Peoria Public Radio News
6:56 am
Mon March 18, 2013

Peoria LISC aims for $11 million grant

Peoria’s Local Initiative Support Corporation, or LISC, is applying for a nearly $11 million grant. 

Peoria Public Radio’s Alex Rusciano reports:

LISC set up in Peoria last year. It works with non-profits, governments and community groups to rejuvenate struggling neighborhoods. To that end, the national non-profit organization applied for a multi-million-dollar grant from the Illinois Attorney General’s Office. Brandon Holmes is the executive director of Peoria’s LISC office.  He says the grant would help pay for re-development efforts in the East Bluff:

 “Targeted demolition, targeted acquisitions for physical revitalizations so rehabs that will be sold to the private market for homeowners, and as part of a lease-purchase program.  So it’s also creating a pipeline of homeowners, individuals who could potentially be there the next two or three years but can't quite qualify for a mortgage now, giving that person the opportunity again to a lease-purchase agreement, so they’re in their home,” Holmes says.

Holmes says LISC is also requesting some money for financial education, and emergency foreclosure assistance in the Tri-County area. He says he hopes to find out if LISC receives any grant money by next month.  LISC opened its official office earlier this month in the South Side Bank Building in downtown Peoria.