Several projects made possible through the support of Wells Fargo
TAMPA, FL (Dec. 10, 2014) – 2014 marked a rewarding partnership between Rebuilding Together Tampa Bay (RTTB), Wells Fargo and the Wells Fargo Housing Foundation. This partnership proved fruitful in providing critical housing repairs to several low-income homeowners and helping several homebuyers afford their first home.
The overarching goal of this partnership is to revitalize neighborhoods across the Tampa Bay area. In November, Wells Fargo Housing Foundation provided a $15,000 grant to RTTB to support its growing affordable housing projects and expand real estate development opportunities. The grand total of their financial support since 2007 is $405,000.
Additionally, since 2010, Wells Fargo has also donated several residential properties to RTTB that will be made available to first-time homebuyers once rehabbed or built from scratch. One such property is a lot located at 8113 N. Newport Avenue in Tampa, where groundbreaking for a new single-family 3 bedroom/2 bath home has begun. Rebuilding Together Tampa Bay looks forward to this continued momentum in changing the housing landscape in the Tampa Bay area, as they’re also rehabbing properties donated by Wells Fargo in Plant City, New Port Richey, St. Petersburg and Springhill with a combined appraised value of $237,800. This latest contribution, represents up to $440,000 in value of donated properties by Wells Fargo.
Rebuilding Together Tampa Bay has been able to magnify Wells Fargo’s generous donations into:
The market value of the completed homes is estimated at $780,000.
The creation of new local jobs for those in the construction field.
Strengthening neighborhoods by creating housing opportunities and housing stabilization.
Leveraging of $300,000 in donations of labor, materials and additional funding.
But, most importantly, proceeds from sales of these properties are reinvested into the continuation of RTTB’s work to help more low-income homeowners and neighborhoods in need.
“Our partnership with Wells Fargo and their support has helped us revitalize neighborhoods, and ensure homeowners live in safer and healthier living conditions and increase economic development opportunities,” said Jose Garcia, RTTB’s Executive Director.
“Wells Fargo is committed to working with organizations like RTTB to create affordable housing opportunities for low-income families,” said Machelle Maner, Community Development Officer for Wells Fargo. “We believe these efforts will help strengthen neighborhoods, as well as help create long-term prosperity.”
Partnerships like this allow Tampa-based non-profit organizations such as RTTB to continue expanding programs and services within this economically hard-hit region. In addition to improving housing conditions, these efforts also result in improved community and economic development facets through the creation of employment opportunities and ultimately revitalization and stabilization.
Rebuilding Together Tampa Bay looks forward to their continued partnership with Wells Fargo as they work together to stabilize neighborhoods throughout Tampa Bay.
About Rebuilding Together Tampa Bay
Rebuilding Together Tampa Bay is a nonprofit organization, providing home repair services to low-income families, the elderly, wounded veterans, victims of disasters and persons with disabilities. Rebuilding Together Tampa Bay makes homes safer, healthier and more energy efficient by providing an array of home rehabilitation services including emergency services, home repairs, home improvements, weatherproofing and barrier removal.
Through support from foundation, corporate, public and individual sponsors; local businesses; skilled labor; and, the hands-on work of hundreds of volunteers each year, Rebuilding Together Tampa Bay renovates and repairs homes of Tampa Bay’s economically-disadvantaged homeowners. Since inception, the value of Rebuilding Together Tampa Bay’s work has totaled more than $4 million, repaired over 350 homes and non-profit-owned facilities and involved over 10,000 volunteers in its work. More information is available www.rttb.org.