Bank of America is partnering with Habitat for Humanity Sarasota, Habitat for Humanity South Sarasota County, and Manatee County Habitat for Humanity to expand the reach of affordable housing programs serving Sarasota-Manatee residents.
A $38,000 investment by the bank will support each organization’s initiatives targeting different stages of the homeownership journey:
• Habitat for Humanity Sarasota will use the grant to help families avoid substandard and overcrowded living situations by providing mortgages that do not exceed 30% of an owners’ household gross monthly income. The funding will also enable the organization to renovate a family’s home in Jordan’s Crossing.
• Habitat for Humanity South Sarasota County’s grant will help the organization build eight safe, affordable and energy-efficient homes. The chapter serves families and individuals who earn 50% to 80% of the area’s median income.
• Manatee County Habitat for Humanity is using the funding to help build a house for a family in Bradenton. The home will also feature sustainable and energy efficient upgrades to reduce home maintenance costs.
Bank of America for years has teamed up with Habitat for Humanity and its local Sarasota-Manatee affiliates as part of a shared vision. With volunteer opportunities limited due to the health crisis, charitable grants and fundraising efforts are critical for Habitat and other local nonprofits to address issues such as affordable housing.
“Connecting people with the resources they need to achieve financial goals such as homeownership helps transform communities into thriving neighborhoods and fuels regional growth,” said Mike McCoy, president of Bank of America Sarasota-Manatee. “Yet, homeownership has become increasingly unattainable for areas where systemic, long-term gaps have existed. We are working with Habitat for Humanity to reverse that trend.”
In addition to providing an affordable mortgage, Habitat for Humanity partner families attend classes that prepare them for homeownership and teach valuable skills that help stabilize the neighborhoods. After classes are completed, Habitat continues to support those families with ongoing counseling.
To learn more and support these organizations and their efforts, visit habitatsrq.org, habitatsouthsarasota.org and manateehabitat.org.
Submitted by Katie Kiselewski
Source: heraldtribune.com
