KeyBank donation to Avesta will fund areas of 'critical need'

File photo/ Tim Greenway TK....Dana Totman and Greg Payne....

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By Staff

The KeyBank Foundation has awarded a $133,333 grant to Portland-based nonprofit Avesta Housing to help fund a multi-generational approach to "critical areas of community need,."

The foundation, which is the charitable nonprofit unit of KeyBank, awarded the grant after extensive discussions with Avesta, which builds and manages affordable housing, Dana Totman, Avesta president and CEO, said in a news release Friday.

The money will go to creating and expanding access to safe, clean, affordable housing for seniors, enhanced resident services and the improvement of and investment in existing Avesta properties, according to the news release.

Avesta provides homes to 1,500 seniors and an additional 1,600 seniors requested affordable housing in 2018, the news release said. The HomeOwnership Center provides services to support financially healthy and sustainable ownership through community-based classes.

The grant will also fund counseling and education classes for first-time home buyers and homeowners facing the threat of foreclosure on their homes that are offered through the Avesta NeighborWorks HomeOwnership Center. Since its inception in 2008, the HomeOwnership Center has provided home buyer education, foreclosure mitigation counseling, and budget/credit counseling to over 5,000 people to improve their access to housing and financial security.

“KeyBank and Avesta have been engaged in a meaningful and extensive dialogue about how best to partner and support both seniors and first-time home buyers," Totman said. "This multi-generational approach will make great strides in improving our community’s financial stability and ability to live in safe, quality, affordable homes. We’re very grateful for KeyBank’s shared commitment to partnering with us to improve lives and strengthen communities here in Maine.”

KeyBank is committed to helping clients and communities thrive, with a focus on assisting people at all income levels gain access to safe, affordable and stable housing, the release said. Its grant to Avesta is part of a $16.5 billion National Community Benefits Plan that includes investments in affordable housing and development, small business and job development, residential mortgages for under-served communities, and transformative philanthropy across the bank’s 15-state network.

“Safe, affordable housing for all is a key ingredient for a healthy community and the financial wellness of its residents,” said KeyBank Market President Chip Kelley. “We are proud to support Avesta’s work in providing sustainable housing options to both seniors and first-time home buyers.”