CASE STUDY
Low-income Community (LIC) Engagement Report
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CDE Aligns Investment with the needs of the Low-income Community (LIC)
Industry:
- Investor
Service:
- Impact Reporting
New Markets Tax Credits are designed to bring economic activity to high-poverty and high unemployment regions. With the ultimate goal of uplifting people out of poverty through quality jobs and economic growth, investors are careful to select projects in highly distressed regions. Research has demonstrated over and over again that quality jobs alone are not enough to ensure someone has the opportunity to build wealth for their family.
Through our lens of Impact Development, LifeCity specializes in helping investors maximize their impact through strong community partnerships. Low-income Community Engagement Reports help identify community partnerships that the QALICB can leverage alongside their investment to support the Low-income Community.
For example, in advance of its NMTC investment into Sustainable Biogas Energy Company (SBEC), AMCREF sought to identify opportunities for SBEC to more holistically support the local low-income community through partnerships with community organizations. LifeCity helped identify workforce partners who could help train and recruit employees for SBEC, along with a local organization that could help organize transportation for potential employees with barriers to transportation. This simple report provides an easy pathway for QALICBs to improve retention, invest in their employees, and maximize the impact of their New Markets Tax Credit investment.
32 jobs
LifeCity validated the projected 25 full-time and 7 part-time job opportunities provided in a historically disinvested community.
validated
“LifeCity’s Low-Income Community Engagement Reports have illuminated numerous opportunities for our borrowers to further support their communities through partnerships with local institutions. These reports really help us achieve the mission of impact investing by facilitating a holistic approach to community development.”
- Susan Seagren, President
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