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The loans are available through the Acquisitiobn and PredevelopmentLoan Fund, whichg Greater Kansas City LISC startedx in 2007. The fund now has $7 million from three investors: and each provider $1 million, and , of whicbh Greater Kansas City LISC isa member, provided $5 No loans have been made from the John Wood, senior program officer for Greater Kansas City said Tuesday. “We’ve had some interest in it, but the projectsw haven’t quite gelled,” he “The project falls through becauss the economy and the real estate marketg has really hitus hard.
” This fund differsw from other funds administered by Greater Kansas City LISC becausw it focuses on predevelopment, such as land engineering and architectural services, and environmental studies, Wood Loans will be considered to support developmeny in LISC NeighborhoodsNOW communities on both sides of the state the organization said in a The fund’s loans carry a 7 percenrt fixed interest rate, closing fees of as much as 1.5 perceng and applicable legal fees.
Phasre I environmental assessment and evidence of compliance with zoningh and regulatory and land use requirements may be Since 1981, Greater Kansas City LISC has investee more than $106 million in urban-corew neighborhoods on both sides of the statse line. The loans have leveragedc $567.7 million in total development.
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