NEW YORK, March 19, 2012 /PRNewswire-USNewswire/ -- The Local Initiatives Support Corporation (LISC) has named a top federal policy expert on economic and community development as its senior vice president for policy.
Matt Josephs brings more than 20 years of government experience to his new role at LISC. He spent the last 13 years with the Treasury Department's Community Development Financial Institutions Fund (CDFI Fund), most recently as senior policy advisor and prior to that as the program manager for the New Markets Tax Credit program.
The CDFI Fund helps promote access to capital and local economic growth in low-income communities with a particular focus on economic development, affordable housing and community development financial services. The CDFI Fund's New Markets Tax Credit program attracts private capital to support business and real estate development in disinvested neighborhoods, and in the process creates jobs and helps revitalize commercial corridors. To date, over $26 billion has been invested in low-income communities through this program.
"Matt not only understands the myriad issues that are central to communities, he has helped craft many of the policies and programs that address them," said Michael Rubinger, LISC president and CEO. "He has worked to raise standards of living in disadvantaged neighborhoods for his entire career. We are thrilled to have his clear commitment and experienced voice helping LISC speak to what communities need for the future."
Prior to his work at the CDFI Fund, Josephs staffed the Senate Banking Committee—focusing his attention on housing and community development issues—and earlier worked as a policy analyst in the Department of Housing and Urban Development (HUD).
"LISC and its Building Sustainable Communities work will provide me with the opportunity to help address the challenges facing our communities in a whole new way," said Josephs. "I am very proud of the work being done at the CDFI Fund, but I am also eager to approach these problems from a different perspective—an on-the-ground perspective that will be informed by the work of local LISC offices operating in urban and rural communities throughout the country."
Josephs is based in LISC's Washington, D.C. office. He can be reached at [email protected].
LISC combines corporate, government and philanthropic resources to help nonprofit community development corporations revitalize distressed neighborhoods. Since 1980, LISC has raised $12 billion to build or rehab 289,000 affordable homes and develop 46 million square feet of retail, community and educational space nationwide. LISC support has leveraged nearly $40 billion in total development activity. For more information, visit www.lisc.org.
Colleen Mulcahy, 312-342-8244
SOURCE Local Initiatives Support Corporation