Wells Fargo & Co. (WF) launched its new $11.4 UrbanLIFT community grant program to help accelerate economic recovery and neighborhood improvement projects in 25 cities, the company said in a press release.  

In addition, eligible nonprofits in cities that have substantial diverse populations and have been affected by foreclosures may apply for a grant.

"We’re committed to advance community stabilization in cities significantly impacted by the housing downturn and improving the quality of life for everyone in our communities," said Jon Campbell, executive vice president and head of Government and Community relations at Wells Fargo.

"UrbanLIFTwill help provide local nonprofits with additional resources they need to create safe, sustainable neighborhoods."

The eligible cities were determined as a part of an agreement with the U.S. Department of Housing and Urban Development, with approximately $458,000 available for each of the communities.