Negocios Now

www.negociosnow.com 10 Diciembre 2022 T he Resurrection Pro- ject (TRP) and partners celebrate the annou- ncement of JPMorgan Chase's AdvancingCities Challen- ge, part of the firm's $500 million, five-year initiative to drive inclusi- ve growth and create greater eco- nomic opportunity in cities. TRP has been selected as one of two organizations in the Mid- west who earned this prestigious philanthropic investment. Led by TRP, a collaborative of Chicago organizations are recei- ving $7.2 million over three years to boost homeownership through innovative new modular home construction, financial products, and financial coaching in South and West side neighborhoods, including Back of the Yards, Nor- th Lawndale, and Chicago Lawn. "As a leader in building healthier communities, receiving this award is a great achievement for The Resurrection Project (TRP)" said Marisa Novara, Department of Housing Commissioner. "The investment by JPMorgan Chase in AdvancingCities in Chicago is a great testament to the City's lea- dership in community develop- ment. This City stands ready to work with TRP, its partners and Chase to rebuild communities through homeownership." The investment will support the collaborative's "Block by Block" initiative that will create and preserve over 150 affordable housing units, engage 3,000 par- ticipants in homebuyer prepara- tion, provide over $2.8 million in affordable mortgage and home improvement loans, and create and preserve $50 million in com- munity wealth for residents. Collaborating organizations are: Back of the Yards Neighborhood Council, Peace and Education Coalition of the Back of the Yards Neighborhood, Precious Blood Ministry of Reconciliation, Capital Good Fund, Lawndale Christian Development Corporation, and Southwest Organizing Project. "Structural barriers have strip- ped black and brown communi- ties of wealth and opportunity," says Raul Raymundo, CEO and Co-Founder of The Resurrec- tion Project. "Homeownership is a pathway for families to close the racial wealth gap. TRP and our coalition members are hono- red to receive the AdvancingCi- ties award, and to partner with JPMorgan Chase and the city in this critical work." "Access to safe and quality affor- dable housing is essential to thri- ving communities but is out of reach for too many Chicagoans," said Charlie Corrigan, Head of Mid- west Philanthropy, JPMorgan Cha- se. "This is the biggest philanthropic commitment in a single project that JPMorgan Chase has ever made in Chicago, and will contribute to our goal of advancing economic mobi- lity and helping address the racial wealth gap in the city." Together, we will strengthen recovery efforts in Chicago and address the needs of Black, Lati- no, and immigrant communities that have been disproportiona- tely affected by COVID-19 and decades of underinvestment. TRP and Partners Win Prestigious AdvancingCities $7.2 Million Award Investing in affordable housing for low-income residents has been a successful initiative of the Resurrection Project in its efforts to face the challenges of gentrification in our communities.

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