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Receives $200,000 Grant and Bank of America's 2006 Neighborhood Builders Award
West Palm Beach, FL. - December 6, 2006. Northwood Renaissance, Inc. is a nonprofit economic development organization dedicated to creating strong neighborhoods and homes within reach of low- and moderate-income working families. For its work in affordable housing, the community-based group received Bank of America's 2006 Neighborhood Builders Award at a luncheon ceremony held in their honor on December 1 at the Kravis Center.
In 2004, Bank of America Charitable Investments launched a two-year $15 million Neighborhood Excellence Initiative to recognize, nurture and reward organizations involved in helping to rebuild and revitalize their neighborhoods. Neighborhood Builders provides $200,000 in grant funding and leadership training over the course of two years to neighborhood nonprofit organizations working to promote vibrant communities. The combination of operating support and leadership training helps strengthen the capacity of the selected organization and promotes the professional development of their leaders.
Northwood Renaissance recently expanded its housing development efforts to include the greater West Palm Beach area in response to the region's lack of affordable housing. Their approach to neighborhood revitalization is comprehensive and based upon sound urban planning principals. They work with community stake holders to solve neighborhood planning issues, renovate troubled properties, create workforce housing opportunities, encourage business development and bring about positive neighborhood changes. Northwood Renaissance will use their grant to build capacity to undertake larger scale affordable housing development and subsequently reinvest retained revenue back into the community in the form of needed affordable housing.