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Bank Offers Grants In 5 Detroit Neighborhoods

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(WWJ Photo/Florence Walton)

(WWJ Photo/Florence Walton)

DETROIT (WWJ) – Citizens Bank will make $1.6 million in grants available to residents in five neighborhoods who want to fix up their homes.

WWJ’s Florence Walton reports that the bank will offer the grant for pre-approved exterior improvement projects.

The five select neighborhoods are east English Village, Boston Edison north end/Virginia Park, north Rosedale Park, Hubbard Farms southwest/Bagley, Detroit Golf Club/Greenacres/Palmer Woods/Sherwood Forest/University.

“The grant program will reimburse up to 50-percent of the approved project costs, up to $10,000,” said Citizen’s Bank President Kathy Nash. In addition, the bank is also offering low-interest loans for home improvement projects to all of Detroit and Wayne County.

Detroit Mayor Dave Bing announced the program, Monday, at the New Midtown Citizens Bank office.

“With so many of our neighborhoods in disrepair, when people come and they look they look at the exterior. That’s what they see. Nobody from the outside gets into the home,” said Bing. “So, to make sure that people feel good about what they see is very, very important.”

Bing  has chosen the neighborhoods, which are in more affluent areas of the city. However, the mayor says he is working with other lending institutions to try to expand this grant program to other areas of Detroit.

(Read a related story.)

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