Bank of America will give $425,000 in economic mobility grants to 18 nonprofits working on community revitalization efforts across Orange County.
Nonprofits were chosen for their efforts to provide solutions to housing and poverty while adding resources for self-sufficiency, building urban gardens and arts and cultural programming.
According to the Orange County Business Council’s 2017 Community Indicators Report, $27.62 is the minimum hourly wage needed to afford a median-priced one-bedroom rental unit in Orange County, yet 68 percent of local jobs don’t pay this much. Disparities in housing accessibility can inhibit economic growth and small business development, and can further marginalize low-income families and the nearly 5,000 homeless people living in Orange County.
One of the nonprofits receiving a grant is Jamboree Housing, which develops affordable housing in low- to moderate-income communities.
“Bank of America’s partnership will help Jamboree expand our strategy for assessing community impact with more focused tools that measure goals and outcomes for our programs and services,” said George Searcy, Senior Vice President of Community Impact at Jamboree Housing.
Bank of America is also partnering with nonprofits like the Kennedy Commission in Irvine. The nonprofit’s advocacy and education efforts work toward systemic change to alleviate the affordable housing deficit in Orange County.
“Creating affordable housing opportunities in one of the nation’s highest housing cost areas continues to be a challenge. Through our education, advocacy and community engagement, we will continue our efforts to ensure that low-income families have a place to call home in Orange County,” said Cesar Covarrubias, executive director for the Kennedy Commission.
Other organizations receiving grants include: Art-A-Fair Foundation, Discovery Science Center of Orange County, Festival of Arts Laguna Beach, Latino Center for Prevention & Action in Health &…