Enterprise Community Partners Selected by Citi Foundation’s Community Progress Makers Fund to Accelerate Economic Opportunity in Oakland
The $500,000 Investment in core operating support will enable Enterprise in Northern California to prevent resident displacement in Oakland and to preserve the city's cultural and economic diversity
SAN FRANCISCO (April 26, 2018) – The Citi Foundation announced that Enterprise Community Partners (Enterprise) in Northern California was selected as the recipient of a $500,000 grant as part of the 2018 Community Progress Makers Fund. The Fund is a $20 million, two-year initiative by the Citi Foundation to support high-impact community organizations that are driving economic opportunities in our communities by bringing together residents, nonprofits, businesses, and municipal agencies. Enterprise joins a group of 40 change agents who are playing a key role in coordinating the efforts of multiple partners toward common goals and working in new ways to address urban challenges in Chicago, Los Angeles, Miami, New York City, San Francisco Bay Area, and Washington D.C.
With Citi's support, Enterprise will
- Preserve Oakland’s cultural and economic diversity by preventing displacement of low- and moderate-income residents through the preservation of existing market-affordable homes
- Advance affordable housing development on public land sites identified in Oakland
- Provide technical assistance to public agencies and nonprofit developer teams applying for the Affordable Housing and Sustainable Communities grant program overseen by California’s Strategic Growth Council
“We launched this program in 2015 as our version of ‘venture philanthropy’ – a chance to invest in the vision and mission of these organizations who are helping positively transform their communities,” said Brandee McHale, president, Citi Foundation. “We’re pleased with the results from our inaugural Community Progress Makers and are looking forward to implementing the lessons we’ve learned with this next, impressive group of community leaders as they scale, innovate and drive impact.”
“Across the Bay Area, low-income families are finding themselves priced out and displaced to the far corners of the region as a result of soaring rents and home prices. Permanent affordable housing is the foundation for a thriving San Francisco Bay Area, where all residents are connected to economic opportunity, reliable transit, good schools, jobs and health care,” said Rich Gross, vice president and Northern California market leader, Enterprise “As a Community Progress Maker, we will align the efforts of city agencies, developers and advocacy groups to create solutions that will catalyze the production and preservation of affordable housing and stop the exodus of low- and moderate-income residents from the community.”
In 2016-2017, the inaugural cohort of Community Progress Makers helped more than 14,700 low-income people secure financial assets; built over 10,500 affordable housing units; strengthened more than 1,100 small businesses; and connected 1,800 young people to jobs in their communities.
About the Citi Foundation
The Citi Foundation works to promote economic progress and improve the lives of people in low-income communities around the world. We invest in efforts that increase financial inclusion, catalyze job opportunities for youth, and reimagine approaches to building economically vibrant cities. The Citi Foundation's "More than Philanthropy" approach leverages the enormous expertise of Citi and its people to fulfill our mission and drive thought leadership and innovation. For more information, visit www.citifoundation.com.