Positioning community developers as key players
We provide nonprofit developers with small grants—typically $2,500 to $7,500—to assess the feasibility of promising real estate development projects. For example, grant funds may be used to conduct a market study, complete preliminary architectural designs, or hire consulting assistance. After speaking with a TC LISC program officer, applicants should follow the LISC application process.
These grants typically range from $20,000 to $50,000.
Before a project’s permanent or construction financing closes, nonprofit developers usually need to spend money to position the project for successful financing. Those expenses may include the completion of architectural designs, legal work, survey and engineering studies, and environmental testing.
LISC makes recoverable grants--0% interest, non-recourse obligations—to community developers to cover these expenses after they've obtained control of a development site. The LISC recoverable grant is repaid from construction or permanent financing proceeds. After speaking with a TC LISC program officer, applicants should follow the LISC application process.