LIIF Reaches Semifinal for the Wachovia Next Awards for Opportunity Finance

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The Low Income Investment Fund (LIIF) was selected from 24 other community development financial institutions (CDFIs) across the nation as a semifinalist for the prestigious $5.5 million 2008 Wachovia NEXT Award for Opportunity Finance. The Award recognizes excellence amongst CDFIs that have a history of outstanding accomplishment, a bold and compelling vision, and extraordinary future potential for growth, innovation and impact. LIIF’s President and CEO, Nancy O. Andrews, states, “We are delighted to be recognized as a semifinalist for the Wachovia NEXT Awards for Opportunity Finance. This validates our 24 years of work in the community to bring capital solutions to people and neighborhoods that might not otherwise benefit from it.  We are pleased to be actively considered for an Award that could really transform LIIF and take it to the next level.”

The aim of the Wachovia NEXT Awards for Opportunity Finance is to propel high-potential CDFIs such as LIIF to a next level of growth, success, and staying power. By bridging market gaps and helping mainstream financial institutions and the public sector connect to low income people and communities, LIIF and other CDFIs are continuously creating opportunities to transform underserved markets and to build a more secure and prosperous future for us all.

The Wachovia NEXT Awards for Opportunity Finance are presented by the Opportunity Finance Network with generous grant support from the Wachovia Foundation and a major program-related investment from the John D. and Catherine T. MacArthur Foundation.

ABOUT THE LOW INCOME INVESTMENT FUND (LIIF)

Since 1984, the Low Income Investment Fund (LIIF) has served over 600,000 people by providing approximately $700 million in financing and technical assistance to hundreds of community organizations serving the nation’s poorest and hardest-to-reach populations. LIIF’s primary program areas are affordable and supportive housing, child care and education facilities benefiting low income people and families.  Over its history, LIIF has provided the financing and technical assistance to create and preserve: 53,000 units of affordable housing; 100,000 child care spaces; 41,000 spaces in schools; and nearly 2.5 million square feet of community facilities and commercial space.  Currently, LIIF operates in four regions of the United States: northern California, southern California, the New York City metropolitan area, with offices in four cities: San Francisco, Los Angeles, New York City and Washington, DC. For more about LIIF and its key initiatives, please go to our website at www.liifund.org or contact Abbie McBride.