BANK KUDOS KeyBank Women of the World Receives $120,000 Grant from KeyBank in Support of Employee Partnership Program KeyBank has awarded a $120,000 grant to Women of the World (WoW), a non-profit organization focused on overcoming employment barriers for forcibly displaced women residing in Utah. The grant will allow WoW to expand its Employee Partnership Program (EPP) by adding a social worker to the team, as well as expanding its office space and programming. “Sustainable employment is a massive step toward independence,” said Drew Yergensen, President of KeyBank Utah. “This program works with Utah employers to help secure jobs with benefits and the potential to move up the career ladder. Women in this program are overcoming personal trauma, language barriers and technological hurdles, and I’m beyond proud that our community can offer a hand up.” KeyBank Provides $46 Million of Financing for Affordable Housing Community in Utah KeyBank Community Development Lending and Investment provided a $8.6 million equity bridge loan and $13.1 million in 4% federal Low-Income Housing Tax Credit (LIHTC) equity for the acquisition and rehabilitation of an affordable housing community in Layton, Utah. The project also received permanent financing from KeyBank Real Estate Capital (KBREC), which secured a $24.2 million Freddie Mac tax-exempt loan (TEL). Skyline View Apartments is a three-property, 112-unit affordable housing community available to low-income families earning no more than 50% and 60% of the area median income (AMI) and is subsidized by a Section 8 Housing Assistant Payment (HAP) Contract. “The preservation of the Skyline View Apartments will help to address the substantial need for affordable housing in Utah,” said Robert Likes, President of KeyBank Community Development Lending and Investment (CDLI). “KeyBank is invested in the expansion of its community impact, and we continue to provide more capital to low-income communities throughout the country.” KeyBank Opens New Branch and Distributes Grant in West Valley City KeyBank celebrated its new full-service branch in West Valley City, Utah, October 20-21, with a celebration that included a ribbon-cutting ceremony, family-friendly activities with prize giveaways and a $10,000 donation to local nonprofit Comunidades Unidas. KeyBank’s new branch is located at 2807 S. 5600 W. in West Valley City. “KeyBank is excited at the opportunity this new branch provides for us to become an integral part of the West Valley City community,” said Drew Yergensen, KeyBank’s Utah Market President and Commercial Banking Team Leader. “West Valley City is the second largest city in the state and continues to be a business, recreation and entertainment hub. This new location highlights Key’s continued investment in Utah. We are excited to work more closely with our neighbors, clients and community partners.” KeyBank Partners with ROC USA to Expand Affordable Housing and Homeownership in Manufactured Home Communities KeyBank and ROC USA jointly announce that KeyBank Foundation, the bank’s charitable foundation, is providing a three-year, $150,000 grant to ROC USA, LLC, a nonprofit social venture with a mission to support homeowners in Manufactured (Mobile) Home Communities (MHCs) to achieve affordable and environmentally sustainable self-governing cooperatives. The grant is targeted to help the expansion of affordable resident owned MHCs in KeyBank’s markets in Utah, Ohio and Eastern Pennsylvania. Altabank To support growth in Washington County and Southwest Utah, Altabank has created a new operating region. The Red Rocks Region encompasses Washington and Iron Counties and is key to Altabank’s ongoing growth in Southern Utah. Evan Thomas has been named the Region Manager for the Red Rocks Region. Thomas joined Altabank in early 2023 after spending close to 10 years with State Bank of Southern Utah. He has a combined 25+ years of business banking and other professional experience in Southern Utah. Thomas is well-known in the community and has a track record of working closely with customers to build and manage their businesses. Other leaders in the region include Keli Peetz, newly promoted to Region Operations Manager, and Kandice Hansen, a long-time Southwest Utah banker who manages the St. George River Road branch. Utah Banker 20
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