FEATURED PARTNER-AMERICAN EXPRESS CENTER FOR COMMUNITY DEVELOPMENT

One of the main goals at the American Express Center for Community Development (CCD) is to form partnerships with community organizations; local, state, and federal government agencies; tribal entities; and other financial institutions. The CCD's programs and initiatives are designed as part of a long-term plan for improving the community. We firmly believe in establishing successful, long-term relationships that foster community growth and development through solid investment practices. Our association with these community partners has allowed us to work with many talented and dedicated people. It has also allowed us to share in the satisfaction of helping to improve the quality of life of residents in our community.

The CCD focuses on meeting the needs of low- and moderate-income individuals, distressed communities, and small businesses in Salt Lake, Summit, and Tooele counties-an area known as the Salt Lake Metropolitan Statistical Area (MSA). Additionally, a statewide or broader regional area that includes the Salt Lake MSA may be served to help meet community credit needs.  The CCD develops partnerships with community organizations, government agencies, tribal leaders, and financial institutions to serve the needs of the local community.  This level of commitment is driven by and reinforced through American Express' Blue Box Values, namely an interest in being good citizens in the communities in which we live and work.

AREAS OF EMPHASIS

In addition to the primary needs of the community, the CCD seeks solutions to address issues impacting underserved populations. These populations include, in part:

Native Americans

Partnering with tribal entities and the State of Utah, the CCD has supported several initiatives including the annual Native American Summits, Group Work camps projects, and nonprofits addressing issues concerning health care, housing, and education.

Refugees

Collaborates with the leaders of government agencies and refugee organizations to identify ways to help refugees overcome the barriers they face as they assimilate into a new culture.

Chronic Homeless

Represented on the governor appointed Homeless Coordinating Committee, a committee tasked with ending chronic homelessness in the state by 2014. By understanding the attributes of this population, this task force is equipped to shape public policy in a way that addresses this issue efficiently and with great humanity.

Developmentally and Physically Disabled

The CCD focuses on programs that increase job opportunities and the ability of individuals with disabilities to secure affordable housing. Through programs focused on this population, opportunities for independent living are created.

FINANCIAL LITERACY AND ASSET BUILDING

The CCD is an active supporter of credit counseling, home buyer education, and asset-building programs that enhance the lives of low- and moderate-income individuals. As a leading credit card provider, American Express recognizes the importance and value of responsibly using credit and proper asset management.

Youth Credit Education Programs

The CCD provides funding to enable Junior Achievement to be offered at title one schools that otherwise would not be able to offer these programs.  Junior Achievements world purpose is to inspire and prepare young people to succeed in a global economy.  Programs have also been developed that target youth, including Reality Town and Reality Store, real-life financial simulations that teach budgeting, credit usage, and other financial skills.  All of these programs are offered in part by American Express employees who donate their experience.

Adult Credit Education Programs

Employees of American Express also volunteer to teach one-on-one credit counseling sessions and group financial-literacy courses. These classes are offered at facilities serving low-and moderate-income individuals, including war veterans and domestic violence victims.

The Volunteer Income Tax Assistance (VITA) Program

The VITA program, sponsored by the Internal Revenue Service, offers volunteers who are well trained on federal tax credits for low- and moderate income taxpayers.   American Express has provided funding and employees have been certified to prepare taxes for VITA.

FIRST STEP HOUSE

American Express has funded programs such as First Step House that provide residential treatment in addition to other life and job skills training. Many of the clients leaving the program are gainfully employed and able to transition back into society.

HEALTH CARE

In an effort to provide medical care, American Express partners with many organizations including Utah Partners for Health (UPFH). UPFH uses existing medical facilities and volunteer medical professionals to provide health care services to low- and moderate-income individuals who lack health insurance.

ADULT / CHILD CARE AND EDUCATIONAL PROGRAMS

Through funding to Guadalupe Schools and Neighborhood House, American Express has been instrumental in supporting educational and child care programs. Guadalupe provides preschool through third-grade classroom programs, and in-home-parent mentorship programs. Neighborhood House provides child and adult day care services for the low income populations served by the organization.

Multifamily Rental Housing

The CCD developed several initiatives designed to provide housing for low- and moderate-income residents.

AMERICAN EXPRESS EQUITY AND WEST EQUITY FUNDS

Established in partnership with Enterprise Community Investments, the American Express Equity Fund and West Equity Fund help address the needs for affordable multifamily rental housing. The programs invest in projects that utilize Federal Low Income Housing Tax Credits (LIHTC), which make possible the development of affordable housing units that may not otherwise be built.

Through the Fund, the CCD purchases the LIHTCs associated with a project that then provide the equity needed to develop affordable housing for low-income renters. The CCD helped finance the development of more than 2,800 housing units.

TAYLOR SPRINGS APARTMENTS

Taylor Springs is a 95-unit apartment complex that provides housing for low-income seniors in Salt Lake City, Utah.  American Express invested more than $8.6 million to finance this project which also supports the revitalization of the downtown area neighborhood where Taylor Springs is located.

ARTSPACE BRIDGE PROJECTS

The Artspace Bridge Projects in downtown Salt Lake City were financed in partnership with American Express who provided a $5.6 million equity investment.  The 81,000 square feet building provides 62 affordable two and three bedroom apartments for households between 35-55% of area median income.

MAESER SCHOOL APARTMENTS

Maeser School is a historic building converted into senior housing. Developed by the Provo Housing Authority, in partnership with American Express investments of $3.3 million, the school now provides 31 units of affordable housing.

Transitional Housing Program

SUNRISE METRO

Sunrise Metro is an innovative project built off of the "Housing First" concept.  Housing First refers to the concept that chronically homeless individuals may be housed at a lower cost than providing intensive services through homeless shelters and health care facilities. Sunrise Metro houses 100 individuals. The project was made possible through a $6 million equity investment from American Express.

UTAH COMMUNITY REINVESTMENT CORPORATION

The CCD is an investor and founding member of the Utah Community Reinvestment Corporation (UCRC), an organization that finances new construction or the rehabilitation of multifamily projects in Utah. Thirty-nine banks help finance affordable housing through this $60 million loan consortium. UCRC is a primary source of financing for many developers and has provided or committed financing for  affordable rental housing. American Express has provided a $20 million commitment in the fund.