Wells Fargo Donates $250,000 for Nashville-Area Revitalization Efforts
NASHVILLE, Tenn., February 13, 2018 /3BL Media/ - Wells Fargo & Company (NYSE: WFC) today announced a total of $250,000 in donations for two local nonprofits to help revitalize Nashville neighborhoods through the Wells Fargo NeighborhoodLIFT® program.
Identified in collaboration with the city of Nashville, the Wells Fargo grants will provide support for new construction of affordable housing as well as for health and wellness.
“These grants are a huge win for our city and truly meet a growing need to help build strong, sustainable communities,” said Mayor Megan Barry. “The availability of $15,000 down payment assistance grants and other counseling services through Wells Fargo’s NeighborhoodLIFT program are helping to make the dream of homeownership a reality for many individuals and families in Nashville.”
The Wells Fargo Foundation will provide grants to the following Nashville-area nonprofits:
Friends of Hubbard House will receive $50,000 to support the demolition and restoration of interior areas of the Hubbard House, which provides healthcare, supportive services and educational opportunities for the community. The Hubbard House, a historic cornerstone in South Nashville, was built in 1921 for Dr. George Hubbard, president of Meharry Medical College, an African-American medical school. It has been on the National Register of Historic Places since 1973 and is valuable piece of local history.
Urban Housing Solutions will receive $200,000 to support the construction of a new residential and mixed-use, arts-inspired community in North Nashville. Urban Housing Solutions provides 970 affordable housing units and support services for individuals and families with low incomes in Metro Nashville. Many of its residents are formerly homeless, in recovery from drug and alcohol addiction, mentally ill or physically disabled.
The grants are funded through Wells Fargo’s NeighborhoodLIFT program, which was launched in October 2017 for Nashville homebuyers, with a $4.2 million commitment by Wells Fargo to boost local homeownership and revitalize neighborhoods. Thus far, the NeighborhoodLIFT program has created 89 homeowners in the Nashville area by offering homebuyer education plus matching down payment assistance grants.
More than 100 down payment assistance grants of up to $15,000 are still available for homebuyers in the Nashville area. Interested homebuyers may contact NeighborWorks America’s local network member, Affordable Housing Resources, or Wells Fargo Home Mortgage in Nashville for information about eligibility requirements.
“The NeighborhoodLIFT program is another example of our commitment to the greater Nashville area and our efforts to building stronger communities through sustainable homeownership,” said Stephen Norris, Wells Fargo region president. “We recently enhanced the program for veterans, military servicemembers, teachers, law enforcement officers, firefighters and emergency medical technicians in honor of the services they provide to the community. The program will help hardworking families and individuals get on the path to achieve homeownership.”
NeighborhoodLIFT® program is the single largest corporate philanthropic effort of its kind in Wells Fargo’s history. In collaboration with NeighborWorks America, the Wells Fargo LIFT program has helped create more than 15,870 homeowners in 57 communities since 2012. A video about NeighborhoodLIFT programs is posted on Wells Fargo Stories.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $2.0 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, insurance, investments, mortgage, and consumer and commercial finance through more than 8,300 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 263,000 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.
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