Preble Street Receives $300,000 From KeyBank Foundation
Rhea-AI Summary
Preble Street, a nonprofit organization with offices in Bangor, Lewiston, and Portland, ME, has received a $300,000 grant from KeyBank Foundation to support its Site-Based Housing First (SBHF) programs. The three-year commitment will help Maine's plan to end chronic homelessness by creating 400 new Housing First units statewide. The funds will enable:
1. Development of a comprehensive SBHF Training and Technical Assistance program for developers and service providers.
2. Expansion of 24-hour social work support services to a new SBHF program in Portland, serving an additional 30 people experiencing chronic homelessness.
Preble Street currently operates three SBHF programs in Portland, providing housing to 85 people with complex needs. This grant is part of KeyBank's $40 billion commitment for lending and investments across its national footprint, supporting affordable housing and community development projects.
Positive
- KeyBank Foundation's $300,000 grant commitment over three years to support Preble Street's Site-Based Housing First programs
- Expansion of Preble Street's services to accommodate 30 more people experiencing chronic homelessness
- Alignment with Maine's state plan to create 400 new Housing First units
- Development of a comprehensive training and technical assistance program for statewide implementation
Negative
- None.
News Market Reaction
On the day this news was published, KEY declined 0.24%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Funds will support expansion of Preble Street's Site-Based Housing First programs in Maine
PORTLAND, ME / ACCESSWIRE / August 20, 2024 / Preble Street, which has offices in Bangor, Lewiston, and Portland, ME. has received a three-year,
"With this commitment, the KeyBank Foundation shows its support for a simple concept - everyone deserves housing and the support necessary to maintain it," said Preble Street Executive Director Mark Swann. "With the current unsheltered homelessness crisis facing our state and more than 140 people already on the waiting list for existing Site-based Housing First apartments, this funding will allow us to help many other individuals find safety and a place to call home. On behalf of all of us here at Preble Street, we thank the KeyBank Foundation for stepping up to be part of the solution to ending chronic homelessness in Maine."
Preble Street's mission is to provide accessible, barrier-free services to empower people experiencing problems with homelessness, housing, hunger and poverty, and to advocate for solutions to these problems. Founded in 1975, Preble Street responds to urgent social problems through emergency services, long-term solutions, and advocacy that seeks to end homelessness and hunger in Maine. It is the state's largest nonprofit provider of homeless services to youth and adults and is a leader in statewide planning for both populations.
Preble Street currently operates three SBHF programs in Portland: Logan Place, Florence House, and Huston Commons. Combined, these programs provide permanent, supportive, affordable housing to 85 people with complex needs who have experienced chronic homelessness. With the recent passage of the State of Maine's LD 2: An Act to End Chronic Homeless by Creating the Housing First Fund, Preble Street is uniquely positioned to lead the implementation of this plan by replicating and scaling its successful model across the state, providing proven and cost-effective solutions that can functionally end chronic homelessness for so many in Maine.
"KeyBank believes that everyone in our community should have safe, affordable housing and we are committed to providing access to capital and support to neighborhoods and neighbors who have often faced financial barriers," said KeyBank's Maine Market President, Tony DiSotto. "We have been long time supporters of Preble Street and their innovative solutions to tackle chronic homelessness and are pleased to support the expansion of their successful Site-Based Housing First model to help more individuals to achieve stable, permanent homes."
KeyBank Foundation grants are part of a
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Media contacts:
Preble Street: Danielle Smaha, Communications Director | 207-775-0026 | dsmaha@preblestreet.org
KeyBank: Karen Crane, Communications Manager | 203-789-2752 karen_crane@keybank.com
View additional multimedia and more ESG storytelling from KeyBank on 3blmedia.com.
Contact Info:
Spokesperson: KeyBank
Website: https://www.3blmedia.com/profiles/keybank
Email: info@3blmedia.com
SOURCE: KeyBank
View the original press release on accesswire.com
FAQ
What is the amount of the grant Preble Street received from KeyBank Foundation?
How many new Housing First units does Maine plan to create?
How many additional people will Preble Street serve with the new SBHF program in Portland?
How many SBHF programs does Preble Street currently operate in Portland?
