MARYVILLE – First Tennessee has created a $50 million Community Development Fund that will award up to $3 million annually in grants to community and nonprofit organizations serving low- to moderate-income people and neighborhoods. These are in addition to the $5 million in grants nonprofits traditionally receive from the First Tennessee Foundation each year.
Community Development Fund grants will be distributed each year to nonprofits and community organizations in First Tennessee markets including the greater Knoxville area.
Projects eligible for funding include those that promote financial literacy, support affordable housing for low- to moderate-income residents or provide down-payment assistance to LMI homebuyers.
“Our goal is to provide financial empowerment tools and support to our low- and moderate-income neighbors and neighborhoods so the entire community grows stronger together,” said Greg Wilson, Maryville president for First Tennessee. “When all segments of our communities are strong, First Tennessee Bank will be more successful.”
First Tennessee has established an advisory board to provide strategic direction for the First Tennessee Community Development Fund. Members are:
- Ruby Bright, Executive Director and CAO, Women’s Foundation for a Greater Memphis
- John Hope Bryant, Founder, Chairman and CEO, Operation HOPE
- Erik Cole, Director, Mayor’s Office of Economic Opportunity and Empowerment, Nashville
- Scott Pierce Ledbetter Jr., CEO, LEDIC Management Group LLC, Memphis
- Alvin Nance, CEO of Development and Property Management, Lawler Wood Housing Partners LLC, Knoxville
In addition, First Tennessee has designated community development managers who will serve specific markets. The Maryville manager is:
Joshalyn Hundley
Knoxville Region
(865) 971-2005
For more information about Community Development Fund grants, contact Keith Turbett, CRA manager, at (901) 523-4627 or [email protected].