Chloe Coney, executive director of CDC of Tampa, Inc., receives a check from Patrick Sobers, Tampa market president for Bank of America.

March 13, 2006 — Four NeighborWorks organizations have each been awarded $200,000 grants by Bank of America as part of the corporation’s Neighborhood Excellence Initiative (NEI). The four NeighborWorks organizations—NeighborWorks HomeOwnership Center Sacramento Region, Housing Partnership of Northeast Florida, CDC of Tampa, and Boston’s Urban Edge Housing Corporation—were among the 78 chosen for the 2005 awards. Given through the NEI’s Neighborhood Builders program, the grants will help the selected organizations strengthen their capacity and infrastructures.

“These NeighborWorks organizations are some of the most effective at leveraging resources to achieve maximum benefit for their communities,” said Ken Wade, CEO of NeighborWorks America. “The results of their work include: increased economic development, more jobs, improved safety, enlightened consumers, and new homeowners, and much more. We thank Bank of America for recognizing the real difference these organizations are making.”

Bank of America has committed more than $30 million to the Neighborhood Excellence Initiative. Created to reward organizations and individuals who make a difference in their communities, NEI consists of three programs. In addition to neighborhood builders, local heroes and student leaders are also recognized. This year, the NEI will operate in 40 of the bank’s major markets across the country.

In addition to the NEI program, anchor institutions are a key focus for Bank of America. Local arts institutions, universities and hospitals support the economic vitality of these neighborhoods. Through a concentrated focus on building the capacity and leadership of community organizations complemented by support of national partnerships and anchor institutions, Bank of America delivers its $1.5 billion, 10-year goal for philanthropic giving.

Bank of America began accepting applications for the third year of the Neighborhood Excellence Initiative on March 13. Applications will be accepted through 8 p.m. EST on June 30, 2006. The Neighborhood Builders grants provide $200,000 for unrestricted general operating support. To learn more about the NEI’s programs, application requirements, and how to submit an application, visit: www.bankofamerica.com/foundation