her choice; to eliminate the
achievement gaps related to race, gender, home language and socioeconomics
of diverse student body; to serve as a model school by demonstrating that
all students can succeed academically; and to impact the academic achievement of
DC public school students through training school professionals.
Affordable Housing in Harlem, NYC.
LIIF's
New York Office provided a $535,000
permanent loan
to the New York
Housing Development Fund Corporation.
The loan will help the 513-517
West 135
Street co-op in West Harlem to restructure their debt and achieve
financial stability. The HDFC
co-op consists of three fully occupied buildings with sixty-one
units. This co-op provides affordable homeownership and rental
opportunities for low income tenants, which is particularly important
in this Harlem community as gentrification pressures in surrounding
neighborhoods threaten to reduce the amount of affordable rental and
homeownership housing available to long time residents. The savings
achieved for the families over 25 years will be approximately $12.8
million.





