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LISC Virginia outlines years of investments and local programs in Petersburg

3647056 · June 3, 2025

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Summary

Jane Ferrara, executive director of LISC Virginia, presented the nonprofit's programs in Petersburg — including financial opportunity centers, homeownership assistance, 0% business loans and heirs-property work — and said LISC will deepen commitments in the city under its new strategic plan.

Jane Ferrara, executive director of LISC Virginia (Local Initiatives Support Corporation), updated the Petersburg City Council on the nonprofit’s work in the city and region and described programs to support affordable housing, wealth building, business lending and legal support for heirs-property issues.

Ferrara said LISC operates a Financial Opportunity Center in Petersburg, operated by Southside Community Development Housing Corporation, which provides employment training, financial coaching and a matched savings program; LISC reported serving 309 Petersburg residents through those programs and another 120 residents through a digital‑inclusion program supported by an NTIA federal grant and Virginia State University partnership. On homeownership, Ferrara described the WORTH program (Wealth Opportunities Realized Through Homeownership) and said LISC-assisted programs helped 78 Petersburg families since 2023, with 68 becoming homeowners; LISC reported deploying $120,000 in down-payment assistance in the city.

Ferrara also discussed lending and developer training: LISC has provided $415,000 in 0% business loans to Petersburg entrepreneurs and is preparing a housing developer training institute and an heirs‑property network that can fund up to $7,500 per case to help clear title. Ferrara said the organization has invested regionally for decades, highlighted results and said the city will feature prominently in LISC’s three-year strategic plan.

Why it matters: LISC’s programs provide capital and technical assistance intended to stabilize neighborhoods, help residents become homeowners and support small businesses — activities that intersect with the council’s redevelopment and housing agenda.

What the council did: Council members thanked Ferrara and indicated appreciation for the work; no formal action was taken.

Ending: Ferrara invited questions and said LISC will continue work in Petersburg as it finalizes a three-year strategic plan.