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Leviticus 25:23 Alternative Fund, Inc.

33 W. Main Street
Room 205
Elmsford, NY 10523
USA

Contact: David Raynor, Executive Director
Phone: 914.606.9003
Fax: 914.606.9006
URL: www.leviticusfund.org
Email: info@leviticusfund.org
 

Leviticus 25:23 Alternative Fund, Inc. is a nonprofit community development loan fund serving low-income individuals, families and communities in New York, New Jersey and Connecticut. It provides flexible capital and financial services for the development of affordable housing and community facilities. Since 1983, Leviticus has helped generate 1,084 units of housing and child care for 3,000 children. With a perfect repayment history, Leviticus combines a stable financial return with social concern for its investors.

Program

As a community development loan fund, Leviticus offers flexible capital to community-based non-profit organizations and small businesses providing housing and community-based services in New York, New Jersey and Connecticut. The Fund manages four loan programs: affordable and supportive housing, child care facilities, community-based facilities and resident ownership of manufactured home parks. Its key loan products include pre-development, construction and mini-permanent financing. Leviticus’ capital for community development is generated by both organizational and individual investors focused on promoting the dignity and stability of economically distressed communities. These communities typically lack access to traditional lending sources, which makes them vulnerable to speculative development attracted by lucrative land values. By providing flexible financing and technical assistance, Leviticus Fund helps communities maintain – and increase – quality, accessible housing for people at the lower-end of the economic ladder.

Client Population

Leviticus Fund partners with nonprofit organizations rooted in economically impoverished communities in New York, New Jersey and Connecticut. It focuses its financing on low-income individuals and families whose annual incomes fall below 80% of an area’s median income. Leviticus’ financial resources have supported projects that include affordable rental and homeownership units, emergency shelters, early childhood education centers, youth services, domestic violence support, employment training, mental disabilities or chemical dependency programs, immigrant advocacy and resident-ownership opportunities in manufactured home parks.



Impact

Since its founding, the Leviticus Fund has invested more than $28 million in loan capital to 128 borrowers, generating 1,763 units of housing, including transitional and emergency shelters, 36 child care centers serving 3,158 children and 34 community facilities offering social service programs, and 8 health care facilities. The communities that Leviticus serves tend to be older neighborhoods that are racially diverse, include expensive housing stock and reveal a growing divide between affluence and poverty. Leviticus gives nonprofit organizations access to flexible financing to ensure that communities of high need have access to affordable, quality housing and supportive services.



Story

Leviticus 25:23 Alternative Fund, Inc.
An estimated one out of every three homeless men in the U.S. is a veteran. Seventy-six percent struggle with mental health problems or addictions from drug or alcohol. One project in Yonkers, New York recently financed by the Leviticus Fund is poised to respond to both the need for quality housing and supportive services for homeless veterans. Westhab, Inc. is the largest non-profit provider of housing and supportive services for low-income households and the homeless in Westchester County. The agency recently completed 12 single-room units of housing for homeless veterans transitioning from the VA Hudson Valley Healthcare System in Montrose. Full Story

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