Wells Fargo, one of the nation’s largest bankers, has awarded more than $5.53 million dollars to families in need of housing, in the form of grants in 2011 alone. In fact, in Clackamas County (and nearby Portland area) 3 dozen families who were in need of immediate housing grants were able to finally afford a home for themselves. The company currently has a program entitled, Priority Markets which is part of a national campaign to help people in need to obtain the housing they need. In the process, the company is helping to rebuild neighborhoods that have been distressed and have lost significant home value. In total, there were 3 local non profit groups which received the grant money.
The Clackamas Community Land Trust in Gladstone received $76,000, and when questioned what they will be doing with the grant money, they will be,
“using the funds to help buy and renovate 14 foreclosed houses.”
Another nonprofit, Proud Ground, is set to share a total of $124,000 with the Native American Youth and Family Center in Portland, OR. According to their spokesperson, they too, will be allocating the funds to purchase and renovate distressed and foreclosed homes.
So, what will these nonprofits do with the homes once the renovation has taken place on the homes? After the homes have been completely renovated, the groups will then sell the homes to those that need housing assistance and are in financial need. Basically, individuals and families who make low-income.
It’s apparent that Wells Fargo is certainly doing their part in giving back to the community. Organizations are not required by law to do this, and the fact that the company is so generous with their money and that they are putting this money to good use to ensure that families in need have a place to call home, is nothing short of “awesome”. The $200,000 received by these 3 groups was only $200,000 of the total $5+ million dollars that Wells Fargo donated in the year 2011. How did Wells Fargo choose which recipients to give the grants to? They received requests from non profits who were identified as having large scale housing projects that needed additional funding.
If you are in need of housing assistance or would like more information on grants, then please read a few of our related posts. Perhaps you can find a wealth of information about these types of grants that you never knew existed. Many people and non-profits are qualifying for these grants…don’t let yourself get left behind!