History
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LNDF's History
In 1990, James Rouse came to Lynchburg
and challenged the community to eliminate substandard housing by the year 2000. The response to this challenge was the formation
of the Lynchburg Area Housing Coalition (LAHC) that comprised more than 45 different
housing and service agencies, the City, and the United Way of Central Virginia. LAHC attracted the interest of the Enterprise
Foundation and, with their assistance, mounted a strategic planning process that
culminated in the creation of the Lynchburg Neighborhood Development Foundation.
The Lynchburg Neighborhood Development
Foundation (LNDF) was charged with bringing increased resources for housing into the
region, and assisting area non-profits increase their capacity to produce affordable
housing. After a rocky start, LNDF has
succeeded in these goals, administering multiple projects and funding streams and
increasing the level of activity in affordable housing.
LNDF has a firm basis in housing
finance, providing affordable mortgages and home repair assistance to low-income persons
in the region. In addition, LNDF has become a
developer of affordable housing, including single-family new construction and renovation
for sale and developing and owning affordable multi-family rental properties. LNDF is also part of the downtown development
program in the City of Lynchburg, working with area non-profits to improve conditions in
the downtown to create more and better economic development opportunities for the
residents of the surrounding low-income neighborhoods.
Most recently, LNDF set up a new entity, the Lynchburg Community Loan Fund (LCLF), as a Community Development Financial Institution, to serve low-income persons achieve their housing goals in the City of Lynchburg, through affordable mortgage and home improvement loans. This program has obtained start-up funds and an initial loan pool from which to initiate lending operations.