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.