M&T Bank will provide more than $1.2 million to 42 initiatives serving distressed communities/low-income neighborhoods in the commonwealth – several of which are in central Pennsylvania or the Lehigh Valley – through the state’s Neighborhood Assistance Program.
The bank’s commitment is among the $36 million Gov. Tom Wolf recently approved for the program, which provides tax credits to businesses like M&T that donate capital to support the projects approved to use 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.
The projects M&T will help support through NAP include:
· $25,000 to HDC Mid-Atlantic for the ongoing development of its College Avenue affordable housing project in Lancaster;
· $25,000 to Kutztown Small Business Development Center to assist entrepreneurs and small-business owners gain access to resources and information needed to launch or grow their businesses;
· $10,000 for Midwest Food Bank in Middletown to provide food rescue and distribution to more than 137,000 hungry individuals in central Pennsylvania;
· $50,000 for WEPA Empowerment Center to establish a bilingual community-based workforce development center in Lebanon city.
“M&T supports the Neighborhood Assistance Program as an innovative way to spur community development and revitalization throughout Pennsylvania,” Gail D’Angelo, M&T’s community reinvestment manager for Pennsylvania, said in a release. “We look forward to working with our partner organizations that were approved for NAP this year and witnessing the tremendous impact they will make in their respective communities.”
Buffalo-based M&T Bank has participated in the NAP program for years, with increased commitments in each of the past three years. In fiscal 2022, which ended June 30, the bank provided $836,000 to 35 projects throughout the state.
Paula Wolf is a freelance writer