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The original item was published from 6/22/2022 1:11:09 PM to 6/23/2022 12:26:33 PM.

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Posted on: June 22, 2022

[ARCHIVED] RXR Announces $500,000 to support New Rochelle Youth and Families

NEW ROCHELLE, NEW YORK, June 3, 2022 - RXR, a leading real estate owner, operator and developer, today announced $500,000 in grant funding to support New Rochelle youth and their families. The launch of a new $500,000 grant program comes on the heels of RXR awarding over $1 million in COVID relief funding to various non-profit organizations in New Rochelle and the surrounding region over the past two years. RXR is the master developer for Downtown New Rochelle and currently manages more than 3.3 million square feet of commercial and retail space, and 5,500 new residential units in the downtown.

New Rochelle is the home of the second largest school district in Westchester County, and as the community emerges from the worst of the pandemic there is an urgent need for programs that engages the city’s youth and their families that are also in safe and enriching environments. Grants will be awarded to local organizations that propose innovative and impactful programming for school-aged children and their families. The following programs and activities will be considered for funding: safe environments for youth, parental support, after school and weekend academic programming, STEAM and STEM, leadership and civics, sports and fitness, summer school programs, arts and media, career and workforce development, college readiness, financial literacy, mentorship, Social Emotional Learning and trauma support, and overall conflict resolution. “The pandemic exacerbated the need for impactful and meaningful programs to support New Rochelle’s children and families,” said Scott Rechler, Chairman and CEO of RXR. “After providing over $1 million to help support New Rochelle navigate the pandemic, we’re proud to launch the next phase of our community fund with an allocation of $500,000 to support New Rochelle’s youth.”

“RXR has proven their commitment to the City of New Rochelle throughout the COVID pandemic and now with this generous grant,” said New Rochelle City Manager Charles Strome. “These funds will provide valuable support to our local organizations and non-profits, securing the foundation of our community and ensuring that the future of our City remains strong.

Grants up to $25,000 will be designated for supplemental funding to impactful programs already in existence, while applicants for grants above $25,000 are encouraged to partner with other non-profit organizations in the area to either establish or expand innovative programing that targets a specific need or population. Applications for funding will be reviewed on a case-by-case basis and grants will be issued until the funding is exhausted. Applications can be submitted beginning on Friday, June 3rd at noon and will be accepted until Friday, July 1st at 11:59pm. Awardees will be announced in mid-August. To review the full criteria and apply, please visit RXRCommunityFund.com.

When New Rochelle became the nation’s COVID epicenter in 2020, RXR quickly established COVID Relief Fund with $1 million in seed funding from RXR to help the city’s residents, businesses, and non-profits. Working in partnership with the City of New Rochelle and other private partners, including the Louis R. Cappelli Foundation, the fund has disbursed over $1 million in grants to the community to date. Grants were awarded to combat food insecurity, provide childcare for essential workers, support telehealth services, help small businesses stay open, bridge the digital divide by providing students with broadband access and iPads, ensure after-school programs remain operational, and provide funding for vaccine incentives. 

Awardees include:

● Academic Pathways

● Boys and Girls Club of New Rochelle

● Child Care Council of Westchester

● HOPE Community Services

● Mount Vernon Neighborhood Health Center/Vax Up Westchester

● New Rochelle Municipal Housing Authority

● NourishAll

● STEM Alliance

● The Guidance Center of Westchester

● Westchester Alphas Education Foundation

● WestCop

● City of New Rochelle Holiday Market

As part of the RXR COVID Relief Fund, RXR awarded $486,000 to Rebound New Rochelle, a small business relief program, providing $5,000 - $10,000 in grants to women/minority business owners, bilingual business liaison support and strategic consulting services. In 2014, the City of New Rochelle selected RXR, in collaboration with its joint venture partner, Renaissance Downtowns, as the master developer for its downtown, which had untapped potential to transform into a vibrant, active business and cultural district. In the years since, RXR has been a dedicated community partner in New Rochelle, prioritizing hiring local and MWBE employees on its development projects.

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About RXR

RXR is an innovative investor, developer and place-maker committed to applying a customer and community-centered approach to building properties, services, and products that create enduring value for all stakeholders. Headquartered in New York with a national platform strategy, RXR is a 500+ person, vertically integrated operating and development company with expertise in a wide array of value creation activities, including ground up real estate, infrastructure and industrial development, uncovering value in underperforming properties, repurposing well-located iconic properties, incorporating cutting edge technologies and value-added lending. The RXR platform manages 88 commercial real estate properties and investments with an aggregate gross asset value of approximately$22.6 billion, comprising approximately 30.4 million square feet of commercial properties, a multi-family residential portfolio of approximately 7,600 units under operation or development, and control of development rights for an additional approximately 3,800 multi-family and for sale units as of March 31, 2022 adjusted for transactions that occurred through April 08, 2022. Gross asset value compiled by RXR in accordance with company fair value measurement policy and is comprised of capital invested by RXR and its partners, as well as leverage.

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