CHARLOTTE and DES MOINES - December 1, 2011
Wells Fargo & Company (NYSE: WFC) today announced it will donate $5.53 million – an increase of 11 percent above last year – shared across 52 nonprofits through its Leading the Way Home® Program Priority Markets Initiative to help stabilize and revitalize neighborhoods. The grants will help purchase and redevelop foreclosed and abandoned properties in neighborhoods hard-hit by the economy.
“These grants will help stabilize and rebuild local communities,” said Kimberly Jackson, executive director of Wells Fargo’s Housing Foundation. “We want to do what we can to make resources available to support efforts led by nonprofits to revitalize neighborhoods in cities that have felt the effects of financial difficulties and a challenging economy.”
|Wells Fargo is making $5.53 million in grants that will be shared across 52 nonprofits including:|
|* Affordable Housing Network (Cedar Rapids, IA)||* Dallas Area Habitat for Humanity||* Jewish Renaissance Foundation (Perth Amboy, NJ)||* Promise Land Community Development Corp (Augusta, GA)|
|* Avenue CDC (Houston)||* East Bay Community Foundation (Oakland, Calif.)||* Layton Boulevard West Neighbors (Milwaukee)||* Quantum Community Development Corp (Los Angeles)|
|* Better Housing Coalition (Richmond, VA)||* Frameworks (Austin, TX)||* Mercy Housing (Boise)||* Rebuilding Together Sacramento|
|* Consumer Credit Counseling Services (Las Vegas)||* Friendship Community Development Corporation (Charlotte)||* Mercy Housing Lakefront (Chicago)||* Rock Island Economic Growth Corp. (Quad Cities, IA)|
|* Community Development Corporate of Utah (Salt Lake City)||* Greater Birmingham Habitat for Humanity (Birmingham, AL)||* Neighborhood Partnership Services (San Bernardino, Calif.)||* San Antonio, TX Alternative Housing Corp|
|* City of Minneapolis||* Habitat for Humanity Fresno County (Fresno, Calif.)||* Neighborhood Renaissance, Inc. (Palm Beach, FL)||* Sawmill (Albuquerque, NM)|
|* City of Houston||* Habitat for Humanity Riverside, Calif.||* Neighborhood Housing Services of New Haven, CT||* Self-Help Enterprises (Bakersfield, Calif.)|
|* City of Sioux Falls, SD||* Habitat for Humanity Stanislaus County (Modesto, Calif.)||* Neighborhood Housing Services of Orange County (Santa Ana, Calif.)||* Southern Crescent Habitat for Humanity (Atlanta)|
|* City of St. Paul, MN||* Habitat for Humanity Central AZ (Phoenix)||* Northwest Jacksonville, FL Community Development Corp||* St. Ambrose Housing Aid Center (Baltimore)|
|* City of Vallejo, Calif.||* Habitat for Humanity of Forsyth County (Winston-Salem, NC)||* Omaha, NE Economic Development||* St. John Community Development Corp (Miami)|
|* Cleveland Housing Network||* Habitat for Humanity of Greater Orlando Area||* Pathfinder Services Inc (Ft. Wayne, ID)||* Texas State Affordable Housing Corp (El Paso, TX)|
|* Colorado Rural Housing Develop (Denver)||* Homestead Comm Land Trust (Seattle)||* People's Emergency Center (Philadelphia)||* Trinity Habitat for Humanity (Ft. Worth, TX)|
|* Community Housing of Wyandotte County (Kansas City, KS)||* Jersey City Episcopal Community Development Corp (Jersey City, NJ)||* Portland, Ore. Community Land Trust||* Visionary Home Builders (Stockton, Calif.)|
Grant recipients were selected from requests submitted by local team members and nonprofits Wells Fargo identified as being in need of extra help with large-scale neighborhood revitalization projects. Priority Markets Initiative Program grants can be used for any costs associated with the development or redevelopment of the project except advertising and marketing. A maximum of 20 percent of the grant can be used for homebuyer subsidies such as down payment/closing costs. Recipients must be an IRS 501(c)3 organization or a government entity with successful histories of building or renovating housing for low-to moderate-income homebuyers.
Wells Fargo’s Leading the Way Home® community outreach program helps communities stabilize their current housing situation while advancing homeownership to build strong communities into the future. From 2008 through November 2011, Wells Fargo has invested more than $40.8 million in community revitalization programs.
The Leading the Way Program Priority Markets Initiative grants are administered through the Wells Fargo Housing Foundation. The Wells Fargo Housing Foundation has stewarded more than $82 million and 4.5 million team member volunteer hours in support of creating affordable housing and community revitalization programs. Wells Fargo Housing Foundation’s Team Member Volunteer Program has mobilized more than 175,000 volunteers to build or refurbish 3,6oo homes in low-to-moderate income communities. In 2010, Wells Fargo Housing Foundation programs delivered a record $27 million, 1,507 discounted and 295 donated properties to support local affordable housing and community revitalization programs.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.3 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, the Internet (wellsfargo.com and wachovia.com), and other distribution channels across North America and internationally. With more than 270,000 team members, Wells Fargo serves one in three households in America. Wells Fargo & Company was ranked No. 23 on Fortun e’s 2011 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially. Wells Fargo Bank, N.A. is an equal housing lender.