COMMUNITY NEWS

Media Contact: Barbara Nate
(267) 321-7706

Contact: Jim Baum
(267) 321-7653

September 17, 2003
WACHOVIA REGIONAL FOUNDATION AWARDS OVER $500,000 IN NEIGHBORHOOD PLANNING GRANTS

PHILADELPHIA, PA, September 17, 2003 - Wachovia Regional Foundation announced today that is has awarded over $500,000 in neighborhood planning grants to six area nonprofit organizations to assist them in developing plans for neighborhood revitalization in New Jersey, Delaware, and eastern Pennsylvania.

The recipient groups are: Allegheny West Foundation, Philadelphia, PA; The Village of Arts & Humanities, Philadelphia, PA; First Baptist Community Development Corporation, New Brunswick, NJ; Ironbound Community Corporation, Newark, NJ; Parkside Business & Community in Partnership, Camden, NJ; and St. Paul's Community Development Corporation, Paterson, NJ.

"The Foundation selected these groups as partners due to their goals of developing resident-driven, collaborative plans that will serve as roadmaps for neighborhood revitalization," explained Denise McGregor Armbrister, Executive Director. "By enabling these groups to develop comprehensive plans for positive neighborhood change, we're supporting their initiatives to improve the lives of families and children in these communities."

Each of the organizations received a $70,000 - $100,000 grant to conduct a community-driven planning process focused on long-term neighborhood revitalization. These organizations will convene residents and key stakeholders to create the plans. Once developed, the plans will be used as guides for implementing positive neighborhood change and as tools for leveraging public and private funds.

"Each of these organizations is committed to bringing together residents, nonprofit organizations, government agencies, and business leaders to participate in a comprehensive planning process" said Ms. Armbrister. "Once these groups develop their plans, they will have a strong platform for leveraging additional public and private resources to support their efforts. We are pleased that Wachovia Regional Foundation had the opportunity to provide these organizations with seed money for building and strengthening neighborhoods."

Wachovia Regional Foundation, established in 1998, is a grantmaking body with the primary mission to support the revitalization of communities located in New Jersey, Delaware, and eastern Pennsylvania. Since its inception the Foundation has awarded over $25 million in grants to more than 65 nonprofit organizations. For additional information on the Foundation, please visit the website at www.wachovia.com. Click on the "Wachovia in the Community" link.

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