Rapid City, SD (04/21/2012) – Wells Fargo is supporting the NeighborWorks® Dakota Home Resources’ (NWDHR) mission to revitalize neighborhoods and create affordable housing by donating a Rapid City property.
A ribbon
cutting ceremony was held on Saturday, April 21, at 10 a.m. at 716 Willsie
Ave. in Rapid City as Wells Fargo donated the property to NWDHR.
716
Willsie Ave. was a Wells Fargo Real Estate Owned (REO) Property. Wells
Fargo’s REO
Program facilitates the transfer of properties owned by Wells Fargo and investors to nonprofit housing intermediaries, like NWDHR, that
have a history of providing sustainable, affordable homeownership or rental
opportunities for low- to moderate-income (LMI) people. The program is designed to take
properties that have been foreclosed and move them back to the market to help
stabilize local economies.
“We’re thrilled to continue our work with NeighborWorks Dakota Home
Resources to help stabilize and rebuild Black Hills neighborhoods,
especially on a project that’s consistent with our commitment to environmental
stewardship,” said John Senden, Business Banking vice president, market
president for Wells Fargo in Spearfish and member of the NWDHR Board of Directors. “By donating this property, we’re
providing more than just safe and affordable housing—we’re providing hope for
people in need.”
716 Willsie Ave. is a foreclosed property that is beyond repair and will need to be demolished. To utilize all useable materials from the property, the College Park Block Club (formally Lemmon Avenue Block Club) will be helping salvage material to be used in the Lemmon Avenue Community Garden. The rest of the structure will then be demolished by a local contractor and soon be transformed into a site for a safe, decent and affordable home.
“We are
extremely pleased by the commitment Wells Fargo has shown toward NeighborWorks
Dakota Home Resources,” said NWDHR Executive Director Joy McCracken. “Through the on-going commitment of
Wells Fargo and other similar partners, NeighborWorks has helped change
hundreds of lives throughout the Black Hills.”
About Wells Fargo
Wells
Fargo provides financial services from 49 stores in 35 South Dakota and
southwestern Minnesota communities and employs more than 3,700 team members
throughout the region. Wells
Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based
financial services company with $1.3 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 9,000 stores, 12,000
ATMs, the Internet (wellsfargo.com), and other distribution channels across
North America and internationally.
With more than 270,000 team members, Wells Fargo serves one in three
households in America. Wells Fargo
& Company was ranked No. 23 on Fortune’s 2011 rankings of America’s
largest corporations. Wells
Fargo’s vision is to satisfy all our customers’ financial needs and help them
succeed financially.
About NeighborWorks®
Dakota Home Resources
NeighborWorks®
Dakota Home Resources is a private non-profit organization that has been assisting in providing
decent, safe and affordable housing and revitalizing neighborhoods for twenty
years. NeighborWorks® has helped more than 900
families realize their dream of homeownership. The partnership with Wells Fargo
supports the NeighborWorks® mission and will allow NWDHR to continue to provide decent, safe and affordable housing and
revitalize neighborhoods throughout our
communities. For more information
on NeighborWorks Dakota Home Resources or the Wells Fargo donation, contact Stephany at 605-578-1401
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