Wells Fargo & Company announced it will donate $90,000 to Casa Familiar of San Ysidro as part of a $6 million in grants awarded across 59 nonprofits through its 2012 Leading The Way Home Program Priority Markets Initiative to help stabilize and revitalize neighborhoods hard-hit by the economy. The Leading The Way Home Program Priority Markets Initiative provides grant support for neighborhood stabilization projects that are located in areas designated for revitalization to stimulate growth, stability and investment in distressed areas.
“These grants are focused on stabilizing and rebuilding local communities,” said Joe Mishriki, Wells Fargo’s Area President for the Desert Border Region. “We’re increasing our grant commitments to help even more efforts led by nonprofits to revitalize neighborhoods in cities that have been deeply affected by the challenging economy.”
Casa Familiar is actively involved and experienced in community revitalization efforts and was identified by Wells Fargo as being in need of extra help with large-scale neighborhood revitalization projects. Priority Markets Initiative program grants can be used for any costs associated with the development or redevelopment of the project except advertising and marketing. A maximum 20 percent of the grant can be used for home-buyer subsidies such as down payment/closing costs. Recipients must be an IRS 501c3 organizations with successful histories of building or renovating housing for low-to moderate-income homebuyers.
“We are thrilled with the support we are receiving from Wells Fargo Bank. We shared our work plans with them and they intersect completely with the priorities they have. It is so exciting for each side non-profit and for-profit entities to collaborate so that the community may move forward,” said Andrea Skorepa, CEO of Casa Familiar.
Wells Fargo’s Leading the Way Home community outreach program helps communities stabilize their current housing situation while advancing homeownership to build strong communities into the future. Since 2009, the Leading the Way Priority Markets Initiative grant program, fund-ed through the Wells Fargo Housing Foundation, has provided more than $18 million to more than 75 communities. From 2008 through October 2012, Wells Fargo has invested more than $148 million in community revitalization programs and $40 million in support of housing and credit counseling services.