|[December 11, 2012]
Habitat for Humanity Receiving Bank of America Property Donations to Help Affiliates Serve Low-Income Families and Communities
ATLANTA --(Business Wire)--
Habitat for Humanity has received its largest one-time commitment of
property donations from Bank of America, which will donate up to 2,000
vacant properties for renovation or reconstruction over the next three
years. The donations will substantially support Habitat's efforts to
create affordable housing in partnership with low-income families in
need of decent, affordable homes.
"The donation of these properties by Bank of America is a tremendous
boost to our efforts to revitalize distressed communities all across the
country," said Jonathan Reckford, CEO of Habitat for Humanity
"These donations can make a dramatic difference for so many Habitat
affiliates, increasing their suitable property inventory. Habitat can
repair and rehabilitate vacant houses where appropriate, and build new
houses where necessary, partnering with low-income families in need of
affordable housing. Neighborhoods will be healthier, families will be
able to build on a strong foundation of stable homes, and entire
communities will benefit from inviting and thriving places to live,"
"Habitat and Bank of America share a mission of providing families in
need of affordable shelter with the opportunity to enjoy the benefits of
homeownership," said D. Steve Boland, national mortgage outreach
executive for Bank of America. "This initiative makes affordable homes
available in partnership with the families, at the same time that it
combats neighborhood blight that may occur around vacant properties and
helps to stabilize and revitalize communities.
"Through our Foundation, Bank of America has been a financial supporter
of Habitat's mission for 25 years, and this effort builds on that legacy
and takes our partnership to another level," Boland added.
In addition to the property donation program through Bank of America
Home Loans, this year the Bank of America Charitable Foundation made
grants totaling $22 million to nonprofits that support housing needs
nationwide, including $3 million to Habitat for Humanity International
and its affiliates. Since 2002, the Foundation has contributed more than
$22 million to Habitat's work around the world, and bank employees
annually contribute more than 30,000 volunteer hours to help
rehabilitate and build homes.
Under the new strategic alliance, Habitat will turn up to 2,000 Bank of
America donations of low-value and of-value distressed properties -
vacant single-family residences or lots - into affordable housing. If
existing structures need to be cleared from low-value properties to make
way for construction of new houses, Bank of America also will contribute
to the costs of demolition.
In North Fort Myers, Fla., Habitat for Humanity of Lee and Hendry
Counties recently approed a budget that would allow the affiliate to
partner with 38 low-income families in the current fiscal year. However,
through the property donation program, the affiliate has accepted eight
properties in the communities of Cape Coral, Lehigh and Bonita Springs,
increasing its capacity to serve families by more than 20 percent in the
2013 fiscal year.
"This program is a tremendous boost for us," said Kitty Green, president
and CEO, Habitat for Humanity of Lee and Hendry Counties, Inc. "Bank of
America's partnership with Habitat is allowing us to serve more of the
many low-income families in need of affordable housing in our market.
The donated properties are great houses we can rehab in partnership with
Habitat families and that those families will be thrilled to own."
The effects can be even greater on affiliates such as Habitat for
Humanity - DeKalb County, Georgia. The affiliate expected to serve three
family partners this year, but with four property donations accepted and
more donations possible, the affiliate may partner with up to 10
low-income families in its service area.
"We are very excited to be a part of this program with Bank of America,"
said Eric Larson, board president for Habitat for Humanity - DeKalb.
"Our affiliate will celebrate its 25-year anniversary this year, and we
believe this program will allow us to serve more than twice as many
low-income families in DeKalb County as previously anticipated, as well
as support our efforts to revitalize neighborhoods."
A portion of the properties donated by Bank of America will be included
in the bank's recent commitment to make up to 1,000 properties available
to non-profit organizations providing housing opportunities for military
veterans, and others will be targeted to provide relief for families
affected by disasters.
Habitat selects homebuyers based on the need for affordable housing, a
willingness to partner with Habitat by investing "sweat-equity" labor in
the construction or renovation of their houses and the ability to repay
About Habitat for Humanity International
Habitat for Humanity International is a global nonprofit Christian
housing organization that seeks to put God's love into action by
bringing people together to build homes, communities and hope. Since
1976, Habitat has served more than 600,000 families by welcoming people
of all races, religions and nationalities to construct, rehabilitate or
preserve homes; by advocating for fair and just housing policies; and by
providing training and access to resources to help families improve
their shelter conditions. For more information, to donate or to
volunteer, please visit www.habitat.org,
or follow us at www.facebook.com/habitat
or at www.twitter.com/habitat_org
or join Habitat's blog community at www.habitat.org/blog.
About Bank of America Corporate Social Responsibility
Bank of America's commitment to corporate social responsibility (CSR (News - Alert)) is
a strategic part of doing business globally. Our CSR efforts guide how
we operate in a socially, economically, financially and environmentally
responsible way around the world, to deliver for shareholders,
customers, clients and employees. Our goal is to help create
economically vibrant regions and communities through lending, investing
and giving. By partnering with our stakeholders, we create value that
empowers individuals and communities to thrive and contributes to the
long-term success of our business. We have several core areas of focus
for our CSR, including responsible business practices; environmental
sustainability; strengthening local communities with a focus on housing,
hunger and jobs; investing in global leadership development; and
engaging through arts and culture. As part of these efforts, employee
volunteers across the company contribute their time, passion and
expertise to address issues in communities where they live and work.
Learn more at www.bankofamerica.com/about
and follow us on Twitter (News - Alert) at @BofA_Community.
For more Bank of America news, visit the Bank
of America newsroom.
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