ATLANTA, Dec. 14, 2021 /PRNewswire-PRWeb/ -- The PNC Foundation announced a $750,000 grant to Westside Future Fund (WFF) to support the nonprofit's mission of investing in affordable housing and Black entrepreneurs on Atlanta's Historic Westside.
WFF's flagship program, Home on the Westside, is designed to drive equitable and inclusive community retention on the Historic Westside through access to safe, quality housing that is attainable for all residents, whether they rent or buy. The PNC Foundation's three-year grant will help provide down payment assistance for homebuyers in the community and underwrite the cost to redevelop six multifamily properties owned by WFF. As part Home on the Westside efforts to provide more affordable housing options while fostering a renewed sense of community, WFF hopes to have the six renovated properties ready for residents within the next year.
"One of the most significant barriers to housing affordability in Atlanta is the lack of tax abatements for longtime, lower-income homeowners who often face higher property taxes as investments pour into Westside neighborhoods. By working with WFF, PNC is providing a pipeline of much-needed capital to support housing affordability for current residents, eliminate displacement for future renters and homebuyers, and encourage small business development in impacted communities," said Eddie Meyers, PNC regional president for Greater Georgia.
PNC Foundation's donation also will help Westside's Black business owners achieve success while remaining a vital part of the local economy. WFF will partner with both the Russell Innovation Center for Entrepreneurs and the Village Micro Fund to deliver low-cost/no-cost capital to Black-owned businesses and microbusinesses, with awards ranging from $25,000 to $75,000. The Program Related Investment (PRI) grant recipients will be announced in January 2022.
A series of ongoing employee volunteer opportunities will further enhance PNC's commitment to help create a better future for Atlanta's Historic Westside. PNC's latest grant to WFF is part of a broader commitment of more than $1 billion PNC has made to help end systemic racism and support economic empowerment of African Americans and low- and moderate-income communities.
"Atlanta's Historic Westside residents and business owners have long been denied place-based equity and economic mobility," said John Ahmann, president and chief executive officer of the Westside Future Fund. "However, with intentional action supported by resources from organizations like PNC, we are making a measurable impact on racial equity by delivering safe, quality, affordable housing and economic opportunities in a crucial area of our city where 52% of residents live below the poverty line."
About PNC Foundation
The PNC Foundation, which receives its principal funding from The PNC Financial Services Group, actively supports organizations that provide services for the benefit of communities in which it has a significant presence. The foundation focuses its philanthropic mission on early childhood education and community and economic development, which includes the arts and culture. Through Grow Up Great, its signature cause that began in 2004, PNC has created a bilingual $500 million, multi-year initiative to help prepare children from birth to age 5 for success in school and life.
About Westside Future Fund
Westside Future Fund (WFF) is a nonprofit formed by Atlanta's public, private and philanthropic partners who believe in the future of Atlanta's Westside and are committed to helping Historic Westside neighborhoods revitalize and develop into a community Dr. King would be proud to call home. WFF serves as a "community quarterback" organization for the holistic redevelopment of English Avenue, Vine City, Ashview Heights, Atlanta University Center, Just Us and the Booker T. Washington neighborhoods. In collaboration with residents, community leaders, and a wide variety of public and private partners, WFF is driving change by focusing on four impact areas: mixed-income communities; cradle-to-career education; community health and wellness; and safety and security. Grounded in a compassionate approach to revitalization aimed at community retention, the organization is focused on creating a diverse mixed-income community, improving quality of life, and elevating and celebrating the Historic Westside's unique history and culture. For information about WFF, visit http://www.westsidefuturefund.org.
Media Contact
Cristel Williams, Westside Future Fund, 404.793.2676, [email protected]
SOURCE Westside Future Fund
Share this article