U.S. Bank Commits $16-Million to Milwaukee Neighborhoods
August 12, 2011 | Read Time: 1 minute
U.S. Bank announced a $16-million pledge to a Milwaukee project to revitalize neighborhoods destabilized by the foreclosure crisis, the Journal Sentinel writes.
The bank is the fourth to commit resources to shoring up housing and homeownership in the city.
Bank of America, Deutsche Bank, and Wells Fargo have pledged a combined $15.2-million to Milwaukee Rising, an effort led by the community group Common Ground.
The U.S. Bank agreement, negotiated directly with the City of Milwaukee to aid its Neighborhood Stabilization Program, includes a $1-million fund to acquire and restore foreclosed properties and a promise of up to $15-million in mortgages for qualified borrowers over the next four years.
