With L.A.'s transit system expanding its footprint and growing its ridership, $100 million in development capital from a national philanthropic organization will help fund projects around stations in the city's underserved communities.
"The Local Initiatives Support Corporation (LISC), a national philanthropic organization that provides monetary support for the shoring up of distressed communities, has pledged $100 million in capital to lead an effort to develop 15 low-income neighborhoods in the City of Los Angeles," reports Elizabeth Fazzare.
"The monetary initiative by LISC will continue development beyond transit, expanding affordable housing, schools, businesses, and community facilities, and will complete market assessments of each neighborhood to strategize locale-specific investment."
FULL STORY: LOS ANGELES RECEIVES $100M FOR AFFORDABLE TRANSIT ORIENTED DEVELOPMENT
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