CDFI LISC urges investment in developer capacity and linkages between land and capital

Lauren McGowan, executive director of LISC (a national community development CDFI), told the committee that gaps in developer capacity and the timing of capital awards often stall projects. She described the LISC Housing Accelerator (an 18‑month program, funded in part by the Amazon Housing Fund) that pairs technical assistance with low‑cost capital to move projects from concept to shovel‑ready. "We need to make the connections between those land opportunities, the developers who have the ability to develop that land, and the financing," she said.

McGowan urged the legislature to fund intermediary tools that can bridge state awards and private capital — for example, contracts that let CDFIs quickly deploy bridge funding, more local funding flexibility, and investment in asset management and organizational capacity for mission‑aligned developers. She said these tools can help ensure that appropriated projects do not stall while developers assemble full capital stacks.

Why it matters: McGowan framed an operational problem that lies between policy decisions and construction outcomes: without capacity and flexible, timely capital, even funded projects can take years to complete.