Valley is a proud partner and grant supporter of Local Initiatives Support Corporation NYC (LISC)

News | 8/9/2019

LISC LaunchNew York, NY – August 9, 2019 - Through LISC NYC’s leadership and generous philanthropic support from financial institutions like Valley Bank and other public sector partners like the NYC Department of Housing Preservation and Development and the Mayor’s Center for Faith and Community Partnerships, LISC is able to provide free technical assistance to six nonprofit organizations seeking to preserve their properties in Brooklyn, the Bronx and Manhattan, with over 1,000 HUD 202 homes for very low-income seniors.

LISC NYC’s NYLOP 2.0 will provide participating nonprofits with free technical assistance to successfully convert their affordable housing developments to a new legal structure through the Rental Assistance Demonstration (RAD) program that will make them eligible to apply for financing and Low Income Housing Tax Credits. LISC NYC will help groups to interpret HUD's new guidelines, prepare a capital needs assessment, create a financial plan with underwriting that meets HUD's guidelines, compile documentation, and comply with HUD's requirements, including environmental assessments and tenant notifications. 

Congratulations to the following groups who were selected to receive our assistance through NYLOP 2.0:

  • Belmont Arthur Local Development Corporation in the Bronx
  • Bethany HDFC in Manhattan
  • Casa Victoria HDFC in Manhattan 
  • Metropolitan Council on Jewish Poverty in Brooklyn and the Bronx
  • Wartburg HDFC in Brooklyn
  • West Harlem Group Assistance in Manhattan


Valley is grateful to all of the other funders of this program for critical seed funding and for their collaboration, support and shared mission of preserving and developing affordable housing for New York City’s most vulnerable residents.

About Valley
As the principal subsidiary of Valley National Bancorp, Valley National Bank is a regional bank with approximately $32.5 billion in assets. Valley is committed to giving people and businesses the power to succeed. Valley operates over 200 branches across New Jersey, New York, Florida and Alabama, and is committed to providing the most convenient service, the latest innovations and an experienced and knowledgeable team dedicated to meeting customer needs. Helping communities grow and prosper is the heart of Valley’s corporate citizenship philosophy. To learn more about Valley, go to www.valley.com or call our Customer Service Center at 800-522-4100.