<body><div><img src="https://img.particlenews.com/image.php?type=thumbnail_580x000&amp;url=2xIBaw_0wI2Yy6c00" alt="https://img.particlenews.com/image.php?url=2xIBaw_0wI2Yy6c00" width="1280" height="853" >Local Initiatives Support Corporation (LISC) provides flexible predevelopment funding to developers involved in affordable housing. Here’s a breakdown: Terms<ul><li>LISC predevelopment loans typically cover early-stage expenses for affordable housing projects, e.g., site acquisition, environmental testing and architectural fees; </li><li>Loan amounts can vary but are typically between $50,000 and $500,000; and </li><li>Interest rates and loan terms depend on the project and the developer’s capacity, but they are typically below-market rates with flexible repayment schedules </li></ul>Application Process<ul><li>Developers must submit an application to LISC, which includes a detailed project proposal, financial information and proof of developer capacity; and </li><li>LISC typically works closely with developers throughout the application process, offering guidance and technical assistance. </li></ul>Deadlines<ul><li>Applications are generally accepted on a rolling basis, but it’s recommended to check with the local LISC office as timelines may vary based on funding availability. </li></ul>Eligible Developers<ul><li>Nonprofit and for-profit developers engaged in affordable housing projects are eligible; and </li><li>Developers must demonstrate a track record of successful project execution and financial capacity. </li></ul>Eligible Projects<ul><li>Projects must be focused on affordable housing development, either for rental or ownership; </li><li>Predevelopment funding can support multifamily rental housing, single-family homes and supportive housing; and </li><li>Projects typically must align with LISC’s mission of serving low- and moderate-income communities. </li></ul>As the application process and terms vary slightly by location, find and contact your local LISC office here. </div></body>

Mountain View, CA

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LISC Predevelopment Financing

Local Initiatives Support Corporation (LISC) provides flexible predevelopment funding to developers involved in affordable housing. Here’s a breakdown:. LISC predevelopment loans typically cover early-stage expenses for affordable housing projects, e.g., site acquisition, environmental testing and architectural fees;. Loan amounts can vary but are typically between $50,000 and $500,000; and.