Wells Fargo grants $800,000 to six Tampa nonprofits to help stabilize local neighborhoods - Rebuilding Together Tampa Bay, Tampa Bay Black Business Investment Corporation, Volunteers of America, Keep Tampa Bay Beautiful, USF Small Business Developmen

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Wells Fargo & Company (NYSE: WFC), one of America's leading community banks and the nation's largest home mortgage lender, today announced donations totaling $800,000 to six Tampa-based nonprofits to help further the local recovery of neighborhoods deeply affected by the housing crisis. The grants are part of the $7 million commitment to provide down payment assistance grants, homebuyer support programs and local initiatives in Tampa to help consumers achieve successful, sustainable home ownership.

The local grant recipients were identified in close collaboration with the City of Tampa and Mayor Bob Buckhorn to assist the city in five key areas: Transitional and permanent supported housing, shelter and support services for the homeless; homeownership, affordable housing construction, rehabilitation, and counseling for low- and moderate-income residents; neighborhood beautification and improvement; workforce development programs; and small and micro-business assistance.

The grants awarded to local nonprofits today include:

Rebuilding Building Together Tampa Bay, $300,000
Tampa Bay Black Business Investment Corp., $175,000
Volunteers of America, $150,000
Keep Tampa Bay Beautiful, $75,000
USF Small Business Development Center, $50,000
MacDonald Training Center, $50,000

The grants are funded through the company’s NeighborhoodLIFTSM program announced last June, an innovative effort created to help stabilize neighborhoods and help people buy homes by making properties more affordable with down payment assistance available for eligible prospective buyers.

"The grants will help stabilize local Tampa neighborhoods that have been deeply affected by the housing crisis," said Carl Miller, Wells Fargo's Regional President. "These nonprofits are actively leading efforts to help stabilize neighborhoods, and based on the input we received from the city, we believe it appropriate to further support them with the NeighborhoodLIFTSM program local initiatives funds."

In addition to the local grants, the NeighborhoodLIFTSM program is helping further the nation’s housing recovery by providing down payment assistance to help more local families achieve successful, sustainable homeownership. In Tampa, funds are still available for down payment assistance grants for local eligible homebuyers.

To qualify for down payment assistance that may be applied to mortgage purchase loans with any approved lender, applicants must meet certain criteria including annual income not exceeding 120 percent of the median income (for Tampa, not to exceed $67,700 for a family of four; income maximums vary depending on family size).

How to apply for NeighborhoodLIFT SM program down payment assistance in Tampa
Interested homebuyers can learn more about eligibility for the NeighborhoodLIFT SM program at www.neighborhoodlift.org or by contacting the Tampa Bay Community Development Corporation at 813-849-1121.

About NeighborhoodLIFT SM
The NeighborhoodLIFT SM program is collaboration between Wells Fargo Bank, N.A., the Wells Fargo Foundation, NeighborWorks America, an independent non-profit organization, and local non-profit organizations. The NeighborhoodLIFT SM program is designed to provide sustainable homeownership initiatives in cities deeply affected by the housing crisis. A video about the NeighborhoodLIFT program is posted at www.youtube.com/wellsfargo.

About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.4 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 has offices in more than 35 countries to support the bank's customers who conduct business in the global economy. With approximately 265,000 full-time equivalent team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 26 on Fortune's 2012 rankings of America's largest corporations. Wells Fargo’s vision is to satisfy all our customers' financial needs and help them succeed financially.