Wells Fargo, the nations leading home mortgage lender, today announced eligible nonprofits may apply for a grant as part of a new $11.4 million UrbanLIFTSM community grant program to help accelerate economic recovery and neighborhood improvement projects in 25 cities.
Were committed to advance community stabilization in cities significantly impacted by the housing downturn and improving the quality of life for everyone in our communities, said Jon Campbell, executive vice president and head of Government and Community relations at Wells Fargo. UrbanLIFTSM will help provide local nonprofits with additional resources they need to create safe, sustainable neighborhoods.
The UrbanLIFTSM community grant program, funded by Wells Fargo and administered by NeighborWorks America®, is designed to provide support to local nonprofits for large neighborhood improvement projects in 25 cities that have substantial diverse populations and have been affected by foreclosures. The eligible cities were determined as part of an agreement with the U.S. Department of Housing and Urban Development.
Nonprofits may apply for the grants to support neighborhood stabilization efforts in 25 cities with diverse populations including: Phoenix; Bakersfield, Fresno, Los Angeles, Modesto, Riverside, Sacramento, San Diego, Santa Ana, San Jose, Stockton and Vallejo, Calif.; Fort Lauderdale, Tampa, and West Palm Beach, FL; Austin, Houston, and San Antonio, TX; Detroit; Kansas City and St. Louis, MO; Las Vegas; New York; Memphis, TN; and Virginia Beach, VA.
NeighborWorks America® will administer the grant funds and determine eligibility. Approximately $458,000 will be available for each of the communities. Eligible grant applications must support neighborhood stabilization efforts for one of the 25 cities affected by the housing crisis. Local, regional and national 501(c)(3) non-profit organizations may apply for grants to support four types of projects: single-family housing rehabilitation, demolition, neighborhood improvement and housing-related site improvements.
This represents a significant commitment by Wells Fargo to invest in programs that will strengthen minority communities affected by foreclosure, said JK Huey, senior vice president of asset management and preservation with Wells Fargo Home Lending Servicing. We appreciate the perspective and collaboration with HUD, along with their efforts to shape these initiatives.
Local, regional and national 501(c)(3) non-profits that want to apply for the UrbanLIFTSM community grant program may do so at www.urbanapplication.org. For questions or to request applications, nonprofits can call 202-733-6980 or email firstname.lastname@example.org. The deadline to apply for grants is Sept. 30.
The UrbanLIFTSM community grant program is the most recent commitment Wells Fargo has made through its LIFT family of initiatives including the NeighborhoodLIFTSM and CityLIFTSM programs, a combined $170 million effort for 20 housing markets deeply affected by the housing crisis. Since its launch in February 2012, LIFT programs have helped create more than 4,100 homeowners with the support of down payment assistance and homebuyer education in collaboration with NeighborWorks America®, the national nonprofits affiliates and local city officials.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.4 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, and the Internet (wellsfargo.com), and has offices in more than 35 countries to support the banks customers who conduct business in the global economy. With more than 270,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 25 on Fortunes 2013 rankings of Americas largest corporations. Wells Fargos vision is to satisfy all our customers financial needs and help them succeed financially. Wells Fargo perspectives are also available at blog.wellsfargo.com.