Ally’s grant will support affordable housing development and grants for small businesses in SNF neighborhoods. The grant is part of Ally’s charitable efforts in Detroit that focus on economic mobility by promoting affordable housing, financial education, and workforce development.
“Affordable housing is a pressing need both locally and nationally, and empowering small businesses through Spark Grants is essential for fostering vibrant communities,” said Kathie Patterson, the incoming chair of the Ally Charitable Foundation. “We are committed to advancing the progress SNF has initiated and promoting inclusive economic mobility for our hometown, in collaboration with the City of Detroit and Invest Detroit.”
How The Grant Improves Quality of Life in Detroit Neighborhoods
Through SNF, residents in each neighborhood go through a yearlong planning process to shape the implementation of streetscapes, commercial corridors, and parks. Work through the SNF helps to reduce displacement with the help of residents. The goal is to improve the quality of life in neighborhoods for people who already live there.
“Creating more affordable housing across Detroit has been a major focus of my administration and City Council. Ally’s generous support for the Strategic Neighborhood Fund will help us accomplish that,” said Detroit Mayor Mike Duggan. “The SNF strategy has been incredibly effective in driving new investment into our neighborhoods, and I encourage other civic-minded companies to join Ally in supporting this important work.”
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Source: Black Enterprise
