Housing network receives $100,000 Wells Fargo grant

The Affordable Housing Network in Cedar Rapids has been awarded a $100,000 grant from a Wells Fargo initiative to help stabilize and revitalize neighborhoods.

The funds will be used to help restore a core neighborhood in the city that was hard hit by the 2008 flood. It will help support six homes with a variety of rehabilitation and new construction.

Funds also will be used for youth programs and summer cleanups, as well as programs that provide support to new homeowners. AHNI is the fiscal agent for the initiative.

The Affordable Housing Network is one of 52 non-profits and government entities to receive awards from Wells Fargo's Leading the Way Home Program Priority Markets Initiative.

Affordable Housing Network includes the Cedar Valley Habitat for Humanity, City of Cedar Rapids Community Development Department, Horizons, Matthew 25 Ministry Hub and the Neighborhood Development Corporation.

“We are fortunate that Wells Fargo identified Cedar Rapids as a priority market and has chosen to invest in our efforts to rebuild our neighborhoods,” said Joe Lock, executive director of the Affordable Housing Network, in prepared remarks.

Lock said the collaboration between the six non-profits, the City of Cedar Rapids and Wells Fargo employees will enable the $100,000 grant to be leveraged to create homeownership for people who have been unable to accomplish that goal.

Wells Fargo employees will commit volunteer hours as part of the neighborhood restoration effort.

"Working together, we can help this community continue to recover from the devastation of the flood of 2008,” said John Dorfler, market president for Wells Fargo in Cedar Rapids. “Our combined efforts will allow us to help six families achieve their dreams of homeownership and help a neighborhood rebuild.”