The Bridgeport Neighborhood Trust has received a $100,000 grant from the Wells Fargo Foundation.
The money will go toward BNT”™s affordable housing initiative in the East End of Bridgeport, including pre-purchase homeownership counseling and foreclosure prevention.
“We”™re committed to improving the communities we serve,” said Kent McClun, Wells Fargo”™s 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 the neighborhood trust, made the announcement.
“Thanks to Wells Fargo”™s generous donation, $70,000 is going towards renovation work on two BNT owned buildings located on 1755 Stratford Ave. and 1841 Stratford Ave.,” Torres said. “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 by offering grants to help existing homeowners come current on their mortgages.”
Over the past decade, BNT”™s homeownership counseling has helped nearly 2,000 families and individuals understand the homebuying process and make appropriate financial decisions, BNT reported.
BNT was incorporated in 1986. In the last eight years, BNT reported, its 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.
