Wells Fargo 2009 Annual Report Download - page 31

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
A ordable housing projects in communities across the country often
face challenges. In Portland, Oregon, a nonprofi t group, Cedar Sinai,
struggled to gather the fi nancing needed to buy and preserve a 235-unit
senior housing complex. WellsFargo helped meet the need. We structured
a multimillion-dollar fi nancing plan for the nonprofi t to buy and preserve
the building and protect residents from potential rent hikes. Team member
Katy Patricelli (pictured) of Portland worked with Community Development
investment manager Kevin Gardiner in Salt Lake City to help make the
fi nancing a reality. “Stepping in to help with this project gave WellsFargo
the opportunity to showcase our commitment to the community and to work
together to benefi t the places where we do business,” Patricelli said.
Protecting against
higherrent
The vision that works
“Stepping in to help with this
project gave WellsFargo the
opportunity to showcase our
commitment to the community
and to work together to
benefi t the places where
we do business.”
Katy Patricelli
Team Member, Portland, Oregon