Situated in the heart of REO Town, Great Lakes Capital Fund
is celebrating 20 years of local and national service and investments; $2.6 billion across the Midwest and $130.3 million in the Lansing Tri-County area.
"Twenty years of operation means twenty years of building vibrant, healthy, and sustainable communities," says GLCF advocacy specialist, Kelly Bernero.
GLCF is able to leverage private equity that otherwise would likely not be invested into local community development projects, through tax credits, mortgage and debt financing, grants, and other financing tools. Through $2.6 billion worth of investments, GLCF has supported 35,000 units of housing, 1 million square feet of commercial space, and in its 20 year history the Housing Credit has helped leverage 52,588 jobs.
Bernero says of GLCF and innovation: "As a full service community development finance institution, our organization is constantly seeking the most efficient, and flexible ways of doing things for people and communities."
In the Lansing Tri-County Area alone, GLCF has contributed $116.2 million to local incomes and $14.2 million in local government tax revenue. This amount of investment has leveraged 1,736 jobs in the Lansing Tri-County Area since 1993.
Source: Kelly Bernero, Great Lakes Capital Fund
Writer: Veronica Gracia-Wing, Innovation News.
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