The Low Income Housing Institute (LIHI) received a $250,000 grant from the KeyBank Foundation. KeyBank celebrated its Community Impact Day on April 3 and allocated over $1.9 million to almost 20 nonprofits in the greater Seattle area. KeyBank CEO Beth Mooney was in town from KeyBank’s Cleveland headquarters to announce the grants with Carol K. Nelson, Pacific Regional Sales Executive and Seattle Market President.
LIHI will use the funds to develop affordable rental housing for low-income families and individuals in Rainier Valley. In building these properties, LIHI plans to partner with construction pre-apprenticeship and vocational programs to help low-income students and people of color to gain construction experience and job skills.
“The KeyBank Foundation is built on the premise of transforming communities by ensuring thriving students, a thriving workforce and thriving neighborhoods,” said Nelson. “To me, that means supporting programs and organizations dedicated to creating real and lasting change… programs designed to lift up individuals and communities in the neighborhoods where we live and work.”
Mooney added that the types of grants awarded April 3 are aligned with KeyBank’s $16.5 billion National Community Benefits Plan which launched in 2017. The plan addresses the needs of low-to-moderate income consumers and underserved communities by providing over $16.5 billion in mortgage lending, small business lending, community development lending and investing, and philanthropy across all of KeyBank’s markets. More information on the National Community Benefits plan can be found at: www.key.com/CBPlan.
In the Seattle region, KeyBank actively invests in the communities it serves through philanthropy, volunteerism and board service.
“LIHI is excited to receive this $250,000 grant from the KeyBank Foundation,” said Sharon Lee, LIHI’s Executive Director. “We look forward to adding affordable housing in Seattle’s Rainier Valley that is close to transit and jobs. We will partner with Seattle Vocational Institute and other pre-apprentice programs to enable their students to gain practical skills, build affordable housing, and gain living wage jobs.”
About Low Income Housing Institute
In operation since 1991, LIHI has a comprehensive and effective approach for reducing homelessness and helping the most vulnerable people in our region achieve stability and self- sufficiency through affordable housing development and management, free hygiene centers for the homeless, case management, homeless services, and advocacy.
LIHI develops, owns, and operates housing for the benefit of low-income, homeless, and formerly homeless people in Seattle and surrounding areas, overseeing 2,039 affordable units for low-income and homeless families and individuals in 62 properties. Additionally, LIHI has developed and is managing seven innovative Tiny House Villages for homeless families and individuals serving over 1,000 people each year. For more information, visit www.LIHI.org .
KeyCorp’s roots trace back 190 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation’s largest bank-based financial services companies, with assets of approximately $136.7 billion at September 30, 2017.
KeyBank provides deposit, lending, cash management, insurance, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of more than 1,200 branches and more than 1,500 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank is a member of FDIC.