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Wells Fargo invests $1.1M in Trenton neighborhood revitalization

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Wells Fargo announced Thursday that it plans to invest more than $1.1 million in grants to provide funding toward various Trenton neighborhood revitalization programs.

The bank is partnering with civic nonprofits Isles Inc., Mercer Street Friends, Shiloh Community Development Corporation and City Works to help provide funding for the various city projects.

“Whether it is housing, job training, recreation or education, Wells Fargo is committed to Trenton, and we’re here to provide financial and volunteer support for projects throughout the city,” Brenda Ross-Dulan, southern New Jersey regional president for Wells Fargo, said in a statement. “Wells Fargo is excited by the opportunities these grants will bring to the people of Trenton.”

Wells Fargo said it give $900,000 through the state’s Neighborhood Revitalization Tax Credit program to support revitalization efforts in the Trenton Historic Development Collaborative.

An additional $80,000 from Wells Fargo Housing Foundation will go toward the redevelopment of the Stockton Street Apartments in the city’s Old Trenton neighborhood. 

And $150,000 from Wells Fargo Regional Foundation will be given to CityWorks to help the nonprofit continue its efforts in East Trenton.

“The support Wells Fargo is providing to the city of Trenton will help us to usher in a new wave of sustainability,” Trenton Mayor Eric Jackson said in a statement.  “I’m optimistic about the projects Isles and CityWorks have in place and am very grateful that Wells Fargo has chosen to make the people and places of Trenton a priority.”

The grants will support the work of THDC, a group of more than 20 neighborhood organizations, businesses and residents who are committed to revitalizing Trenton.  Spearheaded by Isles Inc., the THDC targets the areas from Willow Street to Hermitage Avenue, and from Rutherford Avenue to West State Street.

“The support Wells Fargo is providing to three major neighborhood revitalization efforts across the city is invaluable,” Julia Taylor, managing director for community planning & development at Isles Inc., said in a statement.  “The funding allows Isles and its collaborators to respond directly to resident and stakeholder priorities through plan implementation.” 

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Emily Bader

Emily Bader

Emily Bader is the copy and web editor at NJBIZ. She is a Brielle, N.J. native and a Rutgers University alum. You can contact her at emilyb@njbiz.com or @emilybader on Twitter.

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