News Archives
2013
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More Awardees in Round 10 for Reauthorized NMTC Program
In April 2013, 85 community development entities (CDEs) were selected to receive $3.5 billion in tax credits under the tenth round of the New Markets Tax Credit (NMTC) program from the U.S. Department of the Treasury. Selected from 282 applicants that requested more than $21.9 billion, LIIF was awarded $55 million in NMTC allocation authority, bringing its total NMTC allocation to $265 million…
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The New Era of Public Innovation: Part II
In a recent op-ed published in the Huffington Post, Ben Thornley, Director of Pacific Community Ventures, outlined the links between ideas that emerged from the Schwab Foundation’s Social Innovation Summit and LIIF’s recently released publication, Investing in What Works for America’s Communities. Noting the need for evidence-based innovation, Mr. Thornley suggests the international development community […]…
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Fresh Food Hub Begins Construction on Broad Street
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Groundbreaking for Healthy Food Hub in New Orleans
Construction started today on the ReFresh project, a healthy food hub that will bring retail, education, jobs and health programs to the Mid-City neighborhood of New Orleans. The Low Income Investment Fund (LIIF) joined New Orleans Mayor Mitch Landrieu and representatives from L+M Development Partners, Broad Community Connections and a host of community partners for a groundbreaking ceremony for ReFresh…
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Tax Credits Spur Investment in Distressed Communities
Last month, the U.S. Department of the Treasury’s Community Development Financial Institutions (CDFI) Fund announced the New Markets Tax Credit (NMTC) authority for investments totaling $3.5 billion to community development organizations nationwide. In a recent news column for HispanicBusiness.com, LIIF was featured as one of 85 organizations that received awards in the 2012 round …
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Modern-day Robin Hood applies business skills to philanthropy
In a new segment on 60 Minutes, Paul Tudor Jones, founder of the Robin Hood Foundation, shares his unique journey of establishing his charity and its focus on early education as one of its primary missions. The segment features a number of LIIF borrowers, including Part of the Solution and Uncommon Schools…
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LIIF Awarded $55 Million New Markets Tax Credit Allocation
Today, the U.S. Treasury Department’s Community Development Financial Institutions (CDFI) Fund announced that the Low Income Investment Fund (LIIF) has been awarded $55 million in New Markets Tax Credit (NMTC) allocation. Nationally, the CDFI Fund awarded $3.5 billion in NMTC allocations to 85 organizations. This is LIIF’s sixth consecutive award and brings LIIF’s total NMTC […]…
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85 CDEs Receive NMTC Awards
LIIF was selected as one of 85 organizations nationwide to receive an allocation of New Markets Tax Credit (NMTC) from the U.S. Treasury’s Community Development Financial Institutions Fund. Selected from a pool of 282 applicants, LIIF received an allocation of $55 million, its sixth allocation award. LIIF was featured…
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California Housing Fund Closes First Loan for Affordable Senior Housing
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New Fund’s First Loan Preserves 90 Homes for California Seniors
The Low Income Investment Fund (LIIF) is pleased to announce that the Golden State Acquisition Fund (GSAF) has successfully financed its first project with a loan to Preservation Partners Development (PPD) and Clifford Beers Housing to preserve 90 units of affordable senior housing…
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