The Citi Foundation provides funding to local community development organisations in 20 urban communities across the country to help revitalize urban areas.
Citi will support innovative, physical development and rehabilitation projects – known as “place-based initiatives” – that champion the long-term or large scale revitalization of low- and moderate-income communities.
The Citi Foundation is offering the grants through the Citi Foundation Partners in Progress (PIP) Grant Program, an initiative started in 1997 aimed at helping community organizations implement physical development or revitalization of underserved areas. During 2009 the Citi Foundation is going to expand PIP from New York-based and regionally-based grants to a national program.
Through PIP, the Citi Foundation has awarded local community development organizations grants of $100,000, totaling more than $2 million. The grants will support pre-development costs for construction, rehabilitation and revitalization of affordable housing, commercial corridors, and retail and neighborhood facilities, such as childcare centers and community centers, in low- to moderate-income communities.
Of the 21 projects selected, more than half include environmental sustainability as a critical aspect of the initiative and one-third include transit-oriented developments.
“Citi is strongly committed to supporting the work of community development organizations, which play an important role in the growth of underserved communities, particularly in this difficult economic environment,” says Gina Doynow, national director, North America Community Relations, Citi. “That is why the Citi Foundation expanded our PIP grant program nationally to 21 truly ground-breaking revitalization projects we believe will help stabilize and transform urban areas nationwide.”
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