Neighborhood Renewal Receives $25,000 Bank of America Grant for Community Development

John C. Lincoln Desert Mission Neighborhood Renewal has been awarded a $25,000 grant from the Bank of America Charitable Foundation to support community development opportunities in the North Phoenix area.

"The economic recession has had a lasting effect on many, particularly veterans and low- to moderate-income families. This grant will assist in providing financial education and other support services to families as a first step toward long-term financial stability," said Bank of America Arizona President Benito Almanza. "It's part of our broader efforts to help improve the financial lives of our customers, clients and communities."

Desert Mission Neighborhood Renewal, 9201 N. Fifth St., Phoenix, is an affiliate of John C. Lincoln Health Network that was started by community and business leaders in 1993 as a grassroots effort to reduce crime and blight, foster the development of community stakeholders and improve residential and commercial structures.

The grant is one of 11 totaling $301,000 awarded to Phoenix-area nonprofit organizations.

"Bank of America has been a long time partner with Desert Mission Neighborhood Renewal," said John C. Lincoln Vice President Cindy Hallman, executive director of Desert Mission. "Their on-going commitment has allowed us to improve the quality of life for many families. These dollars help support DMNR efforts to educate and assist families that want to experience the American dream of home ownership."

In addition to more than $23 million in housing grants across the U.S., Bank of America addresses housing issues in a number of other ways including extending approximately $52 billion in mortgage loans in the first half of 2013 to more than 218,000 borrowers. Thirty-five percent of these loans have been made to low- to moderate-income individuals and families.

Additionally, through its Community Development Banking business, Bank of America Merrill Lynch provided more than $1.6 billion in financing and equity commitments in the first half of 2013, which will help create more than 6,500 affordable housing units.

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