Wells Fargo is donating $7.5 million to boost homeownership among Milwaukee families of color, according to a press announcement.
The donation, which is being done through the company’s Wells Fargo Wealth Opportunity Restored Through Homeownership (WORTH) initiative, a $60 million national effort to address systemic barriers to homeownership for people of color, will be formally announced late Wednesday afternoon as part of press conference featuring Milwaukee Mayor Cavalier Johnson, County Executive David Crowley and 19 public, non-profit and civic organizations.
Milwaukee is one of eight markets in the U.S. that is getting a WORTH grant.
The Community Development Alliance(CDA) is leading the effort, which is designed to help advance racial equity by funding quality, affordable homes for Milwaukee families.
The announcement will take place at 4 p.m. at the The Mecca Sports Bar and Grill 1134 Vel R. Phillips Ave. in downtown Milwaukee’s Deer District. The press event is taking place around the same time as an Acts Housing event, which is taking place at Mecca between 4 and 8 p.m. Wednesday evening.