123rf.com: Kittitee Pangwang
Wells Fargo donates $500K for Phoenix revitalization efforts
Wells Fargo & Company (NYSE: WFC) dulled out a total of $500,000 in donations for seven local nonprofits that will help revitalize Maricopa County neighborhoods through the Wells Fargo NeighborhoodLIFT program.
The local grant recipients were identified in collaboration with the City of Phoenix and Mayor Greg Stanton.
The Wells Fargo Foundation is providing grants to the following Phoenix nonprofits:
- Arizona Women’s Education and Employment – $50,000 grant to support women-owned small businesses, economic development, and job programs.
- Mission Create aka The Armory – $50,000 grant for economic development and small business entrepreneurship for military veterans.
- Native American Connections, Inc. – $125,000 grant for transitional housing services for the homeless.
- Teach for America: Phoenix – $50,000 grant to workforce development for teachers in Title 1 schools.
- UMOM New Day Centers, Inc. – $125,000 grant to support transitional housing services for homeless families and women.
- Greater Phoenix Urban League – $50,000 grant for small business economic development, workforce development and job programs.
- One N Ten, Inc. – $50,000 grant to support transitional housing for homeless LGBT youth.
The grants are funded through the Wells Fargo’s NeighborhoodLIFT program that was expanded in 2016 for Maricopa County homebuyers with a $5 million commitment by Wells Fargo to boost local homeownership and revitalize neighborhoods.
“Each one of these grants will help a great organization and address a key priority for our city – including support for veterans, education, uplifting women and families and reengaging under-served communities,” Mayor Stanton said. “Through NeighborhoodLIFT, Wells Fargo is bringing our community closer together and helping Phoenix grow its economy at all levels.”
The NeighborhoodLIFT program for Maricopa County follows the Phoenix NeighborhoodLIFT program launched in 2012 that created 375 homeowners as a result of an $8 million investment by Wells Fargo. Maricopa County is now one of 45 communities across the country that will benefit from more than $307 million Wells Fargo has committed through its LIFT programs.
“Wells Fargo cares about our communities and we are making these investments to continue the revitalization effort to strengthen Greater Phoenix,” said Pam Conboy, Wells Fargo Arizona lead regional president. “These nonprofits are actively leading efforts to help stabilize housing, create jobs and provide education programs, and we believe these grants with add up to make a big impact.”
In addition to the local grants, the NeighborhoodLIFT program is revitalizing neighborhoods by providing down payment assistance to help more local families achieve successful, sustainable homeownership. In Maricopa County, more than 200 down payment assistance grants of up to $7,500 are still available for eligible homebuyers. Wells Fargo is collaborating with the City of Phoenix, national nonprofit NeighborWorks America, and its local affiliate, Trellis, to implement the program.