Wells Fargo Donates $500,000 for Seattle-Area Revitalization Efforts
SEATTLE, January 27, 2017 /3BL Media/ – Wells Fargo & Company (NYSE: WFC) today announced a total of $500,000 in donations for five local nonprofits that will help revitalize Seattle neighborhoods through the Wells Fargo NeighborhoodLIFT® program.
The Wells Fargo Foundation is providing grants to the following Seattle-King County nonprofits:
Capitol Hill Housing – $100,000 grant to support construction of a mixed-use property in the community of White Center that will provide affordable housing options for low-to-moderate income families.
Downtown Emergency Service Center (DESC) – $100,000 grant to provide stable housing, and access to mental/behavioral/physical treatment to address the long-term needs of formerly homeless people living with severe and persistent challenges.
El Centro de la Raza – $100,000 grant to rehabilitate the El Patio Apartments and preserve affordable housing on Beacon Hill. The renovation will serve low-to-moderate income children, youth, families, elders, immigrants, Latinos and vulnerable populations.
Homestead Community Land Trust – $100,000 grant to build Riverton Park Phase I, which will create 11 affordable homes for low-to-moderate income homebuyers in Tukwila. Once completed, Riverton Park Phase I will consist of 31 homes.
Mercy Housing Northwest – $100,000 grant to support construction of Mercy Othello Plaza in Seattle’s Othello neighborhood. Upon completion, the development will include 108 affordable family housing units in two buildings, including indoor and outdoor gathering and activity space.
The grants are funded through Wells Fargo’s NeighborhoodLIFT program that was launched in July 2016 for Seattle-King County homebuyers with a $5 million commitment by Wells Fargo to boost local homeownership and revitalize neighborhoods. NeighborhoodLIFT will create hundreds of homeowners in Seattle-King County through homebuyer education plus matching down payment assistance grants up to $7,500.
Wells Fargo is collaborating with national nonprofit NeighborWorks America, and its local network member, HomeSight, to implement the program. More than $3.3 million in down payment assistance grants are still available and interested homebuyers may contact HomeSight or Wells Fargo Home Mortgage in Seattle-King County for information about eligibility requirements.
The Wells Fargo NeighborhoodLIFT local initiative grants for Seattle-King County will provide support for neighborhood revitalization, homeownership, health and wellness, and neighborhood beautification.
“Wells Fargo cares about our communities and we are making these investments to continue the revitalization effort to strengthen the Seattle area,” said Patrick Yalung, Wells Fargo regional president for Washington. “These nonprofits are actively leading programs to help stabilize housing, curb homelessness, and promote health and wellness and we believe these grants will add up to make a big impact.”
NeighborhoodLIFT® program is the single largest corporate philanthropic effort of its kind in Wells Fargo’s history. Since February 2012, LIFT programs combined have helped create more than 12, 900 homeowners in 48 communities. A video about LIFT 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. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 8,600 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 269,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 27 on Fortune’s 2016 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.