IE Business Daily Business news for the Inland Empire.
Bank of America has donated $207,500 that will be distributed among 20 Inland Empire nonprofits that are working to bring more affordable housing to the region.
The grants, which will range from $50,000 to $2,500 depending on need, will also be used to upgrade neighborhoods in Riverside and San Bernardino counties, according to a statement released Monday by the Bank of American Charitable Foundation.
The Coachella Valley Housing Coalition, the Fair Housing Council of Riverside County Inc., the Neighborhood Housing Services of the Inland Empire Inc. and Habitat for Humanity Riverside are among the groups that will receive grants.
Habitat for Humanity Riverside will use its donation to build 26 single-family homes on a long-vacant site in Jurupa Valley. Those houses will be made available to low-income veterans and their families.
Community development and revitalization will make the Inland Empire a more attractive place to live, which will lead to more economic growth, said Al Arguello, Inland Empire market president for Bank of America, in the statement.
Last year, the foundation gave more than $1 million in grants to Inland Empire nonprofits, and local Bank of America employees spent more than 11,800 hours doing volunteer work in the region, according to the statement.
