September 24, 2012 at 10:35 AM EDT
Wells Fargo, Mayor Gray and County Executive Baker to Announce CityLIFTSM – A New Initiative Designed to Boost Homeownership

Wells Fargo:

WHO:

Vincent C Gray, Mayor of District of Columbia

Rushern L. Baker, III, Prince George’s County Executive

Mike Golden, Greater Washington, D.C. Region President, Wells Fargo

Andy Bertamini, Maryland Region President, Wells Fargo

Michael L. Forster, Chief Financial Officer, NeighborWorks America

Reverend Jim Dickerson, Founder and Chair of Manna, Inc.

WHEN:

Wednesday, September 26, 2012

10:00 a.m.

WHERE:

400 Eastern Avenue, NE

Washington, D.C.

WHAT:

To announce $7 million in down payment assistance grants for Washington, D.C. and Prince George’s County, MD through the CityLIFTSM program – an initiative to help revitalize neighborhoods through an innovative sustainable housing program that will provide prospective homebuyers with an opportunity to see if they qualify for down payment assistance of $20,000.

The CityLIFTSM program will include a two-day event that will take place October 5 and 6 at the Walter E. Washington Convention Center where prospective homebuyers may qualify for $20,000 in down payment assistance. Prospective homebuyers are encouraged to register to attend the event at www.wellsfargo.com/citylift; walk-ins are also welcome.

In addition, prospective home buyers will be able to take advantage of home buyer education sessions and tours of selected residential properties that are available for sale in DC and Prince George’s County Maryland.

Wells Fargo will collaborate with the Mayor of DC, County Executive of Prince George’s County and the non-profit organization NeighborWorks America and its local affiliate, Manna, to execute the program.

The CityLIFTSM program is modeled after Wells Fargo’s highly successful NeighborhoodLIFTSM program, the first of its kind in the banking industry. The NeighborhoodLIFTSM program is a collaboration between the Wells Fargo Foundation, Neighborworks America, an independent non-profit organization, and local non-profit organizations.

The CityLIFTSM program is designed to provide down payment assistance and homebuyer education programs in areas most impacted by the financial crisis. The program was developed in response to the 2012 settlement with the Civil Rights Division of the U.S. Department of Justice, and is a collaboration between Wells Fargo Bank N.A. and Neighborworks America.

COVERAGE INVITED.

Contacts:

Wells Fargo
Michael McCoy, 202-303-3029
or
District of Columbia
Jose Sousa, 202-340-6318
or
Prince George’s County Maryland
Christy Lipscomb, 301-952-4672
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