Bank Rhode Island has awarded a $10,000 grant to Rhode Island Local Initiatives Support Corporation aimed at helping the organization in its neighborhood stabilization efforts, which include promoting affordable housing, improved child care and new commercial developments.
“Without LISC serving as the linchpin to get affordable housing projects financed by providing first stage capital, most of the local community development housing corporations would not be able to bring their projects to fruition,” said Jim DeRentis, executive vice president and chief business officer of BankRI.
Rhode Island's Market Has Changed. Developers, Builders, Investors and Sellers Must Change With It.
By Emilio DiSpirito IV License Partner | Engel & Völkers Oceanside Leader | The DiSpirito…
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“In a typical year, LISC raises approximately $2 million from sources within Rhode Island and makes investments in the state in excess of $20 million,” said Peter Walsh, senior vice president for retail lending and community relations at the bank.
DeRentis and Walsh have played key advisory roles to LISC by providing critical insight in shaping LISC’s 2007-2010 Strategic Plan. DeRentis was instrumental in helping LISC best utilize information garnered during a trip to Chicago to study community development practices. •
