PROVIDENCE – A total of $300,000 in federal funding in community development grants for three NeighborWorks America affiliates was announced by U.S. Sen. Jack F. Reed Wednesday.
“NeighborWorks has a proven track record of revitalizing neighborhoods and increasing community involvement, and these federal funds will help to strengthen our communities, improve access to affordable housing and spur economic development,” said Reed.
Both NeighborWorks Blackstone River Valley and ONE Neighborhood Builders will receive $100,000 each in portfolio-strengthening grants in order to improve their respective enterprises by optimizing revenues and expenses, improving asset values and driving better underwriting for future deals.
NeighborWorks Blackstone River Valley will receive $50,000 from NeighborWorks’ Strategic Investment Fund to partake in “The Millrace Initiative,” a community development project designed to strengthen the community and the organization through a variety of economic development, housing, entrepreneurship, creative place-making and earned-income activities.
West Elmwood Housing Development Corp. will receive $50,000 from NeighborWorks’ SIF in order to make internal and external improvements to the Sankofa Health and Wellness Center, including renovation of the health and wellness center and the construction of an on-site café.
NeighborWorks is a Congressionally-chartered nonprofit that supports nearly 250 nonprofit organizations in the country. Fiscal year to date, over $1 million in federal NeighborWorks funding has been announced for Rhode Island NeighborWorks affiliates.
