2015 ANNUAL REPORT HELPING NEIGHBORS BUILD COMMUNITIES

2015 ANNUAL REPORT HELPING NEIGHBORS BUILD COMMUNITIES LISC HELPS NEIGHBORS BUILD COMMUNITIES... Philadelphia Local Initiatives Support Corporation...
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2015 ANNUAL REPORT

HELPING NEIGHBORS BUILD COMMUNITIES

LISC HELPS NEIGHBORS BUILD COMMUNITIES... Philadelphia Local Initiatives Support Corporation (LISC) is a catalyst for community change, working with partners to strengthen neighborhoods and improve the lives of residents. 

THROUGH INVESTMENT AND COLLABORATION LISC deploys loans, equity, and program investments to help neighborhoods thrive. Since 1980, Philadelphia LISC has invested $400 million to build or preserve 8,128 affordable homes and apartments and develop 1.9 million square feet of retail, community, and educational space. LISC is an impact investor and Community Development Financial Institution (CDFI).

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2015 BY THE NUMBERS COLLABORATION

IMPACT

• 42 Community Partners • $1.64 million Grants & Capacity Building

• 290 Affordable homes built or preserved • 600 People provided financial counseling, workforce development, and public benefits • 220 People receiving employment services who found jobs

INVESTMENT • $11 million Loans • $66 million Leveraged • $119 million Total invested in last four years

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2015 PHILADELPHIA LISC

$2.5 million Bridge Financing & Technical Assistance: Taller Puertorriqueño’s new $11.5 million El Corazón Cultural Center is the region’s largest Latino cultural center, financed in part by New Markets Tax Credits. 

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$40,000 Program Investment & $8.4 million Low Income Housing Tax Credits equity provided by National Equity Fund: Impact Services’ $9.1 million Veterans Family Housing Center development provides 26 affordable apartments for veterans and their families.

3 $3.7 Million New Markets Tax Credits Leverage Loan & Historic Tax Credits Bridge Financing: Mosaic Development Partners’ $7.6 million Eastern Lofts is a historical re-use, mixed-use, mixed-income development with 37 apartments, including affordable units and a quality childcare center.

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Chany Sot is the proud owner of Angela’s Boutique and a beneficiary of Esperanza’s LISC-supported commercial corridor program on Wyoming Avenue in the Feltonville neighborhood of North Philadelphia. Photo courtesy of Esperanza.

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Phase I pictured

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$450,000 Predevelopment Financing for Mount Vernon Manor Phase II:  This $16 million development preserves 48 affordable apartments, financed in part by Low Income Housing Tax Credits. HELPING NEIGHBORS BUILD COMMUNITIES

A FAIR FUTURE FOR ALL...

IN WEST PHILADELPHIA

LISC and partners launched a Fair Future Strategy in West Philadelphia to ensure residents and businesses benefit from economic growth and revitalization.

LISC awarded ten grants to community partners to support home preservation, jobs, education, and neighborhood identity and culture.

365 RESIDENTS ENGAGED

In June 2015, residents from the Mill Creek, Belmont, Mantua, Saunders Park and West Powelton neighborhoods came out to School of the Future to implement the Fair Future Strategy. 2015 PHILADELPHIA LISC

Community Connectors helped inform and engage residents in creating the Fair Future Strategy.

Courtesy of University City District

Courtesy of People’s Emergency Center CDC

LISC launched an economic opportunity strategy in West Philadelphia to connect local residents with jobs and local companies with business opportunities. HELPING NEIGHBORS BUILD COMMUNITIES

POWERED BY ENGAGEMENT... LISC and APM Community Connectors are residents employed and trained to engage thousands of neighbors, reaching people wherever they are to create change in Eastern North Philadelphia.

IN EASTERN NORTH PHILADELPHIA LISC engaged diverse stakeholders to catalyze change in Eastern North Philadelphia, focusing on arts & culture, physical development, and health.

The Village of Arts and Humanities brought 35 artists and community development organizations together to effect community change. Asociación Puertorriqueños en Marcha (APM) transformed the area surrounding the 8th and Diamond Recreation Center from a crime hot spot into an active community space.

Photo by Peter Woodall

APM Community Connectors Lamont Jefferson and Carlos Santos hand out flyers at the Rainbow de Colores Park in Eastern North Philadelphia. Photo by Annie O’Neill. 2015 PHILADELPHIA LISC

Photo by Annie O’Neill.

400 families participated in the APM Food Buying Club, saving more than $80,000 on fresh, affordable produce.

The community organized around a $10 million stormwater and street improvement project, to connect neighborhoods historically divided by the American Street industrial corridor.

The Big Sandbox engaged 170 neighbors, parents, and students in reimagining the McKinley Elementary schoolyard as a green community space. HELPING NEIGHBORS BUILD COMMUNITIES

BUILDING PARTNERSHIPS TO PRESERVE HOUSING...

AND KEEP FAMILIES SAFE & HEALTHY IN THEIR HOMES

LISC launched the Home Preservation Initiative (HPI), a collaborative effort to repair, weatherize, and preserve affordable housing in the neighborhood.

LISC helped more than 50 homeowners with health, safety, and weatherization repairs in 2015.

STEP 1: ENGAGEMENT

Mount Vernon Manor CDC and People’s Emergency Center CDC identify lower-income homeowners with home repair needs.

STEP 2: COLLABORATION

To provide necessary repairs, Rebuilding Together Philadelphia and Habitat for Humanity mobilize volunteers and leverage LISC, City, and corporate support.

LISC FORGES NEW PARTNERSHIPS FOR HEALTH

Robert Wood Johnson Foundation provided a coach to strengthen collaboration around healthy home repairs, while Drexel University’s Dornsife School of Public Health evaluated the impacts of home repairs on quality of life.

