Santander awards $1.3 million in grants to help Providence neighborhoods

SANTANDER AWARDS $1.3 MILLION IN GRANTS TO SUPPORT PROVIDENCE LOW, MODERATE INCOME NEIGHBORHOODS

PROVIDENCE, RI
- Santander Bank, N.A. and the City of Providence are pleased to announce that Santander Bank has committed a total of $1.3 million in grants to support low- and moderate-income neighborhoods in the City of Providence. The grants are to be awarded to three organizations:

•             $350,000 to the Providence Community Library to support programs in low- and moderate-income neighborhoods, with special focus on financial literacy and homeownership;
•             $450,000 to AS220, a non-profit community arts center, to support the development of its mixed-use gateway project to be located at 204-206 Broad Street in Providence; and 
•             $500,000 to Rhode Island Local Initiatives Support Corporation to establish and administer a new program to award grants to help cover mortgage down payments and closing costs for low- and moderate-income residents in the City of Providence.      

The grants are expected to be finalized before the end of the year.  Details concerning the Rhode Island LISC grants are expected to be published within a few weeks and the first grants are expected to be awarded in the first quarter of 2015. 

Santander Bank and the City of Providence look forward to working together as partners to strengthen the community. 

(release from City of Providence)