BOA Donates To South Bay Charities Serving Silicon Valley

SAN JOSE, Calif. – Bank of America announced Monday it is donating $285,000 in economic development grants to 13 nonprofits that help stimulate local business and neighborhood revitalization in communities across Silicon Valley.

Nonprofits such as Silicon Valley Creates, Sacred Heart Community Services and Habitat for Humanity are receiving the funds for providing services ranging from affordable housing and community development resources to small business support and cultural programs that stimulate the local economy.

“By investing in these nonprofits, Bank of America aims to create economic opportunity for entire communities through programs ranging from neighborhood revitalization and housing to local arts programming. Amid the rapid growth of our region, we want to help ensure everyone can benefit economically and sustainably to continue to call Santa Clara and San Mateo ‘home’,” said Raquel González, Bank of America market president for Silicon Valley.

Among these grant recipients is HEART of San Mateo County, an affordable housing trust fund that provides technical assistance and early stage funding to organizations and developers building affordable housing for low- and moderate-income families.

“Bank of America is an important partner in our efforts to support affordable housing. Their contribution helps us expand our work into complex housing projects, like the teacher housing project, that require significant effort and innovative financing solutions.” HEART's Executive Director Armando Sanchez said. “With Bank of America’s support, we are looking forward to another successful year assisting in the development of hundreds of affordable housing units.”

Other organizations receiving grants include: Habitat for Humanity East Bay/Silicon Valley, Hip Housing, Housing Endowment and Regional Trust of San Mateo County, Housing Trust Silicon Valley, Prospect Silicon Valley, San Jose Museum of Art, School of Arts and Culture at MHP, Silicon Valley Creates, Montalvo Association, Renaissance Entrepreneurship Center, Sacred Heart Community Services, Save the Bay and Second Harvest Food Bank.

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