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.

  1.  The organization or partnership contacts a LISC staff member about a project concept and funding request.
  2. 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.
  3. 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.
  4. 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.
  5. 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.
  6.  The RPA is submitted for processing through national LISC. Loan actions above $100,000 require national credit committee approval.
  7.  Upon final approval, loan and grant agreements are generated by attorneys from the national LISC office.
  8. The required content for proposals for predevelopment, feasibility, and technical assistance grants and loans is outlined here.