The general application process for project financing
When submitting a request for project support to Twin Cities LISC, it’s helpful to understand the whole application process described below. Community Development Corporations (CDCs), nonprofit developers, nonprofit/for-profit development partnerships, and other nonprofit organizations engaged in real estate redevelopment projects are eligible to apply.
If you have further questions after reading this, contact LISC Program Staff.
- The organization or partnership contacts a LISC staff member about a project concept and funding request.
- A LISC staff member discusses the request with the organization or partnership. If the request appears to be a fit for LISC support, the applicant is asked to submit a request letter with supporting documentation.
- LISC staff members analyze the request from a variety of perspectives including developer capacity; strategic importance of project; credit analysis; risk assessment; involvement of other partners; and “value-added” nature of LISC’s role.
- A LISC staff member completes a Request for Program Action (RPA), which presents the analysis in a standard format. This format is used in all LISC sites across the country.
- These RPAs are then presented to the local Project Investment Committee for review and approval. The PIC is authorized to approve grant and recoverable grant actions up to $50,000 and loan actions up to $250,000. Actions with amounts greater than these thresholds require Local Advisory Committee approval.
- The RPA is submitted for processing through national LISC. Loan actions above $100,000 require national credit committee approval.
- Upon final approval, loan and grant agreements are generated by attorneys from the national LISC office.
- The required content for proposals for predevelopment, feasibility, and technical assistance grants and loans is outlined here.