Dollar Bank Awards $150,000 to Neighborhood Allies!Leave a Comment
Our funders play a critical role in making positive neighborhood change possible. Neighborhood by neighborhood, block by block, their support is helping to build strong communities, strong neighborhoods, and strong families.
We’d like to take this opportunity to recognize Dollar Bank for their recent $100,000 investment in support of a Sustainable Home Ownership Plan for the Hill District and for the $50,000 investment in Neighborhood Allies operations. This investment will support a bold approach to increasing and protecting the supply of affordable housing needed for Pittsburgh to increase the diversity and vitality of its neighborhoods. The Sustainable Home Ownership plan, which was created as a component of Neighborhood Allies’ Healthy Neighborhoods framework, complements more than a dozen initiatives aimed at improving Market Confidence, Quality of Life, Celebrated Neighborhood Image, Community Ownership and Equitable Development in low-income communities. The primary objectives will be to:
- Preserve the affordability and quality of the existing housing stock in The Hill District
- Build and/or rehabilitate new affordable housing
- Promote and protect existing low-income homeowners by providing owner-occupied homeowner support
- Foster diverse, healthy neighborhoods
Neighborhood Allies will play a major role in bringing multiple community partners together, and proposes to invest financial and technical resources into a Sustainable Homeownership Program to promote, foster, and facilitate the acquisition, rehabilitation and/or preservation of affordable housing units by CDCs, CBOs and small developers. The program includes early action grants and recoverable grants for credit enhancement, feasibility studies, environmental assessment, capital needs assessments and similar project planning needs, followed by low-interest construction funding (if needed) and assistance with permanent financing.
Thank you, Dollar Bank, for your critical and ongoing support of Neighborhood Allies!