$5M will help provide grants to first-time home buyers in Philly; Mayor Parker launches H.O.M.E. initiative
The Brief
Mayor Cherelle L. Parker signed an order to launch the Philadelphia Housing Opportunities Made Easy (H.O.M.E.) Initiative to preview areas that need investments for housing.
Wells Fargo Bank issued a $5 million check in its plan to return the NeighborhoodLIFT program to Philadelphia.
The money will be cut into $15 thousand grants that will go to first-time home buyers.
PHILADELPHIA - It was housing day for the Parker administration as the mayor moved on her pledge to build tens of thousands of affordable housing units for city residents.
What we know
It was smiles all around in Philadelphia Wednesday as Mayor Parker posed with a 5-million dollar check from Wells Fargo Bank. It's a down payment of sorts on the mayor's pet project, affordable housing.
Speaking to residents seeking to buy their first homes, Parker said, "you attach a 5-million-dollar, substantive investment and that's Wells Fargo not just talking the talk but walking the walk."
The big check comes tied to the bank's plan to return its NeighborhoodLIFT program to Philadelphia, an effort to help residents buy their first homes.
The $5 million will be chopped into $15,000 grants to help first time buyers turn the key on their homes as housing prices soar and housing stock is limited.
Housing is high stakes for Cherelle Parker. She campaigned on a pledge to build 30,000 units of affordable housing in her first term.
She's since tweaked the plan to include "restore and rehabilitate" to that 30,000.
On Wednesday, Parker moved in that direction as she formed an advisory group to offer ideas on streamlining housing plans through government approval.
She also introduced Angela Brooks, recently of Illinois, as her new housing czar as the mayor works on her big promise.
What they're saying
Darlene Goins leads the Wells Fargo Foundation.
She spoke to the gathering at The Enterprise Center.
"We're all here today because we want to help people get access to homeownership, to build generational wealth and to help the neighborhoods of Philadelphia," said Goins.
"We want a streamlined approach so we can get shovels in the ground and the workforce development and apprentice training programs trained by the building trades," said Parker
The Source
The information i this story is from the city of Philadelphia and its officials.
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