LOUISVILLE, Ky., Aug. 24, 2021 /PRNewswire/ -- The Local Initiatives Support Corporation (LISC), the nation's largest community development organization, announced today that it is launching a new full-service program office in Louisville to fuel inclusive growth and opportunity throughout the city, with a particular focus on communities scarred by long histories of racial discrimination.
To lead the effort, LISC has tapped Scott G. Love as the inaugural executive director of LISC Louisville, the national nonprofit's 38th local program office. Love has more than 25 years of experience investing in Louisville communities, most recently as vice president/community development manager at Truist Bank, where he spearheaded support for small business growth, workforce development, affordable housing, economic mobility, and educational equity in Kentucky and Ohio.
Earlier, he spent 12 years at Louisville Forward, the city's economic development agency, helping drive a range of development programs, especially in communities often overlooked for investment. And he worked for 11 years prior to that as a vice president at BB&T Bank (since renamed Truist), managing a significant commercial lending portfolio.
"Scott has the expertise and deep local ties to drive ambitious community investment efforts in Louisville—collaborating with neighborhood-based organizations, city officials, business leaders and residents on what works best to catalyze opportunity," said Lisa Glover, LISC president and CEO. "The goal is to help build a broadly shared prosperity, one that gives everyone the chance to succeed, regardless of race, class, age or zip code, because inclusive growth makes the entire region stronger," she added.
LISC is bringing national resources to the city in the form of grants, low-interest loans and equity investments. For example, LISC invested $3 million in the Louisville Urban League's Sports & Learning Complex, which opened earlier this year, drawing on capital connected to its federal allocation of New Markets Tax Credits to support the project. It is part of the more than $16 million that LISC has already invested in the Louisville market to support affordable housing, small businesses and community facilities.
"I can't think of a more important time to invest in our people and our communities," said Love, a Milwaukee native who has lived in Louisville since 1997. "Whether we are talking about good housing or strong businesses or health care or day care or family income growth, LISC can help connect the dots to create opportunities for residents and expand our economy—especially in underserved communities."
LISC's entrée to Louisville comes after more than two years of planning and discussion with the City of Louisville, local community groups, philanthropy and the corporate community about the strengths and needs within the market. Since then, LISC has established a local advisory committee comprised of top business, philanthropic, and community leaders to help guide its Louisville's efforts. Charlon McIntosh, senior vice president of business operations and service at Humana, chairs the committee.
Thanks to these partnerships and support from funders, LISC has already begun to develop programs to address local needs around small businesses, economic development, nonprofit capacity-building and affordable housing.
"The support of city leaders, corporations and local funders will be fundamental to our local efforts to take on challenges related to economic opportunity and systemic racism, especially as we begin to emerge from the pandemic," Love said. "We can help close gaps in health, wealth and opportunity by connecting flexible capital to innovative partners and programs. That's what LISC is doing all across the country."
In addition to his professional work, Love also contributes his time to a range of local organizations. He has served in various capacities on the boards of the Louisville Asset Building Coalition, Wesley House Community Services, New Legacy Reentry Corporation, Habitat for Humanity, and the Community Action Partnership, among others.
Love can be reached starting August 25th at [email protected].
With residents and partners, LISC forges resilient and inclusive communities of opportunity across America – great places to live, work, visit, do business and raise families. Since 1979, LISC has invested $24 billion to build or rehab more than 436,320 affordable homes and apartments and develop 74.4 million square feet of retail, community and educational space. For more, visit www.lisc.org and www.lisc.org/louisville.
SOURCE Local Initiatives Support Corporation (LISC)