Bank donates 2,000 homes to Habitat
Bank of America donated up to 2,000 vacant properties to Habitat for Humanity this week.
It is the largest one-time commitment of property donations that Habitat for Humanity has received from the Charlotte-based bank.
"These donations can make a dramatic difference for so many Habitat affiliates, increasing their suitable property inventory," Jonathan Reckford, CEO of Habitat for Humanity International, said in a statement. "Habitat can repair and rehabilitate vacant houses where appropriate and build new houses where necessary, partnering with low-income families in need of affordable housing. Neighborhoods will be healthier, families will be able to build on a strong foundation of stable homes and entire communities will benefit from inviting and thriving places to live."
Talia Moffitt, a media specialist with Habitat for Humanity International, confirmed that Union County's Habitat for Humanity will not be receiving any of the properties.
While Mike Reece, executive director of Union Habitat, was aware that they would not be receiving any of the properties, he admired the donation.
"I think it's a wonderful opportunity because it's a shame that those houses are sitting empty and not able to serve a need," Reece said. "So rather than having them become unsightly, derelict properties, it's a wonderful opportunity for Bank of American and Habitat (for Humanity) to partner and provide homes."
Reece also appreciated the work Bank of America does with veterans.
"I would love to partner with Bank of America in our local area," Reece said.
The 2,000 donated properties will be given over the next three years.
"Habitat and Bank of America share a mission of providing families in need of affordable shelter with the opportunity to enjoy the benefits of home ownership," D. Steve Boland, national mortgage outreach executive for Bank of America, said in a statement. "This initiative makes affordable homes available in partnership with the families at the same time that it combats neighborhood blight that may occur around vacant properties and it helps to stabilize and revitalize communities."
The bank's charitable foundation also awarded grants totaling $3 million throughout 2012.