ConneCting Communities to Capital - Home | South Carolina ...
Connecting Communities to Capital
2012-2013 Annual Report
investing in community
Housing Matters: Tri-County Housing Summit, May 17, 2013
Mayor Joseph P. Riley, Jr. City of Charleston
"Housing is where jobs go to spend the night." ? Mary Graham, Charleston Metro Chamber of Commerce
Dear Friends,
Connecting Communities to Capital is LHT's theme for our 2012-2013 annual report. The topic reflects our growing emphasis on funding the many variables that go into building successful communities. While we continue our core mission of financing affordable and workforce housing, we recognize that housing must work in conjunction with other community assets. Therefore, we have expanded our mission to include lending for access to healthy foods, community facilities, and community businesses.
Connecting Communities to Capital reflects our geographic expansion to include all communities in South Carolina. When we made our first loan in 2005, our focus was on the Charleston tri-county region; over the past two years, we expanded to include Georgetown County, the City of Beaufort, and the Town of Port Royal. Recognizing the need to create opportunity across South Carolina, we now provide funding and services statewide with an emphasis on the 10 coastal counties.
Connecting Communities to Capital reflects our relationships with investors and donors. We appreciate the opportunity to put your investment to work and to leverage your commitment by creating new funding opportunities. Over the past 12 months, we have leveraged our capital 10:1.
With your support, we will continue to build vibrant and smarter communities by bringing capital investment where it is needed most, by building capacity where it is lacking, and by helping to focus dialogue statewide to explore ways to address pressing community issues.
Connecting Communities to Capital - bringing together partners, resources, and solutions to meet the capital needs of South Carolina communities.
Connecting Communities to Capital reflects our collaborative efforts with local, state, regional, and national partners to address the growing resource needs facing underserved communities across the state. Collectively, we provide experience, knowledge, and capital to better serve our target and focus areas. This past year alone, these partnerships helped to provide educational opportunities on healthy food retail and affordable housing to community and state leaders.
Karen Abrams Board Chair
Michelle Mapp Executive Director
Connecting Communities to Capital: 2012-2013 Annual Report
1
Affordable Housing
Healthy Food
Community Facility
Community Business
YEAR IN REVIEW
CAPITALIZATION
$1,300,000 in investments and program grants $703,806 Financial Assistance Award from the US Treasury CDFI Fund $590,531 in operating grants $226,669.81 in earned revenue
Why We Invest: SCBT
"SCBT is committed to improving the lives of Lowcountry residents. Our investment will help LHT continue to provide affordable housing options and create positive social and economic change for our local communities."
? Thomas Anderson,Vice President., SCBT
LENDING
$3,681,942 in development loans $35,000 in affordable housing subsidies $46,949 in down payment and closing cost loans
ADVOCACY
Sponsored statewide workshop Growing Food & Opportunities in South Carolina Hosted inaugural Housing Matters: A Tri-County Housing Summit Leadership of SC Food Access Taskforce and SC Community Development Finance Alliance
EXPANSION
Expanded scope of services to include healthy food retail, community facility and community business lending Expanded staff by hiring a program manager for the healthy food and community facility loan programs Finalist for the 2013 Wells Fargo NEXT Seed Capital Award
2
IMPACT
$41.7
$3.6 Million
in financing
Million
14
loans
in development
296
housing units
335
jobs created
740
families served
1
community facility
Connecting Communities to Capital: 2012-2013 Annual Report
1
business
Why I Invest: Robert Johnston
"As an investor, I seek opportunities that not only provide a financial return, but allow me to support an organization I believe in. By investing with LHT, I am able to make a difference in my local community."
? Robert Johnston,The InterTech Group
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