BRIDGEPORT, CT, October 21, 2014
- Bridgeport Neighborhood Trust is announcing today that it has received a
$100,000 grant from Wells Fargo to continue its efforts of advancing Bridgeport
neighborhoods and improving quality of life through affordable housing
opportunities. Wells Fargo’s investment will allow Bridgeport Neighborhood
Trust to further expand its homeownership counseling program and to support
families in foreclosure.
“We’re committed to improving the
communities we serve,” said Kent McClun, Wells Fargo Greater Connecticut Area
President. “The Bridgeport Neighborhood Trust helps Bridgeport and its
residents achieve sustainable and affordable housing, and we’re proud to partner
with them in those efforts.”
Elizabeth Torres, Executive
Director of Bridgeport Neighborhood Trust, will announce Wells Fargo’s
investment today during the East End Neighborhood Revitalization Zones monthly
neighborhood meeting. "Thanks to Wells Fargo’s generous donation, $70,000
is going towards renovation work on two BNT owned buildings located on 1755
Stratford avenue and 1841 Stratford Avenue" states Torres, "These
renovations are part of the block by block stabilization initiative we are embarking
on in the East End. The remaining $30,000 will go towards foreclosure
prevention."
Over the past decade, Bridgeport
Neighborhood Trust’s Homeownership Counseling has helped close to 2,000
families and individuals understand the home buying process and make
appropriate financial decisions. Bridgeport Neighborhood Trust’s homeownership
services include: monthly pre-purchase and foreclosure prevention counseling
services.
About Wells Fargo:
Wells Fargo & Company
(NYSE: WFC) is a nationwide, diversified, community-based financial services
company with $1.6 trillion in assets. Founded in 1852 and headquartered in San
Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and
consumer and commercial finance through more than 8,700 locations, 12,500 ATMs,
and the internet (wellsfargo.com), and has offices in 36 countries to support
customers who conduct business in the global economy. With approximately
265,000 team members, Wells Fargo serves one in three households in the United
States. Wells Fargo & Company was ranked No. 29 on Fortune’s 2014 rankings of
America’s largest corporations. Wells Fargo’s vision is to satisfy all our
customers’ financial needs and help them succeed financially.
About Bridgeport
Neighborhood Trust:
BNT’s mission is to LEAD,
EMPOWER and CHANGE Bridgeport neighborhoods, improving quality of life through
affordable housing opportunities. To meet this challenge, BNT develops and
manages affordable housing, creates healthy homes with a focus on lead remediation
and provides comprehensive homeownership for low and moderate income families.
BNT was incorporated in 1986
and provides an array of services in the Bridgeport community. Over the past
eight years, BNT’s results include the development of 168 new scattered site
affordable housing units (102 are under management). Currently it has an
additional 11 units in construction and 231 units in pre-development. With
regards to its programs, BNT has created 957 lead-safe apartments and helped
more than 600 families achieve homeownership during this time period.