Wells Fargo donates $100,000 to Revitalize Birmingham Neighborhoods #Entrepreneur @MondoPlayer [Video]

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(Source: WBRC Video) BIRMINGHAM, AL (WBRC) - Wells Fargo donated a total of $100,000 to two local nonprofits to help revitalize Birmingham neighborhoods through the Wells Fargo NeighborhoodLIFT program on Wednesday.In collaboration with the city of Birmingham, the Wells Fargo grants will provide...

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(Source: WBRC Video)(Source: WBRC Video)

BIRMINGHAM, AL (WBRC) –

Wells Fargo donated a total of $100,000 to two local nonprofits to help revitalize Birmingham neighborhoods through the Wells Fargo NeighborhoodLIFT program on Wednesday.

In collaboration with the city of Birmingham, the Wells Fargo grants will provide support for small business and construction of new affordable housing.

 The Wells Fargo Foundation will provide grants to the following Birmingham nonprofits:

  • Habitat for Humanity of Greater Birmingham will receive $50,000 to support the construction of affordable housing in Cascade Parc, a 19-acre urban development in the heart of Birmingham’s East Lake neighborhood. A total of 23 new homes have been built, and sold, to homebuyers in need of quality, affordable housing in Cascade Parc. The completed development is expected to include up to 40 new houses, plus green space to benefit residents and surrounding communities. East Lake is rich in history and is undergoing significant neighborhood revitalization.
     
  • REV Birmingham Inc. will receive $50,000 to support entrepreneurs and small business owners as they move their business models from concept to sustainability. Through a pipeline of services, REV will help startups navigate the challenges of finding capital and discovering the right business location, while connecting them to communities of business owners and service providers. In addition, REV will lead a strategic effort to identify businesses that may be potential owners, and renters, for commercial spaces in REV’s target districts. In these urban Birmingham communities, REV works to create vibrant commercial districts by growing sustainable businesses and filling vacant spaces.

The grants are funded through Wells Fargo’s NeighborhoodLIFT program, which was launched in April 2017 for Birmingham and Jefferson County homebuyers, with a $2.55 million commitment by Wells Fargo to boost local homeownership and revitalize neighborhoods. Thus far, the NeighborhoodLIFT program has created 63 homeowners in the area by offering homebuyer education plus matching down payment assistance grants.

Down payment assistance grants of up to $7,500 are still available for homebuyers in the Birmingham and Jefferson County area. Interested homebuyers may contact NeighborWorks America’s local network member, Neighborhood Housing Services of Birmingham, or Wells Fargo Home Mortgage in Birmingham for information about eligibility requirements.

Copyright 2018 WBRC. All rights reserved.

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