Wells Fargo & Company announced it will donate $200,000 to A New Leaf as part of $6 million initiative in neighborhood stabilization grants awarded to 69 nonprofits through its 2015 Wells Fargo Housing Foundation Priority Markets Program to help stabilize and revitalize neighborhoods impacted by the economy. The Priority Markets Program provides grants to support large-scale neighborhood revitalization projects to further economic recovery in local communities. Since 2009, the program has provided grants totaling more than $36 million for nonprofits in 125 U.S. communities.
“Our Priority Markets Program is one of many ways we work together with nonprofits to support local communities and revitalize neighborhoods,” said Misha Patel Terrazas, Metro East Area President for Wells Fargo. “We are so pleased to support A New Leaf’s continued efforts to provide long-term permanent housing solutions to vulnerable individuals and families and improve neighborhoods in Mesa.”
A New Leaf is actively involved and experienced in community revitalization efforts and was identified by Wells Fargo as leading large-scale neighborhood projects. Priority Markets program grants can be used for any costs associated with the development or redevelopment of the project. Recipients must be IRS 501c3 organizations with successful histories of building or renovating housing for low-to moderate-income homebuyers.
Since 2009, the Priority Markets grant program, funded through the Wells Fargo Housing Foundation, has provided more than $36 million to 125 communities.
“We are delighted to receive this grant from Wells Fargo and appreciate their support and investment in the Mesa community,” said Michael Hughes, President and CEO of A New Leaf. “We look forward to beginning the third phase of our La Mesita Campus which will provide long term housing stability for low-income and homeless individuals and families and help to break the cycle of homelessness.”
A New Leaf will use the grant funds to construct 30 new Permanent Supportive Housing units at its existing La Mesita Campus in Mesa. A New Leaf’s La Mesita Campus project is an innovative approach to effectively addressing persistent and costly financial and social issues in the community while redeveloping a blighted low-income neighborhood and incorporating resources to maximize impact and outcomes.
The Priority Markets Program grants are administered through the Wells Fargo Housing Foundation.
In 2014, the Wells Fargo Housing Foundation donated nearly $20 million in support of affordable housing initiatives serving low-and moderate-income households – including for seniors, veterans, and families – through neighborhood stabilization and community revitalization efforts. Since its inception in 1993, the Wells Fargo Housing Foundation has invested more than $150 million to such efforts, along with mobilizing more than 4.6 million team member volunteer hours to build and rehabilitate more than 5,500 homes and counting.