Wells Fargo is accepting applications for $11.4 million in grants to help nonprofits in 25 cities accelerate economic recovery and improvements in neighborhoods hard hit by foreclosures, including Los Angeles, the company has announced.
The deadline to apply to the UrbanLIFTSM Community Grant Program is Sept. 30.
“We’re 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. “UrbanLIFT(SM) will help provide local nonprofits with additional resources they need to create safe, sustainable neighborhoods.”
The UrbanLIFT(SM) community grant program, funded by Wells Fargo and administered by NeighborWorks America(R), is designed to provide for four types of large improvement projects: single-family housing rehabilitation, demolition, neighborhood improvement and housing-related site improvements.
The goal is to support neighborhood stabilization programs in areas with large ethnic populations that were significantly affected by the housing crisis, according to Well Fargo.
Eligible cities were determined as parts of an agreement with the U.S. Department of Housing and Urban Development. In California, the targeted cities are Los Angeles, Bakersfield, Fresno, Modesto, Riverside, Sacramento, San Diego, Santa Ana, San Jose, Stockton and Vallejo. Other cities across the country include Phoenix, Arizona; 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.
Approximately $458,000 is expected to be available for each of the communities, according to Wells Fargo.
“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 UrbanLIFT(SM) community grant program may do so at www.urbanapplication.org. For questions or to request applications, nonprofits can call (202) 733-6980 or email email@example.com.