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Proposal for the City of Santa Ana
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<br />J.PMorgan
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<br />JPMorgan Chase Bank, N.A. is a national banking association, organized and existing under
<br />the laws of the United States pursuant to a charter issued by the Office of the Comptroller of
<br />the Currency. Deposits in J.P. Morgan are insured by the FDIC as required by law and
<br />regulation.
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<br />J.P. Morgan is a member of the Federal Reserve System with access to all Federal Reserve
<br />System services.
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<br />J.P. Morgan and our local predecessor, Washington Mutual Bank (Wamu), have shown a
<br />sustained commitment to the City of Santa Ana and the surrounding community in various
<br />forms, including grants, lending, and homeownership preservation programs.
<br />Community Development Grants
<br />J.P. Morgan has long supported economic development, affordable housing, support
<br />services, education, and other community development initiatives by providing grants to not -
<br />for- profit organizations and financial intermediaries devoted to these areas, In addition, the
<br />bank has been a leader in designing and fostering innovative programs to meet the changing
<br />needs of its communities. For example:
<br />In July 2009, J.P. Morgan provided $35,000 to the Neighborhood Housing Services of
<br />Orange County (NHS OC), who develops and finances affordable housing and
<br />strengthens neighborhoods in partnership with residents, local government, financial
<br />institutions and the business community. The funding is benefiting the HomeAgain
<br />program whose goal is to return vacant distressed properties to affordable homes for
<br />families. The pilot program is now being expanded to address the current foreclosure
<br />crisis in Orange County. NHS OC will undertake the acquisition, rehabilitation and
<br />disposition of foreclosed residential properties. With this support, the HomeAgain
<br />Program will purchase and rehabilitate 40 foreclosed properties and sell 30 of the
<br />properties to low- and moderate- income borrowers. In addition, NHS OC will leverage
<br />other funding sources for a total of $3 million to expand the HomeAgain program primarily
<br />focusing on low and moderate income neighborhoods in the central portion of the county
<br />which includes (but not limited to) the cities of Anaheim, Fullerton, and Santa Ana. The
<br />organization self reports that 60% of the individuals who will benefit from this program are
<br />low- or moderate- income,
<br />In November 2009, we provided a $45,000 grant to Pivot Learning Partners for their
<br />Instructional Leadership initiative in Santa Ana Unified School District (SAUSD). Pivot
<br />Learning Partners seeks to transform schools into vital places to learn and to teach. They
<br />work with educational leaders in both schools and districts to develop, assess and use
<br />Pige 64
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