$300,000 grant will fund 23 agencies throughout the nation to support home ownership opportunity
NeighborImpact of Redmond, Oregon -- formerly Central Oregon Community Action Agency Network (COCAAN) -– will receive $5,000 as part of a $300,000 grant made to NeighborWorks America to support the NeighborWorks Campaign for Home Ownership and the NeighborWorks Training Institute, made possible by the Bank of America Charitable Foundation.
The NeighborWorks Campaign for Home Ownership, launched in 1993, has resulted in more than $10 billion in home loans and helped nearly 100,000 people become homeowners. More than 91 percent of the homeowners assisted by the Campaign were first-time homebuyers, and 90 percent of the families served by the program had low- or moderate-incomes.
"Home ownership is crucial in helping low- and moderate-income families build assets and move toward financial self-sufficiency," said Elizabeth Ferrer, Bank of America National Programs executive. "We are delighted to partner with NeighborWorks, an organization that has a proven track record of effectiveness in increasing affordable home ownership."
The grant, announced Thursday, will provide contributions of $15,000 for each of sixteen Home Ownership Centers in key urban markets, $5,000 grants for seven rural Home Ownership Centers and $25,000 to support the NeighborWorks Training Institute. Through the institute, NeighborWorks America offers training, certification and other resources to thousands of community development professionals who work to revitalize their communities.
"The NeighborWorks Home Ownership Centers provide a comprehensive set of services, from credit counseling to post-purchase support, to assist lower- income families on the path to purchasing and maintaining a home," said NeighborWorks of America CEO Ken Wade. "With the generous support of the Bank of America Charitable Foundation, NeighborWorks America will empower low- and moderate-income families to achieve homeownership, build wealth and strengthen their communities."
The NeighborWorks Campaign for Home Ownership is based on partnerships with more than 150 local organizations across the country.
The sixteen organizations receiving $15,000 contributions as a result of the Bank of America grant are:
1. Los Angeles NHS – Los Angeles, CA
2. Community HousingWorks – San Diego, CA
3. NHS of Silicon Valley – San Jose, CA
4. Neighborhood Housing Services of Orange County – Santa Ana, CA
5. Housing Partnership of NE Florida – Jacksonville, FL
6. Miami Dade NHS – Miami, FL
7. Housing Partnership – West Palm, FL
8. Charlotte Mecklenburg Housing Partnership – Charlotte, NC
9. Community Development Corp. – Long Island, NY
10. NHS of San Antonio – San Antonio, TX
11. HomeSight – Seattle, WA
12. St. Petersburg Neighborhood Housing Services – St. Petersburg, FL
13. Clearwater Neighborhood Housing Services – Clearwater, FL
14. Neighborhood Housing & Development Corp. – Gainesville, FL
15. NHS Home Headquarters – Syracuse, NY
16. NHS of Inland Empire – San Bernadino, CA
The seven Home Ownership Centers that serve rural markets will receive $5,000 each are:
1. Affordable Housing Resources – Nashville, TN
2. Community Housing Services – Wichita, KS
3. TRIP – Troy, NY
4. Affordable Housing Education & Dev. (AHEAD) – Littleton, NH
5. NeighborImpact (formerly COCAAN) – Redmond, OR
6. Homewise – Santa Fe, NM
7. Neighborhood Housing Services of Waco – Waco, TX
About NeighborWorks® America
NeighborWorks America provides financial support, technical assistance and training for communities across the nation, including the NeighborWorks(R) network - a nationwide network of nearly 4,500 urban, suburban and rural communities across America. These organizations engage in revitalization strategies that strengthen communities and transform lives. In the last five years alone, NeighborWorks organizations have generated more than $12 billion in reinvestment and helped more than 845,000 families of modest means purchase or improve their homes, or secure safe, decent rental or mutual housing.
About Bank of America Corporate Philanthropy
The Bank of America Charitable Foundation has embarked on an unprecedented 10-year goal to give $1.5 billion to nonprofit organizations engaged in improving the quality and vitality of their neighborhoods. The bank is on track to exceed that goal by giving more than $200 million in 2006, making it one of the most generous corporate donors in the world. Bank of America approaches giving through a national strategy called "neighborhood excellence" under which it works with local leaders to identify and meet the most pressing needs of communities. Through Team Bank of America, bank associate volunteers contribute more than 650,000 hours each year to improve the quality of life in their communities nationwide. For more information about Bank of America Corporate Philanthropy, please click here.