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Rocket homes address detroit8/15/2023 The number of owner-occupied homes that entered the auction – only 250 – was the lowest in more than 15 years. It is the Rocket Community Fund’s flagship Neighbor to Neighbor program that helped drive an unparalleled 94% reduction of the number of homes entering the 2019 Wayne County Tax Auction compared to 2015. The Rocket Community Fund will also invest $150 million of the overall $500 million commitment into Detroit over the next ten years, continuing to focus on its primary issue areas of housing, employment and public life. Non-profit organizations and individuals interested in learning more about future requests for proposal from the Gilbert Family Foundation can visit The Rocket Community Fund: “We look forward to working with existing and future partners to drive systemic change in Detroit.” “Big problems require even bigger solutions that address the symptoms as well as the systems that have contributed to the challenges Detroit continues to face,” said Jennifer Gilbert, co-founder of the Gilbert Family Foundation and founder of several successful Detroit-based companies. Two overwhelming themes emerged: Detroiters are resilient, and Detroiters need greater access to opportunity. Over the course of 2020, Gilbert Family Foundation cofounder Jennifer Gilbert held focus groups with Detroit leaders and residents to better understand the challenges and gaps that exist in Detroit. The Gilbert Family Foundation also remains committed to supporting efforts to cure neurofibromatosis.Ĭommunity engagement has been foundational to the creation of the Gilbert Family Foundation’s philanthropic strategy. Further investments will be focused on community priorities and may include digital equity, home repair needs, employment opportunities and other areas. The Gilbert Family Foundation will build short-term and long-term partnerships that break down systemic barriers, create new community-informed resources and successful program scale. Upon confirmation of eligibility, Wayne Metro will pay the remaining delinquent tax burden on behalf of residents.įollowing the first initiative, the Gilbert Family Foundation plans to remain connected to the homeowners supported through the Detroit Tax Relief Fund to shape future investments in economic opportunity and mobility. This investment will establish the Detroit Tax Relief Fund, which will be administered by Detroit nonprofit Wayne Metro Community Action Agency and allow the organization to scale their programming and services. However, many homeowners previously fell behind on their property taxes, not knowing about this resource, and are still struggling to overcome debt from years past, including interest, penalties and fees. Low-income homeowners are eligible for the City’s Homeowners Property Tax Assistance Program (HPTAP) – a partial or complete property tax exemption. “The greatest resource of any community is its people, and we are honored to be able to invest in removing this tax burden, which will build a stronger foundation for Detroit families to thrive.” “Everyone deserves to achieve the American dream of homeownership, and that includes the ability to sustainably and permanently enjoy the home you make for yourself, your family and your loved ones,” said Dan Gilbert. In doing so, the Foundation assists in preserving an estimated $400M wealth and home equity in Detroit. The Gilbert Family Foundation – Eliminating Property Tax Debt for Low-Income Homeowners:Īn initial $15 million investment from the Gilbert Family Foundation will completely eliminate the property tax debt owed by an anticipated 20,000 low-income homeowners in the city of Detroit. The philanthropic strategy will focus on building on-ramps to economic stability through investments in breaking down generational barriers and jumpstarting opportunities for economic stability and wealth creation. The investments were announced at an event with Gilbert Family Foundation founders Dan and Jennifer Gilbert, Rocket Companies CEO Jay Farner, Rocket Community Fund Vice President Laura Grannemann, Gilbert Family Foundation Executive Director Joyce Keller, Detroit Mayor Mike Duggan and Wayne County Executive Warren Evans. The Gilbert Family Foundation will contribute $350 million, and the Rocket Community Fund will invest $150 million. The Gilbert Family Foundation (GFF) and Rocket Community Fund today announced an unprecedented and transformational $500 million philanthropic investment over the next ten years, to be accomplished through strategic contributions to community organizations that will build economic opportunity in Detroit neighborhoods.
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