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Fall 2017 | Issue 27

Welcome to In the Community

There is generally a sense of excitement when new things come along, especially projects and initiatives designed to enhance the quality of life in our local communities.

These efforts may provide opportunities to address needs such as additional health care facilities, job creation, education, affordable housing or overall neighborhood revitalization.

Chase is a partner that supports community efforts across the country. We hope you enjoy the latest edition of the In the Community newsletter which highlights our ongoing support and local partnerships to make a positive impact in the community.

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Quarterly newsletter that highlights the ways we are bringing all our communities together.

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Summer Night Lights

Strengthening individuals, families and communities helps address gang-related violence in big cities such as Los Angeles. That’s where the GRYD Foundation and the Mayor’s Fund for Los Angeles come in, especially with signature programs like Summer Night Lights. The youth development program provides services to neighborhoods in Los Angeles, with support from local partners.

GRYD-Logo
MFLA-Logo

Chase1 stepped in with the help of the nonprofit, East Los Angeles Community Corporation, to provide the financial literacy training to over 300 young men and women in the Youth Squad employment program of Summer Night Lights. The GRYD Foundation’s Youth Squad 360 initiative provides programs that include training and case management services. Each year local youth are hired and trained to help create and implement programs at more than 30 Summer Night Lights sites.

In collaboration with the Summer Night Lights Youth Squad program, more than 50 Chase employees volunteered by:

  • joining visioning and goal-setting exercises,
  • helping create spending plans, and
  • teaching young people the importance of good credit in money management

The knowledge gained will help youth as they enter their new work assignments and move onward to future financial success.

Summer Night Lights
Summer Night Lights

Responding to Community Needs with Collaboration

More than 160 units of much-needed affordable housing is rising at the former site of mobile homes, a motel and warehouse. The mixed-income North Temple Flats project will include more than 90 affordable units for people with a history of homelessness, long-term mobility impairments and developmental disabilities.

North Temple Flats highlights how the collaboration of financing, local resources and expertise can help improve a community:

  • Chase provided both a $14.9 million construction loan and a $500,000 letter of credit,
  • The Salt Lake City Corporation will provide additional funding, and
  • Two nonprofits – The Road Home and Utah Independent Living Center – will provide supportive and life skill services.

North Temple Flats
Architectural Belgique

The development will not only provide affordable housing but also positively impacts the community by revitalizing an outdated site to better respond to community needs.

Serving a New Purpose at Meridian Hill Hall

Meridian Hill Hall
IFMM/Jair Lynch

Opened in 1942, the Meridian Hill Hotel became the first government-owned hotel to house women who moved to Washington, DC to fill government jobs during World War II.

More than 20 years later, the hotel was converted into a Howard University dormitory known as Meridian Hill Hall. Soon, the building will be renovated into more than 200 apartments, including many that are affordable.

Chase made an $8.85 million Federal Historic Tax Credit equity commitment to support the renovation. These efforts align with the City’s Comprehensive Plan to help protect and redevelop historic buildings, such as Meridian Hill Hall, to serve a new purpose while maintaining their historic character.

Chase Sponsors Startup Weeks

Chase for Business once again served as the lead sponsor for Startup Week in Tampa, Phoenix, Dallas and Detroit to help business owners and entrepreneurs learn and network. Check out the highlights below.

Be on the lookout for Denver Startup Week from September 25-29, and Seattle Startup Week from October 2-6. For more information on Chase for Business, visit here.

Helping Children Lead Healthy, Active Lives

Millions of American families have a number of choices when their children need specialized health care services. However, these choices are often limited for families with lower incomes, which makes the work of the Orthopaedic Institute for Children (OIC) even more important.

More than 90 percent of the children the OIC serves are uninsured or underinsured. Yet no child is ever turned away due to an inability to pay. Committed to helping children lead healthy, active lives, the Orthopaedic Institute for Children in Los Angeles now needs more space to enhance its services and upgrade facilities that are more than 50 years old.

Chase, a longtime partner, stepped in to provide an $8.3 million New Markets Tax Credit equity investment to support the renovation. The Los Angeles Development Fund and Urban Research Park CDE are also providing funding. This will enable OIC to fill an unmet need as the only specialty surgery or urgent care center specializing in pediatric orthopaedics in the county. Patients will also be seen faster and more conveniently.

The comprehensive project includes a new ambulatory surgery center, urgent care center, radiology department, the largest fracture clinic in California, physical therapy department and research laboratories. It will allow OIC to better serve its growing patient population. Just last year, OIC had over 69,000 patient visits, the most in its 106-year history, with more to come with the new facilities.

An estimated 200 new jobs will be created at the new facility, in addition to the current 200 full- time employees. Most of the new jobs will provide workers entry into the healthcare industry with educational training and advancement opportunities.

OIC-Logo

1  Chase refers to JPMorgan Chase & Co. and any of its subsidiaries or affiliates; Low Income Housing Tax Credit Investments are provided through JPM Capital Corporation; philanthropic grants are provided through the JPMorgan Chase Foundation.

In the Community is published by JPMorgan Chase CRA Management

Helpful Tools

Nonprofit Counselor Resources

We’re here to help you support your clients and community — to learn more about how we can help nonprofit agencies like yours, check out our Nonprofit Counselor Resources or call our Nonprofit Helpline at: 1-866-345-4676.

Subscribe to our Newsletter

Quarterly newsletter that highlights the ways we are bringing all our communities together.

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