The grant will fund the development of financial tools, strategies, and expertise aimed at supporting affordable housing projects in Atlanta, Baltimore, Chicago, Cleveland, Denver, Detroit, Los Angeles, New Orleans, New York, San Francisco, Seattle, and Washington, D.C. In Detroit, for example, the organization will work with city and community leaders to establish inclusionary zoning ordinances and ensure the availability of affordable homes in areas of heightened economic development, while in New York, new Ready-to-Respond tools for resilience will help community development organizations protect their properties against disaster.
The funds also will support Enterprise’s efforts to build the capacity of local community development organizations; advocate for improved policies at the federal, state, and local levels; and share best practices for driving resources to communities and expand partnerships through knowledge sharing.
"When we help struggling neighborhoods overcome complex challenges, they begin to thrive, providing more people with the opportunity to reach their full potential," said Enterprise Community Partners president and CEO Terri Ludwig. "Thanks to the strong support of Bank of America, we’re better equipped to strengthen communities and serve the needs of low-income families through well-designed homes made affordable and connected to resources like good schools, jobs, transit, and health care."