Local NeighborhoodLIFT grants, down payment assistance will help create about 280 homeowners
SAN FRANCISCO--(BUSINESS WIRE)--Wells Fargo & Company (NYSE: WFC) today announced a total of $250,000 in
donations for three local nonprofits to support affordable housing and
youth and family programs in the East Bay Area.
“These efforts are part of our ongoing commitment to building strong
communities,” said Stephen Hitchcock, Wells Fargo Diablo Bay Region Bank
President. “Whether it’s strengthening families and helping position our
youth for success or helping make homeownership more affordable and
sustainable, we are devoted to making a positive change and are very
excited about what we will accomplish together.”
The Wells Fargo grants are intended to support neighborhood
revitalization efforts through the Wells Fargo NeighborhoodLIFT
®
program from the Wells Fargo Foundation.
Wells Fargo NeighborhoodLIFT program local initiative grants will be
awarded to the following Bay Area nonprofits:
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Success through Self Academy will receive $80,000 through local
initiatives to support a Youth Mentoring and Food Literacy Program
designed to curtail risk factors for Pittsburg K-12, inner-city youth
through mentorship and to decrease childhood obesity risk through the
youth food literacy curriculum in partnership with 100 Black Men and
the University of California–Davis. The academy helps children reach
their full potential by establishing frequent and direct communication
among parents, teachers and students. It is the largest provider of
afterschool services in East Contra Costa County and serves more than
1,600 young people daily at 14 locations within the city of Pittsburg,
California.
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Hamilton Families will receive $85,000 in support of a
long-term approach to build families’ financial stability and
strengthen socioemotional skills in formerly homeless children.
Hamilton Families offers a comprehensive suite of programs at sites in
San Francisco and Oakland that work to end family homelessness
whenever possible, by providing shelter and stability for families in
crisis, returning families to permanent housing, and supporting the
well-being of all family members to ensure long term stability and
well-being. In 2016–17, Hamilton Families served 512 families in all
programs.
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Richmond Community Foundation will receive $85,000 to support
the Richmond Housing Renovation Program, which aims to renovate and
sell 40 blighted and abandoned properties to low- and moderate-income
first-time homebuyers over the five years of the pilot program.
Richmond has approximately 800 such properties, and the city’s Code
Enforcement Department manages about 250 of them at any given time.
The Richmond Community Foundation acquires, renovates, and sells homes
throughout the city using an innovative financial tool called a social
impact bond. The foundation’s SparkPoint Contra Costa initiative
ensures that there is a ready pool of first-time buyers to purchase
the homes. SparkPoint Contra Costa operates financial education
centers that help individuals and families.
About 280 homeowners assisted in the San Francisco Bay Area
The NeighborhoodLIFT program local initiative grants are part of an
effort expanded to the San Francisco Bay Area in November 2017 with a
$9.725 million commitment by Wells Fargo to boost local homeownership
and revitalize neighborhoods. The NeighborhoodLIFT program has assisted
224 homeowners in the area by offering homebuyer education plus $30,000
down payment assistance grants, and another 56 homebuyers are on the
path to becoming homeowners through the program in collaboration with
NeighborWorks® America and its network member, Community
Housing Development Corporation.
Since February 2012, LIFT programs have helped create more than 17,600
homeowners in 60 communities. A video about the NeighborhoodLIFT program
is posted on Wells
Fargo Stories.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified, community-based
financial services company with $1.9 trillion in assets. Wells Fargo’s
vision is to satisfy our customers’ financial needs and help them
succeed financially. Founded in 1852 and headquartered in San Francisco,
Wells Fargo provides banking, investments, mortgage, and consumer and
commercial finance through 8,200 locations, 13,000 ATMs, the internet
(wellsfargo.com) and mobile banking, and has offices in 42 countries and
territories to support customers who conduct business in the global
economy. With approximately 265,000 team members, Wells Fargo serves one
in three households in the United States. Wells Fargo & Company was
ranked No. 25 on Fortune’s 2017 rankings of America’s largest
corporations. News, insights and perspectives from Wells Fargo are also
available at Wells
Fargo Stories.