Habitat for Humanity Receiving Bank of America Property Donations to Help Affiliates Serve Low-Income Families and Communities

  Habitat for Humanity Receiving Bank of America Property Donations to Help
  Affiliates Serve Low-Income Families and Communities

    New alliance aims to provide up to 2,000 properties for renovation or
         construction of affordable homes, stabilizing neighborhoods

Business Wire

ATLANTA -- December 11, 2012

Habitat for Humanity has received its largest one-time commitment of property
donations from Bank of America, which will donate up to 2,000 vacant
properties for renovation or reconstruction over the next three years. The
donations will substantially support Habitat’s efforts to create affordable
housing in partnership with low-income families in need of decent, affordable
homes.

“The donation of these properties by Bank of America is a tremendous boost to
our efforts to revitalize distressed communities all across the country,” said
Jonathan Reckford, CEO of Habitat for Humanity International.

“These donations can make a dramatic difference for so many Habitat
affiliates, increasing their suitable property inventory. Habitat can repair
and rehabilitate vacant houses where appropriate, and build new houses where
necessary, partnering with low-income families in need of affordable housing.
Neighborhoods will be healthier, families will be able to build on a strong
foundation of stable homes, and entire communities will benefit from inviting
and thriving places to live,” said Reckford.

“Habitat and Bank of America share a mission of providing families in need of
affordable shelter with the opportunity to enjoy the benefits of
homeownership,” said D. Steve Boland, national mortgage outreach executive for
Bank of America. “This initiative makes affordable homes available in
partnership with the families, at the same time that it combats neighborhood
blight that may occur around vacant properties and helps to stabilize and
revitalize communities.

“Through our Foundation, Bank of America has been a financial supporter of
Habitat’s mission for 25 years, and this effort builds on that legacy and
takes our partnership to another level,” Boland added.

In addition to the property donation program through Bank of America Home
Loans, this year the Bank of America Charitable Foundation made grants
totaling $22 million to nonprofits that support housing needs nationwide,
including $3 million to Habitat for Humanity International and its affiliates.
Since 2002, the Foundation has contributed more than $22 million to Habitat’s
work around the world, and bank employees annually contribute more than 30,000
volunteer hours to help rehabilitate and build homes.

Under the new strategic alliance, Habitat will turn up to 2,000 Bank of
America donations of low-value and of-value distressed properties – vacant
single-family residences or lots – into affordable housing. If existing
structures need to be cleared from low-value properties to make way for
construction of new houses, Bank of America also will contribute to the costs
of demolition.

In North Fort Myers, Fla., Habitat for Humanity of Lee and Hendry Counties
recently approved a budget that would allow the affiliate to partner with 38
low-income families in the current fiscal year. However, through the property
donation program, the affiliate has accepted eight properties in the
communities of Cape Coral, Lehigh and Bonita Springs, increasing its capacity
to serve families by more than 20 percent in the 2013 fiscal year.

“This program is a tremendous boost for us,” said Kitty Green, president and
CEO, Habitat for Humanity of Lee and Hendry Counties, Inc. “Bank of America’s
partnership with Habitat is allowing us to serve more of the many low-income
families in need of affordable housing in our market. The donated properties
are great houses we can rehab in partnership with Habitat families and that
those families will be thrilled to own.”

The effects can be even greater on affiliates such as Habitat for Humanity -
DeKalb County, Georgia. The affiliate expected to serve three family partners
this year, but with four property donations accepted and more donations
possible, the affiliate may partner with up to 10 low-income families in its
service area.

“We are very excited to be a part of this program with Bank of America,” said
Eric Larson, board president for Habitat for Humanity – DeKalb. “Our affiliate
will celebrate its 25-year anniversary this year, and we believe this program
will allow us to serve more than twice as many low-income families in DeKalb
County as previously anticipated, as well as support our efforts to revitalize
neighborhoods.”

A portion of the properties donated by Bank of America will be included in the
bank’s recent commitment to make up to 1,000 properties available to
non-profit organizations providing housing opportunities for military
veterans, and others will be targeted to provide relief for families affected
by disasters.

Habitat selects homebuyers based on the need for affordable housing, a
willingness to partner with Habitat by investing “sweat-equity” labor in the
construction or renovation of their houses and the ability to repay no-profit
mortgages.

About Habitat for Humanity International

Habitat for Humanity International is a global nonprofit Christian housing
organization that seeks to put God’s love into action by bringing people
together to build homes, communities and hope. Since 1976, Habitat has served
more than 600,000 families by welcoming people of all races, religions and
nationalities to construct, rehabilitate or preserve homes; by advocating for
fair and just housing policies; and by providing training and access to
resources to help families improve their shelter conditions. For more
information, to donate or to volunteer, please visit www.habitat.org, or
follow us at www.facebook.com/habitat or at www.twitter.com/habitat_org or
join Habitat’s blog community at www.habitat.org/blog.

About Bank of America Corporate Social Responsibility

Bank of America’s commitment to corporate social responsibility (CSR) is a
strategic part of doing business globally. Our CSR efforts guide how we
operate in a socially, economically, financially and environmentally
responsible way around the world, to deliver for shareholders, customers,
clients and employees. Our goal is to help create economically vibrant regions
and communities through lending, investing and giving. By partnering with our
stakeholders, we create value that empowers individuals and communities to
thrive and contributes to the long-term success of our business. We have
several core areas of focus for our CSR, including responsible business
practices; environmental sustainability; strengthening local communities with
a focus on housing, hunger and jobs; investing in global leadership
development; and engaging through arts and culture. As part of these efforts,
employee volunteers across the company contribute their time, passion and
expertise to address issues in communities where they live and work. Learn
more at www.bankofamerica.com/about and follow us on Twitter at
@BofA_Community.

For more Bank of America news, visit the Bank of America newsroom.

Contact:

Habitat for Humanity International
Tami Griffin, 404-420-6789
Newsroom@habitat.org
or
Bank of America
Rick Simon, 800-796-8448
Rick.simon@bankofamerica.com
 
Press spacebar to pause and continue. Press esc to stop.