TD Charitable Foundation awards Housing for Everyone grant award to New Jersey Community Capital to address growing rental burden crisis in Orlando
March 17, 2021, Newark, NJ and Orlando, FL – New Jersey Community Capital (NJCC) was recently awarded a $150,000 affordable housing grant through the TD Charitable Foundation’s 15th Annual Housing for Everyone competition, its fourth consecutive award. NJCC’s nonprofit real estate subsidiary, Community Asset Preservation Corporation (CAPC), will use the funding to support the Parramore Asset Stabilization Fund (PASF) in Orlando, FL and provide critical rental and support services for residents impacted by the COVID-19 pandemic.
In 2018, CAPC entered into a unique and innovative partnership with the Community Loan Fund of Florida and Central Florida Foundation to improve and preserve long-term affordable housing rental units for families in Orlando’s Parramore neighborhood using the land trust model. This partnership has enabled large scale, transformative impact resulting in neighborhood improvements that align with community plans and values. In the wake of the COVID-19 pandemic, residents have experienced significant financial hardships, including the threat of eviction. In response, CAPC is working closely with tenants to provide rental assistance and support services to ensure long-term housing stability for these Parramore residents in need.
“Through CAPC, NJCC has developed an initiative to help COVID-19-impacted families and individuals in Orlando’s Parramore neighborhood avoid eviction and remain in safe, affordable housing,” said Nick Miceli, Regional President – Florida, TD Bank. “Being awarded the 15th Annual Housing For Everyone grant is an acknowledgement of NJCC’s dedication to ensuring an inclusive recovery from the pandemic. TD has had a great relationship with NJCC for years in New Jersey and now that they are executing programming in one of our communities in need in Florida, it’s an honor to play a role in the positive impact they will have locally.”
This year’s competition awarded funding to 32 nonprofit organizations addressing the growing rental burden crisis by providing relief and support services that keep renters in their homes.
“As the residents of Parramore continue to adjust to the challenges posed by the COVID-19 pandemic, NJCC remains committed to providing the comprehensive, equitable resources necessary for ensuring housing stability,” said Wayne Meyer President of NJCC. “As one of our long-standing partners, we thank TD Bank for supporting our investment in healthy, affordable housing and helping us improve the quality of life for Parramore residents through long-term housing opportunities.”
The Housing for Everyone grant competition is one of the TD Charitable Foundation’s most widely known signature programs. The competition invites local nonprofit organizations from Maine to Florida to submit proposals outlining their plans and initiatives to support and provide affordable housing initiatives in their communities. A full list of the Housing for Everyone recipients can be found at https://go.td.com/3v7s4FE
About New Jersey Community Capital
New Jersey Community Capital (NJCC) is a nonprofit community development financial institution (CDFI) that provides an innovative toolkit of financial products, programs and services to advance equity and opportunity in underserved communities. NJCC supports the preservation and development of affordable housing and sustainable community development ventures that increase jobs, improve education and strengthen neighborhoods to ensure that communities can thrive. To learn more, visit www.newjerseycommunitycapital.org and Twitter: @NJCLF.
Community Asset Preservation Corporation (CAPC)
Community Asset Preservation Corporation (CAPC) is a wholly owned subsidiary of New Jersey Community Capital. CAPC is a nonprofit organization that acquires vacant and abandoned properties to stabilize and revitalize communities. CAPC partners with local community builders and contractors to rehabilitate and return properties to productive use as quality, affordable housing. To learn more, visit www.capcnj.org.
About the TD Charitable Foundation
The TD Charitable Foundation is the charitable giving arm of TD Bank, America’s Most Convenient Bank®, one of the 10 largest commercial banking organizations in the United States. Since its inception in 2002, the Foundation has distributed over $254 million through donations to local nonprofits from Maine to Florida. More information on the TD Charitable Foundation is available at https://www.tdbank.com/corporate-responsibility/the-ready-commitment/funding-opportunities/