CIT Media Contact: Olivia Weiss
NPHS Media Contact: Greg O’Donnell
For Immediate Release
September 27th, 2018
NEIGHBORHOOD PARTNERSHIP HOUSING SERVICES RECEIVES $150,000 GRANT FROM CIT
BANK TO SUPPORT SUSTAINABLE COMMUNITIES CATALYST PROJECT
RANCHO CUCAMONGA, CA – Neighborhood Partnership Housing Services, Inc. (NPHS) was recently awarded a $150,000 grant funded by CITBank N.A., whichdoes business inSouthern CaliforniaasOneWest Bank. The grant supports NPHS’ Sustainable Communities Catalyst Project, a comprehensive neighborhood revitalization and holistic financial education effort aimed at addressing the needs of low-to-moderate income families and creating sustainable communities throughout the Inland Empire.
The program utilizes 6 innovative core strategies for stabilizing communities: Neighborhood Revitalization, Owner-Occupied Rehabilitation, Homeownership Creation and Preservation, Homeownership Finance, and Financial Education training. These core strategies work together to revitalize distressed neighborhoods, prevent blight, promote sustainable homeownership at a regional scale, while implementing green building practices.
One of the most innovative features of the Project is the vast continuum of housing programs and services that will be offered to residents of targeted communities. In the true spirit of community and economic development, the Sustainable Communities Catalyst Project has an emphasis on people, place, programs and products to bring about neighborhood stabilization and revitalization. NPHS recognizes that the mere focus on just one or a few of these focus areas cannot bring about long-term sustainable communities. The wide spectrum of programs, products and services offered through the Project allows residents in any phase of their financial life to benefit and improve their economic status.
In order to effectively address the needs of Inland Empire communities and its low-to-moderate income residents, a multi-pronged approach is necessary for maximum impact. NPHS is only able to accomplish this through the support from partners like CITBank. Through the Sustainable Communities Catalyst Project, Inland Empire residents can gain access to affordable housing, owner-occupied home repairs, down payment assistance, affordable solar panel systems and comprehensive homeownership education and counseling. To learn more about these programs call NPHS at 909-988-5979 or visit www.nphsinc.org.
“NPHS has a strong partnership with CITBank, and this recent grant will allow us to continue revitalizing neighborhoods and creating affordable homeownership opportunities for low-to-moderate income families throughout the Inland Empire,” said Clemente A. Mojica, President and CEO of NPHS. “Hundreds of families will be impacted from this investment and NPHS is excited to work alongside CIT Bank to bring real change to our region.”
“CIT Bank is committed to supporting the regional community where we live and work,” said Steve Solk, president of Consumer Banking for CIT. “We are pleased to partner with NPHS to provide vital services such as financial education and down-payment assistance in an effort to build stronger, more sustainable neighborhoods across Southern California.”
About Neighborhood Partnership Housing Services (NPHS)
NPHS is a local nonprofit community development organization part of the Neighborworks® Network which is dedicated to creating innovative housing and economic solutions that advance the well-being of people, vitality of neighborhoods, creation of jobs and sustainability of the environment. NPHS accomplishes its mission through neighborhood redevelopment, realty services, community lending and community wealth building. Visit www.nphsinc.orgfor further information.
Founded in 1908, CIT (NYSE: CIT) is a financial holding company with approximately $50 billion in assets as of June 30, 2018. Its principal bank subsidiary, CIT Bank, N.A., (Member FDIC, Equal Housing Lender) has approximately $30 billion of deposits and more than $40 billion of assets. CIT provides financing, leasing, and advisory services principally to middle-market companies and small businesses across a wide variety of industries. It also offers products and services to consumers through its Internet bank franchise and a network of retail branches in Southern California, operating as OneWest Bank, a division of CIT Bank, N.A. For more information visit cit.com and follow us on Twitter, LinkedIn, YouTube and Facebook. Register to receive press releases at cit.mediaroom.com/email-alerts.
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