Wells Fargo Donates $250,000 for Denver-Aurora Stabilization Efforts
DENVER--(BUSINESS WIRE)--May 15, 2018--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.”
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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PUB: 05/15/2018 03:00 PM/DISC: 05/15/2018 03:00 PM