In 2024, LISC Jacksonville and community partners invested in the rejuvenation of Ribault Scenic Drive Park in Jacksonville, FL. The 1.36 acre park is one of the few places in Lake Forest where community members can recreate on the shoreline and the only park within walking distance for most Lake Forest Hills residents.
Using a combination of financing and grants, LISC complemented investments from their capital access program with $100K grant for urban surface improvements and a $21K grant from the City of Jacksonville Tree Mitigation Fund to support the following park improvements:
Planted 16 trees of 7 different species
Installed 6 rain gardens (3,162 square feet) at the edge of the park and in medians
Planted 600 square feet of native plants
Planted 0.3 acres of saltmarsh along the shoreline
Installed two small oyster reefs
Earth Economics found that their investment in providing ecosystem services will create $3 million in non-market benefits over 25 years, a return of $3.15 for every dollar LISC invests into the community.
Recognizing the value of nature and incorporating it into commercial investments is crucial to creating holistic outcomes with broader community benefits. Community Development Financial Institutions (CDFIs) are a bridge between capital and communities, providing low-interest loans to transform local neighborhoods into healthy and sustainable communities of choice and opportunity.
Photo: LISC Jacksonville
