LISC names Tom Kroma to lead investments to support Toledo’s priorities in housing, economic opportunity to advance racial equity

LISC names Tom Kroma to lead investments to support Toledo’s priorities in housing, economic opportunity to advance racial equity

TOLEDO, Ohio, May 11, 2023 /PRNewswire/ — A community development organization that has delivered more than $200 million to fuel housing, economic development, and jobs in Toledo’s underserved neighborhoods has named a new executive director, with plans to accelerate investment activity in the region.

The national nonprofit Local Initiatives Support Corporation (LISC) tapped Tom Kroma this week to take the helm of its LISC Toledo program, leveraging his 25 years of experience in the public, private and nonprofit sectors serving the Toledo region.

Kroma most recently served as director of real estate for NeighborWorks in Toledo, overseeing development efforts and support programs focused on affordable housing—a particularly critical issue in the city. According to recent research, one-third of Toledo households are cost-burdened, and there is a shortage of more than 12,700 affordable units for people with extremely low incomes.

“Investing in affordable housing is not just about building or renovating structures,” Kroma said. “Stable, affordable homes directly connect to the well-being of our neighborhoods. They support good jobs, thriving small businesses, family health, community safety, and contribute to how well kids do in school. By investing in affordable housing, we have the chance to fuel economic opportunity and local growth,” he said.

In addition to his housing expertise, Kroma also has broad experience in other core aspects of community development. He previously served as director of economic development for Mercy Health, leading community stabilization efforts in the Cherry Legacy Neighborhood near St. Vincent Medical Center. Earlier, he was the director of the Toledo Department of Neighborhoods, managing the organization that plans, administers, and oversees the city’s use of community improvement funds.

Kroma spent an additional 15 years in various roles with the city—from serving as a manager in the department of transportation to director of public utilities to assistant chief of staff to the mayor. He also worked in the private sector as vice president at Surface Enterprises, Inc., managing projects and customer relations for a mid-sized commercial construction company.

“I am passionate about promoting collaborations, improving systems, and maximizing outcomes that benefit our city and all its residents,” he said. “That’s why I was so excited for this opportunity with LISC: day in and day out, our job is to build on Toledo’s rich culture and history so that everyone has the chance to contribute to and benefit from our vibrant future.”

Denise Scott, LISC national president, noted that Kroma’s experience directly connects to LISC’s three decades of work in Toledo and will help drive ongoing growth. “Tom knows that community investments aren’t just about projects; they are about people. He understands how important it is to directly engage with residents, business owners, funders, and city officials to craft plans that deliver on what people really want and need. And he has designed programs that break down barriers to opportunity, especially for people of color and other underserved communities. We are thrilled to have him on the LISC team.”

Kroma has a B.S. in construction management from Bowling Green State University and an associate degree in architectural technology from the University of Toledo Community & Technical College. He has volunteered his time with the Lucas Country Workforce Development board, the Ohio Conference of Community Development board, the Toledo Streets Newspaper board and the Toledo Metro Area Council of Government (TMACOG) Commuter Services Council, among other groups.

He can be reached at [email protected] beginning on May 15.

About LISC
LISC is one of the country’s largest community development organizations, helping forge vibrant, resilient communities across America. We work with residents and partners to close systemic gaps in health, wealth and opportunity and advance racial equity so that people and places can thrive. Since our founding in 1979, LISC has invested $29.7 billion to create more than 489,000 affordable homes and apartments, develop 81.4 million square feet of retail, community and educational space and help tens of thousands of people find employment and improve their finances. For more information, visit www.lisc.org.

SOURCE Local Initiatives Support Corporation (LISC)

Originally published at https://www.prnewswire.com/news-releases/lisc-names-tom-kroma-to-lead-investments-to-support-toledos-priorities-in-housing-economic-opportunity-to-advance-racial-equity-301822437.html

Real Estate - Miami County Post originally published at Real Estate - Miami County Post