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NEW YORK

Investment Opportunities

The Local Initiatives Support Corporation (LISC)

Land Acquisition Fund

With a greatly diminished inventory of city-owned property, CDCs must compete in the private market to obtain land for development. Moreover, the Mayor's new housing program requires developers to own the site before accessing public resources. This fund will be used as patient capital to enable CDCs to compete for land.

Brownfields Development Fund

Some CDCs are exploring brownfield redevelopment. There are more than 6,000 brownfield sites in NYC, critical land in a built-out city. In addition, the Mayor's housing plan calls for rezoning and code amendments that may open brownfields for redevelopment opportunities. Money is sought to assess which brownfields have development potential and which do not.

Capitalize a new CDC Operating Support Program

N2000 is ending this year, so a new program is needed to support CDCs as they broaden their development activities beyond housing.

The Enterprise Foundation

Market studies of four strategic neighborhoods to identify new development opportunities

New York Enterprise plans to work with four CDCs to conduct studies that would result in development plans for further residential development on privately owned land, given the reduced availability of City-owned land.

Capitalize a new CDC Operating Support Program

See LISC description, above.

Office technology upgrades

Enterprise seeks funds to assist CDCs in upgrading their office systems, following Living Cities' technology circuit-riding program.

To invest in New York, contact:

Local Initiatives Support Corporation Denise Scott, Managing Director Local Initiatives Support Corporation 501 Seventh Ave, 7 th Floor New York, NY 10018 Phone 212.455.9800 Fax 212.687.1396	The Enterprise Foundation Rafael Cestero, Director The Enterprise Foundation 80 Fifth Avenue, 7 th Floor New York, New York 10011 Phone 212.262.9575 Fax 212.262.9635
DScott@lisc.org	EFnewyorkcity@enterprisefoundation.org
NYC Lisc Website	NYC Enterprise Website