{"id":714371,"date":"2022-11-22T10:32:52","date_gmt":"2022-11-22T15:32:52","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/mt-bank-commits-1-2-million-to-community-revitalization-programs-in-pennsylvania\/"},"modified":"2022-11-22T10:32:52","modified_gmt":"2022-11-22T15:32:52","slug":"mt-bank-commits-1-2-million-to-community-revitalization-programs-in-pennsylvania","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/mt-bank-commits-1-2-million-to-community-revitalization-programs-in-pennsylvania\/","title":{"rendered":"M&T Bank Commits $1.2 Million to Community Revitalization Programs in Pennsylvania"},"content":{"rendered":"
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PR Newswire<\/p>\n<\/p><\/div>\n

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\n Funding slotted for 42 initiatives approved for state’s Neighborhood Assistance Program<\/i>\n <\/p>\n

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\n HARRISBURG, Pa.<\/span>
\n <\/span>, Nov. 22, 2022<\/span><\/span> \/PRNewswire\/ — M&T Bank will provide more than $1.2 million<\/span> to 42 initiatives aimed at serving distressed communities or low-income neighborhoods in Pennsylvania<\/span> through the state’s Neighborhood Assistance Program (NAP).<\/p>\n

The bank’s commitment to support the community improvement programs is among the $36 million<\/span>Pennsylvania<\/span> Governor Tom Wolf<\/span> recently approved for NAP, which encourages private-sector investment in initiatives designed to improve underserved communities or address neighborhood problems.<\/p>\n

The state program 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. A project can be sponsored by more than one business, and not all projects that apply for NAP funding are approved by the state.<\/p>\n

“M&T supports the Neighborhood Assistance Program as an innovative way to spur community development and revitalization throughout Pennsylvania<\/span>,” said Gail D’Angelo<\/span>, M&T’s community reinvestment manager for Pennsylvania<\/span>. “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.”<\/p>\n

M&T’s funding is concentrated largely in the state’s southeast, Philadelphia<\/span> and central areas, where the bank will contribute $395,000<\/span>, $300,000<\/span> and $295,000<\/span>, respectively, to 30 projects approved for NAP in fiscal 2023, which ends June 30, 2023<\/span>.<\/p>\n

The projects M&T will help support through NAP include:<\/p>\n