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10/21/2014 - Wells Fargo Invests $100,000 to Assist Bridgeport Homeowners and East End Renovations

BRIDGEPORT, CT, October 21, 2014 - Bridgeport Neighborhood Trust is announcing today that it has received a $100,000 grant from Wells Fargo to continue its efforts of advancing Bridgeport neighborhoods and improving quality of life through affordable housing opportunities. Wells Fargo’s investment will allow Bridgeport Neighborhood Trust to further expand its homeownership counseling program and to support families in foreclosure.

 

“We’re committed to improving the communities we serve,” said Kent McClun, Wells Fargo Greater Connecticut Area President. “The Bridgeport Neighborhood Trust helps Bridgeport and its residents achieve sustainable and affordable housing, and we’re proud to partner with them in those efforts.”

 

Elizabeth Torres, Executive Director of Bridgeport Neighborhood Trust, will announce Wells Fargo’s investment today during the East End Neighborhood Revitalization Zones monthly neighborhood meeting. "Thanks to Wells Fargo’s generous donation, $70,000 is going towards renovation work on two BNT owned buildings located on 1755 Stratford avenue and 1841 Stratford Avenue" states Torres, "These renovations are part of the block by block stabilization initiative we are embarking on in the East End. The remaining $30,000 will go towards foreclosure prevention."

 

Over the past decade, Bridgeport Neighborhood Trust’s Homeownership Counseling has helped close to 2,000 families and individuals understand the home buying process and make appropriate financial decisions. Bridgeport Neighborhood Trust’s homeownership services include: monthly pre-purchase and foreclosure prevention counseling services.

 

About Wells Fargo:

Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.6 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 8,700 locations, 12,500 ATMs, and the internet (wellsfargo.com), and has offices in 36 countries to support customers who conduct business in the global economy. With approximately 265,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 29 on Fortune’s 2014 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially.

 

About Bridgeport Neighborhood Trust:

BNT’s mission is to LEAD, EMPOWER and CHANGE Bridgeport neighborhoods, improving quality of life through affordable housing opportunities. To meet this challenge, BNT develops and manages affordable housing, creates healthy homes with a focus on lead remediation and provides comprehensive homeownership for low and moderate income families.

 

BNT was incorporated in 1986 and provides an array of services in the Bridgeport community. Over the past eight years, BNT’s results include the development of 168 new scattered site affordable housing units (102 are under management). Currently it has an additional 11 units in construction and 231 units in pre-development. With regards to its programs, BNT has created 957 lead-safe apartments and helped more than 600 families achieve homeownership during this time period.