July 10, 2008
Contact: Erin Angell Collins, 202-220-6317, eangell@nw.org
NeighborWorks® America Honors Wachovia Corporation’s Michael P. Rizer
with 2008 NeighborWorks Business Leadership Award
Charlotte Business Leader Receives National Award for Contributions to Affordable Housing
WASHINGTON, D.C. –Today NeighborWorks America announced that Michael P. Rizer, Executive Vice President, director of Community Relations of Wachovia Corporation in Charlotte, N.C., is the recipient of the 2008 NeighborWorks Business Leadership Award. Launched in 2007, the NeighborWorks Business Leadership Award recognizes an outstanding community volunteer in the private sector. Recipients are honored for their contributions to the goals and success of the local NeighborWorks organization and to the NeighborWorks network.
“Through his volunteerism and demonstrated commitment to sustainable homeownership opportunities and quality affordable rental housing, Mike Rizer has made significant contributions that have strengthened Charlotte’s communities,” said Ken Wade, CEO of NeighborWorks America. “His efforts serve as inspiration to others in his community.”
Rizer is dedicated to creating partnerships that result in more affordable housing solutions for Charlotte. A former member and Chair of Charlotte-Mecklenburg Housing Partnership, Inc.’s (CMHP) Board of Directors, Rizer helped the agency undertake several new affordable rental housing developments. During Rizer’s tenure on the CMHP Board, the organization increased its assets from $38 million to $45 million, built 485 high-quality, affordable rental units, helped 246 families become homeowners, and provided counseling to nearly 2,200 families.
Rizer has played an instrumental role in activating the nonprofit response to Charlotte-Mecklenburg’s foreclosure crisis. Identified as having the highest foreclosure rate in the state of North Carolina, Charlotte-Mecklenburg’s first-time homebuyer market has been especially affected. Upon participating in discussions on how to address the crisis and the region’s response, Rizer offered his support, which brought together local resources to address the looming problem.
As a result of Rizer’s leadership, CMHP and other area non-profit housing organizations have been able to increase the number of quality affordable housing homes available in the Charlotte housing market. For example, Wachovia Corporation recently made an acquisition loan to CMHP, which enabled CMHP to purchase Double Oaks apartments, an opportunity to create a new mixed-income, mixed-use development, of which 51 percent of the units will be affordable. The Wachovia Foundation has provided grants to assist with personal relocation support for the current residents of Double Oaks.
In addition, the Wachovia Foundation supports homeownership education at CMHP, as well as CMHP’s HomeOwnership Center.
Learn more about the NeighborWorks Business Leadership Award and the 2008 honoree.
About NeighborWorks America
NeighborWorks America creates opportunities for people to improve their lives and strengthen their communities by providing access to homeownership and to safe and affordable rental housing. Since 1991, we have assisted nearly 1.2 million low- to moderate-income families with their housing needs. Much of our success is achieved through our support of the NeighborWorks network ― more than 230 community development organizations working in more than 4,400 urban, suburban and rural communities in all 50 states, the District of Columbia and Puerto Rico. In the last five years, NeighborWorks organizations have generated more than $15 billion in reinvestment in these communities. NeighborWorks America is the nation’s leading trainer of community development and affordable housing professionals. www.nw.org.
