Funding dedicated
to 42 initiatives approved for state's Neighborhood
Assistance Program
HARRISBURG, Pa., Sept. 27,
2023 /PRNewswire/ -- M&T Bank (NYSE: MTB) has
provided $1.22 million this year to
42 initiatives aimed at serving distressed communities or
low-income neighborhoods in Pennsylvania through the state's Neighborhood
Assistance Program (NAP).
The NAP program provides tax credits to businesses like M&T
that donate capital to support projects approved to receive NAP
funding for affordable housing, community services, crime
prevention, education, job training, food access, blight, special
population issues, veterans' initiatives or long-term community
revitalization.
"Supporting the communities we serve is at our core, and M&T
stands firmly behind the Neighborhood Assistance Program – a
catalyst for igniting dynamic revitalization efforts throughout the
state," said Gail D'Angelo,
M&T's Regional Community Reinvestment Act (CRA) Manager. "As
our neighborhoods evolve, we're thrilled to join this year's cohort
of partner organizations granted NAP approval to support the
profound changes they will bring across Pennsylvania."
M&T provided funding for many initiatives across its
Pennsylvania footprint including
in the southeast, Philadelphia and
central areas with contributions totaling $290,000, $300,000
and $230,000 respectively, for the
fiscal year ending June 30, 2023.
The projects M&T helped support through the NAP include:
- $50,000 for The Working to
Empower People for Advancement (WEPA) to establish a bilingual
community-based workforce development center in the city of
Lebanon;
- $50,000 for Diamond City
Partnership, an economic development alliance working to transform
downtown Wilkes-Barre;
- $30,000 for Affordable Housing
Centers of Pennsylvania to provide
housing counseling services to residents of West Philadelphia, where mortgage foreclosures
are up and homeownership among Black residents is down;
- $25,000 to HDC Mid-Atlantic for
the ongoing development of its College Avenue affordable housing
project in Lancaster;
- $25,000 to Kutztown
University Small Business Development Center to assist
entrepreneurs and small-business owners gain access to the
resources and information they need to launch or grow their
businesses; and,
- $10,000 for Midwest Food Bank to
provide food rescue and distribution to more than 137,000 hungry
individuals in Central
Pennsylvania.
M&T Bank has participated in the NAP program for more than
20 years, with increased contributions in each of the past three
years. In the fiscal year ending June
30, 2023, the bank provided $1.22 million to 42 projects throughout the
state, which represents a more than 45% increase over the previous
fiscal year.
For more information about Pennsylvania's NAP tax credits and the
complete list of projects approved for fiscal year 2023, please
visit the Pennsylvania Department of Community & Economic
Development website.
About M&T
M&T Bank Corporation is a financial
holding company headquartered in Buffalo,
New York. M&T's principal banking subsidiary, M&T
Bank, provides banking products and services in 12 states across
the northeastern U.S. from Maine
to Virginia and Washington, D.C. Trust-related services are
provided in select markets in the U.S. and abroad by M&T's
Wilmington Trust-affiliated companies and by M&T Bank. For more
information about M&T Bank, visit www.mtb.com.
© 2023 M&T Bank. Member
FDIC.
Media Contact:
Scott Graham
(410) 244-4097
sgraham1@mtb.com
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SOURCE M&T Bank