Wells Fargo $500,000 Grant to Improve Cincinnati Neighborhood
Mayor Cranley commends progress of Cincinnati revitalization efforts and Wells Fargo NeighborhoodLIFT program
CINCINNATI, March 18, 2015 /3BL Media/ – Wells Fargo (NYSE: WFC) today announced a $500,000 grant through the Wells Fargo Cincinnati NeighborhoodLIFT program will be awarded to Price Hill Will, a community development corporation working to revitalize the East, West and Lower Price Hill neighborhoods of Cincinnati.
Price Hill Will was presented with the grant as part of a ceremony, attended by Mayor John Cranley, commemorating the completion of 45 home renovations by the agency, including the two homes located at 847 and 850 Academy Ave. in the Cedar Grove area of West Price Hill.
“This progress in the Price Hill neighborhood is a terrific example of the efforts happening in Cincinnati and being made possible with public-private collaboration,” said Mayor Cranley. “The work of Price Hill Will, the grant from Wells Fargo, and the NeighborhoodLIFT program are among several efforts working together to help our city move forward from past economic challenges that impacted many families and neighborhoods.”
Funded by Wells Fargo, the NeighborhoodLIFT program is a $5.2 million local effort launched last fall that will provide 235 eligible Cincinnati homebuyers with $15,000 each in down payment assistance grants. Wells Fargo is collaborating with the City of Cincinnati, The Home Ownership Center of Greater Cincinnati, Inc. and NeighborWorks America to implement the program.
“We understand the NeighborhoodLIFT program is just one small step in helping Cincinnati neighborhoods recover,” said J.R. Huber, area manager with Wells Fargo Home Mortgage. “Beyond the 235 new homeowners that will call Cincinnati home and the $500,000 grant donated to Price Hill Will as a result of NeighborhoodLIFT program, we hope others will do what they can to help make Cincinnati neighborhoods stronger.”
The $500,000 grant from the Wells Fargo NeighborhoodLIFT program will enable Price Hill Will to continue its revitalization work in West Price Hill that will include the rehabilitation of multiple single-family housing units and the removal of a long-vacant, mixed-used building on a key corner of the community.
“It’s very rewarding to contribute to improving Cincinnati neighborhoods,” said Ken Smith, Executive Director of Price Hill Will. “Our efforts to buy, improve, and sell properties, along with helping our clients prepare for homeownership, is making a tremendous difference to neighborhoods and helping more Cincinnati residents achieve homeownership.”
Since the NeighborhoodLIFT program was launched in Cincinnati last fall, 81 Cincinnati homeowners have received a $15,000 grant to buy a home. Also, dozens of prospective Cincinnati homebuyers are on the path to reserving a NeighborhoodLIFT program down payment assistance grant and completing homebuyer education with The Home Ownership of Greater Cincinnati, Inc. More than two dozen down payment assistance grants are still available and interested homebuyers may contact The Home Ownership Center of Greater Cincinnati, Inc. at www.hometoday.cc or a Wells Fargo Home Mortgage Consultant about the Cincinnati NeighborhoodLIFT program.
About Price Hill Will (Twitter @PriceHillWill)
Price Hill Will is a nonprofit community development corporation working to revitalize the East, West and Lower Price Hill neighborhoods of Cincinnati. We take a multi-faceted approach that includes physical rehabilitation, commercial development and community engagement through arts programming, green programming, and special events such as Holiday on the Hill, the Warsaw Arts Festival, and the Dueling Bartenders of Price Hill. Learn more about Price Hill Will at www.pricehillwill.org
About NeighborhoodLIFT®
The NeighborhoodLIFT® program is collaboration between Wells Fargo Bank, N.A., the Wells Fargo Foundation, NeighborWorks America, an independent non-profit organization, and local non-profit organizations. The NeighborhoodLIFT® program is designed to provide sustainable homeownership initiatives in cities deeply affected by the housing crisis. Since 2012, with a combined $230 million investment by Wells Fargo, LIFT programs have been introduced to 32 communities and created more than 8,750 homeowners with the help of down payment assistance and homebuyer education. A video about the NeighborhoodLIFT program is posted on the Wells Fargo YouTube Channel.
About Wells Fargo (Twitter @WellsFargo)
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.7 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 8,700 locations, 12,500 ATMs, and the internet (wellsfargo.com), and has offices in 36 countries 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. 29 on Fortune’s 2014 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially. Wells Fargo perspectives are also available at Wells Fargo Blogs and Wells Fargo Stories.
