Citi Foundation Awards $500,000 to Enterprise Community Partners Grant to Further Leadership and Innovation in Green, Affordable Housing

BALTIMORE, Nov. 19 /PRNewswire/ -- Citi Foundation awarded Enterprise Community Partners a $500,000 grant today in support of its Green Communities (R) initiative, the largest effort in the U.S. to bring the benefits of green building to low-income people. The grant will support the continued growth and expansion of Green Communities by enabling Enterprise to create more green affordable developments, deepen technical support in improving building energy performance and tap the emerging carbon market as a new resource for green affordable homes.

"Citi is committed to supporting such environmentally sustainable programs as the Green Communities initiative, which offers innovative and effective approaches to making communities better. Specifically, our partnership with Enterprise Community Partners provides opportunities for low- to moderate-income families throughout the U.S. to benefit from housing that is not only affordable, but environmentally sound as well. We are very pleased to be a part of this important and ground-breaking initiative," said Mary McDowell, President and CEO, CitiFinancial North America.

McDowell made the announcement during the Citi-sponsored opening breakfast of the 2008 Enterprise Community Conference, Transforming & Redefining Community Development, held at the Baltimore Marriott Waterfront Hotel. The conference, focusing on core housing and development priorities needed to maintain and increase the viability of communities in need, comes at a time when the housing concerns for individuals and families with low-incomes is more prevalent than it has been in the past 40 years.

"As one of the founding supporters of Green Communities and an active partner in the national implementation of the initiative with Enterprise, Citi has continually shown unwavering commitment to create housing that is economically responsible and environmentally responsive," said Doris Koo, president and CEO of Enterprise Community Partners. "It is through collaborations with leaders like Citi and Citi Foundation that we are able to find new ways to increase the quality of life through housing for our neighbors who are in the most need."

Since 2000, Citi and the Citi Foundation have awarded over $4.5 million dollars to Enterprise Community Partners for Green Communities and other programs. The first national framework for environmentally smart affordable homes, Enterprise's Green Communities criteria has been adopted by many cities including Washington, DC, San Francisco and Denver, as a standard for building city-owned housing. To date, the program has created more than 13,500 sustainable homes in 300 communities and invested $570 million in grants, loans and equity. The Urban Land Institute and the Financial Times also recently awarded Enterprise a global Sustainable Cities Award for Green Communities' best practices in sustainability in real estate.

Enterprise is a leading provider of the development capital and expertise it takes to create decent, affordable homes and rebuild communities. For more than 25 years, Enterprise has pioneered neighborhood solutions through public-private partnerships with financial institutions, governments, community organizations and others that share our vision. Enterprise has raised and invested more than $9 billion in equity, grants and loans to help build or preserve more than 240,000 affordable rental and for-sale homes to create vital communities. Enterprise is currently investing in communities at a rate of $1 billion a year. Visit www.enterprisecommunity.org and www.enterprisecommunity.com to learn more about Enterprise's efforts to build communities and opportunity.

Citi, the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Citi's major brand names include Citibank, CitiFinancial, Primerica, Smith Barney, Banamex and Nikko. Additional information may be found at www.citi.com.

Citi Foundation is committed to enhancing economic opportunities for underserved individuals and families in the communities where we work throughout the world. Globally, the Citi Foundation is focusing its giving on Microfinance and Microentrepreneurship, which helps individuals become economically self-sufficient; Small and Growing Businesses, leading to economic expansion and job creation; Education, which prepares young people for personal and professional success; Financial Education, which helps individuals make informed financial decisions; and the Environment with a focus on sustainable enterprises that generate jobs and stimulate economic growth while preserving the environment. Additional information can be found at http://www.citigroupfoundation.com/.