Wells Fargo Donates $250,000 for Denver-Aurora Stabilization Efforts
May 15 2018 - 3:00PM
Business Wire
NeighborhoodLIFT grants support affordable housing, housing
counseling, behavioral health
Wells Fargo & Company (NYSE: WFC) today announced a total of
$250,000 in donations for three local nonprofits to help revitalize
Denver-Aurora neighborhoods through the Wells Fargo
NeighborhoodLIFT® program.
Identified in collaboration with the city of Denver and city of
Aurora, the nonprofits support behavioral health programs and
affordable housing initiatives.
“Our Temporary Rental and Utility Assistance program is aimed at
promoting housing security among Denver residents who are working
hard but in need of support, and these funds will go a long way
toward helping that effort,” said Denver Mayor Michael B. Hancock.
“Through Wells Fargo’s NeighborhoodLIFT initiative, we’re able to
expand and enhance the housing counseling services offered to
residents receiving Temporary Rental and Utility Assistance,
creating more stability for them with pathways to home
ownership.”
“Our Aurora@Home collaborative is a critical behavioral health
effort that assists those who are homeless, or at-risk of becoming
homeless,” said Aurora Mayor Pro Tem Marsha Berzins. “It also
provides parents with tools to end the cycle of poverty for their
children. I can’t thank Wells Fargo enough for providing hope,
support and resources to revitalize our city through the
NeighborhoodLIFT program.”
The Wells Fargo Foundation will provide grants to the following
Denver-Aurora area nonprofits:
- Brothers Redevelopment, Inc.,
will receive $62,500 to support the Temporary Rental and Utility
Assistance program. Created as part of the Denver mayor's five-year
affordable housing plan, which is called Housing an Inclusive
Denver, the program will help at-risk residents remain in their
homes. The Temporary Rental and Utility Assistance program also
will provide emergency rental and utility assistance, housing
counseling services and eviction prevention counseling for
low-income residents who are at risk of displacement. These funds
are intended to help mitigate involuntary displacement, help
residents avoid eviction and provide time to help connect residents
to alternative housing for longer term stability.
- Northeast Denver Housing Center,
Inc., will receive $62,500 to support counseling and
educational preparedness that help low-to-moderate income
households make informed housing decisions. The center is
partnering with Del Norte to administer the Temporary Rental and
Utility Assistance program to provide lasting solutions for
households facing short-term hardship and the risk of displacement
and eviction.
- Aurora Mental Health Center will
receive $125,000 to provide supportive services associated with
Aurora@Home, a collaborative of approximately 16 organizations in
the city of Aurora that assists individuals and families who are
homeless or at-risk of becoming homeless. Funding will help furnish
63 households with 120 new beds and additional furniture, provide
training that helps participants learn to negotiate rent, and
provide career services such as resume writing, interview training
and computer skill development. In addition, parents will be given
tools so they can work with their children to contribute to ending
the cycle of poverty.
The grants are funded through Wells Fargo’s NeighborhoodLIFT
program, which was launched in September 2017 for Denver and Aurora
area homebuyers with a $4.8 million commitment by Wells Fargo to
boost local homeownership and revitalize neighborhoods. Thus far,
the NeighborhoodLIFT program has created 206 homeowners in the area
by offering homebuyer education plus matching down payment
assistance grants. An additional 37 homebuyers have grants reserved
and are in the process of closing a home purchase.
“Wells Fargo cares about communities, and this collaboration is
another example of our efforts to create affordable and sustainable
homeownership in local neighborhoods,” said Patrice DeCorrevont,
Wells Fargo regional president. “The NeighborhoodLIFT program will
help hardworking families and individuals get on the path to
achieve homeownership with down payment assistance and homebuyer
education.”
About NeighborhoodLIFT
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 17,550 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 $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.
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version on businesswire.com: https://www.businesswire.com/news/home/20180515006530/en/
Nicole Schwab,
303-863-4781Nicole.Schwab@wellsfargo.com@NSchwabWF
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