Rebuilding Together volunteers provided repairs for 20 families on the 3800 block of Melon Street in West Philadelphia. All photos courtesy of Rebuilding Together and Habitat For Humanity. 2015 PHILADELPHIA LISC

STEP 3: IMPACT

Homes are safer, healthier, and more energy efficient. Family assets are protected and affordable housing in the neighborhood is preserved. HELPING NEIGHBORS BUILD COMMUNITIES

BUILDING THRIVING CORRIDORS ACROSS PHILADELPHIA

STRENGTHENING COMMUNITIES WITH ARTS & CULTURE

LISC creates lively and welcoming commercial corridors with community partners and City agencies.

LISC brings artists and community organizations together to activate spaces, revitalize places, and preserve neighborhood identity and culture.

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OUR AWARD-WINNING PARTNERS

25 community

spaces transformed and more than 3,000 people engaged in two neighborhoods

BUSINESSES ATTRACTED OR EXPANDED ON...

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NEIGHBORHOOD CORRIDORS

Courtesy of New Kensington CDC

Courtesy of Mt. Airy USA

Photo by Steve Weinik, Courtesy of the City of Philadelphia Mural Arts Program

NEIGHBORHOOD TIME EXCHANGE:

Artists and residents co-created community-led projects to celebrate local culture and revitalize West Philadelphia.

Courtesy of Tiny WPA

Philadelphia was selected as one of five LISC cities to launch a creative placemaking initiative.

Dozens of partnerships formed between artists and community organizations

- People’s Emergency Center CDC

Photo by Annie O’Neill

LISC trained residents and police to enhance safety on commercial corridors through community engagement, collaboration, and design with support from the Philadelphia Commerce Department. 2014 PHILADELPHIA LISC 2015

SPACES ARTISTS-IN-RESIDENCY:

Both visiting and local artists worked together to address community problems through creative solutions that revitalized Eastern North Philadelphia and promoted social justice and equity. - The Village of Arts and Humanities Photo by Albert Yee, Courtesy of the City of Philadelphia Mural Arts Program HELPING NEIGHBORS BUILD COMMUNITIES

LISC STAFF 2015

Andrew Frishkoff, Executive Director Dana Hanchin, Deputy Director Brian K. Oglesby, Senior Program Officer for Economic Opportunity James Crowder, Program Officer Melissa Kim, Program Officer Nicholas Mulligan, Senior Administrative Assistant Jessica Collazo, Program Assistant David Ferris, Program Assistant Lindsey Samsi, Project Assistant George Pitsakis, Project Assistant Grace Chung, Sustainable Communities Intern Alyssa Renee-Brown, Sustainable Communities Intern

LISC ADVISORY BOARD

Stephanie Wall, Wells Fargo (Chair) Lucy Kerman, Ph.D., Drexel University (Vice Chair) Craig M. Williams, Santander Bank (Secretary) Kevin Bethel, Deputy Commissioner, Philadelphia Police Department Glenn Bryan, University of Pennsylvania Thomas F. Burns, Urban Ventures Group Paige Carlson-Heim, TD Bank Beverly Coleman, Temple University Kevin Dow, United Way Eva Gladstein, Mayor’s Office of Community Empowerment and Opportunity, City of Philadelphia David Gould, William Penn Foundation James E. Hartling, Urban Partners Don Haskin, Citi Bank Michael Johns, Philadelphia Housing Authority Frances M. Jones, Southeastern Pennsylvania Transit Authority Randy Kunkle, Bank of America Kafi Lindsay, PNC Bank Belinda Mayo, Office of Housing and Community Development, City of Philadelphia Mark Schwartz, Esq., Regional Housing Legal Services William A. Smith, RBS Citizens Bank

PRIVATE SECTOR PARTNERS

Bank of America Citizens Bank Drexel University Fresh Grocer Housing Alliance of Pennsylvania Kresge Foundation MetLife Foundation National Equity Fund NFL Foundation Panaphil Foundation Pew Charitable Trusts PNC Bank Robert Wood Johnson Foundation Santander Bank Foundation State Farm Surdna Foundation TD Bank North Charitable Foundation United Way of Greater Philadelphia Uphill Foundation Walmart Foundation Wells Fargo Bank William Penn Foundation

PUBLIC SECTOR PARTNERS

City of Philadelphia Office of Housing and Community Development City of Philadelphia Commerce Department Corporation for National and Community Service Mayor’s Fund for Philadelphia Pennsylvania Department of Community and Economic Development U.S. Department of Housing and Urban Development U.S. Department of the Treasury’s CDFI Fund

INDIVIDUAL DONORS Barbara Beck Fredrick Esch Andrew Frishkoff Jim Hartling Carrie Rathmann

LISC is a catalyst for community change, working with partners to strengthen neighborhoods and improve the lives of residents. As a Community Development Financial Institution (CDFI) and impact investor since 1980, Philadelphia LISC has invested $400 million to build or preserve 8,128 affordable homes and apartments and develop 1.9 million square feet of retail, community, and educational space.

Like us on Facebook.com/PhiladelphiaLISC

Follow us on Twitter @LISC_Philly

Cover photo credits, clockwise from top left: Alexa Kutler, Annie O’Neill, Annie O’Neill, Alexa Kutler

PHILADELPHIA LISC

718 Arch Street • Philadelphia, PA 19106 Phone • (215) 923-3801 Web • programs.lisc.org/philly

NATIONAL LISC

501 7th Ave, New York, NY, 10018 Phone • (212) 455-9800 Web • lisc.org