Wells Fargo Donates $600,000 for Revitalization Efforts in Los Angeles County
September 13 2019 - 2:45PM
Business Wire
Los Angeles NeighborhoodLIFT® program awards local initiative
grants to nonprofits serving the local community
Wells Fargo & Company (NYSE: WFC) today announced $600,000
in donations to local nonprofits to support housing, education and
neighborhood revitalization for Los Angeles residents.
“The NeighborhoodLIFT program is another example of our
commitment to Los Angeles and our efforts to bring forward housing
affordability solutions to communities across the U.S.,” said David
Galasso, Wells Fargo lead region president Greater California .
“The program will help hardworking families and individuals get on
the path to successfully becoming homeowners.”
The grants are funded by the Wells Fargo Foundation and follows
Wells Fargo’s announcement in June of an evolution in the company’s
philanthropic strategy that includes a $1 billion commitment over
the next six years to address the U.S. housing affordability
crisis.
NeighborhoodLIFT local initiative grants will be awarded to the
following local nonprofits:
- Destination Crenshaw — $25,000 for the construction a
1.3-mile-long outdoor art and cultural experience along the
Crenshaw/LAX Line. The art will be organized around four themes —
improvisation, firsts, dreams and togetherness — and will celebrate
the history and culture of Black Los Angeles while revitalizing the
neighborhood and ultimately fostering a new economic center.
- Downtown Women’s Center — $100,000 to support the
mission of the Downtown Women’s Center, which is to end women’s
homelessness in greater Los Angeles through housing, wellness,
employment and advocacy. The grant will go to support the Enhanced
Bridge Housing Program, a 25-bed center that addresses the needs of
women who are currently unhoused and living in Skid Row, providing
safe accommodations, meals, showers and continuity of care for
unhoused women who are in the process of pursuing housing.
- GRYD Foundation — $200,000 to create community
programming that helps Los Angeles overcome the obstacles posed by
street gang violence and socio-economic disparities. The
programming aims to turn the 32 program sites into safe hubs to
engage community members in positive physical, artistic and
cultural activities while also connecting them to vital health,
wellness and professional development resources.
- Los Angeles Neighborhood Initiative — $50,000 to support
the Wilmington Town Square Park, aiming to beautify and revitalize
the park into a vibrant town square to benefit the entire
community.
- Los Angeles Parks Foundation — $50,000 to enhance one of
the oldest green spaces in the city, Hollenbeck Park in Boyle
Heights, through the redesign of an outdoor fitness zone to bring
new and free exercise equipment to a heavily used part of the
park.
- San Gabriel Valley Habitat for Humanity — $25,000 to
support the Home Repair Program, a multifaceted initiative
responding to high housing costs in LA County including advocacy,
increased new home construction and a full-time home repair program
ensuring that seniors, veterans and other low-income earners are
able to successfully stay in their homes.
- Union Rescue Mission — $50,000 to support Workforce
Development & Social Enterprise Initiatives, which equip single
mothers who were previously experiencing homelessness and now
living at Hope Gardens Family Center (a transitional housing
program in Sylmar) with the confidence and skills to secure
employment and start building a stronger financial future for
themselves and their children.
Wells Fargo donates $100,000 “LIFT the Block” grants to
Century Housing and Pacoima Beautiful
As part of the Los Angeles NeighborhoodLIFT program, Wells Fargo
will also donate a total of $100,000 in “LIFT the Block” grants to
Century Housing and Pacoima Beautiful. Century Housing will receive
$50,000 to support small business facade improvements on Main
Street in the City of San Pedro. Pacoima Beautiful will receive
$50,000 to plant edible gardens along residential right of ways.
The sidewalk gardens will provide native herbs and fresh produce
for the Mercado Pacoima Farmers Market, and landscaping will
mitigate flooding by capturing storm water and employing
solar-powered irrigation.
More than 600 homeowners created in Los Angeles through LIFT
programs
The Los Angeles NeighborhoodLIFT program local initiative grants
are part of a $24.8 million philanthropic investment by Wells Fargo
— first announced in 2012 and expanded in 2019 to boost local
homeownership and revitalize neighborhoods. A collaboration with
NeighborWorks® America and Neighborhood Housing Services of Los
Angeles County, the NeighborhoodLIFT program has created more than
600 Los Angeles area homeowners by offering homebuyer education
plus down payment assistance grants.
In the wake of the housing crisis, Wells Fargo came together
with NeighborWorks America to develop the NeighborhoodLIFT program
in 2012. It has been introduced in 74 communities across the U.S.
and is the single largest corporate philanthropic effort in Wells
Fargo’s history, with a $475 million investment. LIFT programs have
created nearly 22,000 homeowners by offering homebuyer education
plus home down payments assistance grants. A video about the
NeighborhoodLIFT program is posted on Wells Fargo Stories.
About Wells Fargo
Founded in 1852 and headquartered in San Francisco, Wells Fargo
& Company (NYSE:WFC) provides banking, investment and mortgage
products and services, as well as consumer and commercial finance,
through 7,700 locations, more than 13,000 ATMs, and the internet
(wellsfargo.com). With approximately 262,000 team members, Wells
Fargo serves one in three households in the United States. With its
corporate philanthropy, Wells Fargo aims to pave a path to
stability and financial success for underserved communities by
focusing on housing affordability, small business growth, and
financial health, among other local community needs. In 2018, Wells
Fargo donated $444 million to nearly 11,000 nonprofits. For 10
consecutive years, Wells Fargo has held the honor of No. 1 in
workplace giving by United Way Worldwide. Wells Fargo team members
also actively support communities by donating more than 2 million
hours of volunteer time in the last year. News, insights and more
information on the company’s overall corporate responsibility are
available at Wells Fargo Stories and www.wellsfargo.com/impact.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190913005005/en/
Media Josefina Talavera, 213-253-3424
Josefina.Talavera@wellsfargo.com @JtalaveraWF
Stephanie Grant, 760-317-6505 Stephanie.Grant2@wellsfargo.com
@SGrantWF
Wells Fargo (NYSE:WFC)
Historical Stock Chart
From Mar 2024 to Apr 2024
Wells Fargo (NYSE:WFC)
Historical Stock Chart
From Apr 2023 to Apr 2024