2021
Annual Report
WELCOME
We co-led a new initiative that helps affordable housing developers center diversity, equity, and inclusion (DE&I) in the affordable housing construction process.
We introduced new programs, like the Black Business Excellence Technical Assistance Initiative and the Digital Accelerator Program, dedicated to supporting diverse-owned businesses.
We launched the Alternatives to Incarceration (ATI) programs in partnership with Los Angeles County, which aim to remove individuals from the justice system at the earliest possible point.
In 2021, the LISC LA team and I launched a bold initiative, The Black Economic Development Agenda (BEDA), to center our resources and programs on closing the racial wealth gap and empowering Black communities across Los Angeles County. We’ve been busy. Over the past year, we’ve galvanized resources and community partners to launch new programs that strengthen Black communities and will build a cohort of strong Black, next generation leaders with deep roots in their communities.
I’m proud to report that many of the BEDA programs have supported the local economies of historically Black neighborhoods in Los Angeles, by ensuring upward mobility is achievable through access to capital, affordable housing, and business and leadership development.
Achieving true racial equity is the ultimate goal at LISC – but we can’t get there alone.
These accomplishments were made possible through LISC LA’s partnerships with a number of community organizations and financial institutions that share our goal of creating truly impactful programs that will contribute to the overall economic development of these underserved communities. Thank you to our early sponsors of this work: Citibank, James Irvine Foundation, JP Morgan Chase, Wells Fargo, California Community Foundation and HSBC.
OVERVIEW
2021 TOTAL INVESTMENT INTO LA NEIGHBORHOODS
2021 LOANS
2021 GRANTS
With residents and partners, LISC forges resilient and inclusive communities of opportunity across America – great places to live, work, visit, do business and raise families. Since 1979, LISC has invested $24 billion to build or rehab 436,320 affordable homes and apartments and develop 77.4 million square feet of retail, community, and educational space.
LISC LA is one of 38 offices of the Local Initiatives Support Corporation (LISC), a national non-profit organization and community development financial institution (CDFI) supporting cities and rural areas throughout the country. By working with local leaders to invest in housing, health, education, public safety, and employment in communities that need it most, LISC LA works to provide the basic needs that must be tackled at once so that progress in one community is not undermined by neglect in another.
LISC LA 2021 Annual Report www.lisc.org/los-angeles