Bank of America Grant

A historic litigation settlement has resulted in the formation of a new grant opportunity through the Alaska Bar Foundation. The Foundation is now accepting applications from Alaska based civil legal services providers that serve low-income, underrepresented Alaskan residents in the areas of foreclosure prevention legal assistance and/or community redevelopment legal assistance.

More than $1,200,000 has been made available to Alaska through a 2014 settlement on mortgage-related litigation between the U.S. Department of Justice and Bank of America Corporation. The settlement required that every Interest on Lawyers’ Trust Accounts program in the U.S. and its territories receive funds for legal aid organizations in its jurisdiction for foreclosure prevention legal assistance and community redevelopment legal assistance.

Grants awarded for the year 2017 were to Alaska Legal Services/ANDVSA – Foreclosure Prevention $600,000, Alaska Legal Services/ANDVSA – Community Redevelopment $165,000, and Alaska Institute for Justice – Community Redevelopment $135,000.  Grants awarded for the year 2018 were to Alaska Business Development Center – Community Redevelopment $60,000, Covenant House – Community Redevelopment $60,000, Disability Law Center – Community Redevelopment $200,000.

Total funds awarded in 2017 & 2018 $1,220,000.00.

If you have any questions, please contact Karen Schmidlkofer at 907-272-7469.