Predevelopment Recoverable Grants

These grants typically range from $20,000 to $50,000

Before a project’s permanent or construction financing closes, nonprofit developers usually need to spend money to position the project for successful financing. Those expenses may include the completion of architectural designs, legal work, survey and engineering studies, and environmental testing.

LISC makes recoverable grants 0% interest, non-recourse obligations—to CDCs to cover these expenses after a CDC has obtained control of a development site. The LISC recoverable grant is repaid from construction or permanent financing proceeds. After speaking with a TC LISC program officer, applicants should follow the LISC application process.