Sep 14Bank of America Announces $366,000 in Grants to Enhance Community Revitalization
September 14, 2016
Reporters May Contact:
Britney Sheehan, Bank of America, 1.425.467.9744
Support will help improve access to affordable housing and foster sustainable growth across Denver and beyond
DENVER – Bank of America today announced $366,000 in grants to be distributed to seven Denver nonprofits working to increase access to affordable housing and support neighborhood revitalization.
Funding will help low- and moderate-income individuals and families access affordable housing and additional resources needed for stable financial lives, thus driving growth in the Denver community.
“Community development initiatives and revival efforts help strengthen Denver as a place where people want to live, work, and do business, which leads to sustainable economic growth,” said Jodi Rolland, Colorado State and Denver Market President for Bank of America. “We’re honored to partner with leading nonprofit organizations that are addressing tough challenges in quality affordable housing to help build a thriving Denver-metro area.”
Among the nonprofits receiving grants is Mercy Housing, a nonprofit that seeks to alleviate local housing issues by providing affordable housing and supportive services to low-income families, senior citizens, and members of the special needs community. Mercy Housing will use the funding to help ongoing efforts towards the development and preservation of affordable housing throughout Denver and in other markets across the U.S.
“Addressing neighborhood blight and supporting revitalization efforts are key aspects to building healthy and vibrant communities,” said Jane Graf, President and CEO of Mercy Housing. “We are excited to put our recent grant from Bank of America to work in our local neighborhoods, and look forward to continuing to broaden the impact of our preservation efforts throughout the Denver community.”
Other organizations receiving grants include:
- Brothers Redevelopment, Inc.
- Hope Communities, Inc.
- Housing Colorado
- Lowry (Colorado) Community Land Trust
- Mile High Community Loan Fund
- Rocky Mountain Mutual Housing Association, Inc.
Bank of America’s support of community revitalization extends through its line of business efforts as well. This year in Denver, the organization provided more than $100 million in affordable and first-time home loans and invested $10 million in new loans to small businesses in the community.
Community revitalization is just one example of Bank of America’s commitment to responsible growth and shared success as it works to improve the financial lives of individuals and families in Denver. Philanthropic and volunteer investments play a key role in building thriving communities. In 2015, Bank of America delivered more than $1.5 million in support to Denver nonprofits while bank employees dedicated over 10,000 hours to volunteer efforts within the community.
About Bank of America Environmental, Social and Governance
At Bank of America, our focus on Environmental, Social and Governance (ESG) factors is critical to fulfilling our purpose of helping make people’s financial lives better. Our commitment to growing our business responsibly is embedded in every aspect of our company. It is demonstrated in the inclusive and supportive workplace we create for our employees, the responsible products and services we offer our customers, and the impact we help create around the world in helping local economies thrive. An important part of this work is forming strong partnerships across sectors – including community and environmental advocate groups, as well as non-profits – in order to bring together our collective networks and expertise to achieve greater impact. Learn more at www.bankofamerica.com/about and connect with us on Twitter at @BofA_News.
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