Council Member Glorious Johnson Hopes to Bring New Community Reinvestment Model to Jacksonville in Conjunction with Wells Fargo Bank

June 11, 2009  

Jacksonville City Council Member Glorious Johnson (At-Large, Group 5) met in Miami this week with Florida Minority Community Reinvestment Coalition Chairman Al Piña and Shelley Freeman, the new President of Wells Fargo Bank - Florida to discuss how to introduce a new community reinvestment model to Jacksonville's blighted, economically disadvantaged neighborhoods. Wells Fargo, which recently acquired Wachovia Bank nationwide, is seeking to introduce to the East Coast its California based model of community reinvestment based on the premise of social responsibility and job creation. Council Member Johnson wants Jacksonville to be one of the first cities to bring the new model to Florida, beginning with the Durkeeville/Mid West Corridor in Northwest Jacksonville.

Said Council Member Johnson: 'We need a model that is driven by compassionate capitalism and inclusion that will be centered on job creation for Jacksonville.' After meeting with Shelley Freeman, she stated 'There is no doubt in my mind that both Wells Fargo and Shelley can help us bring change to both Jacksonville and Florida. It is our hope that they can replicate the community reinvestment initiative that was very successful in Compton CA in Durkeeville/Mid West. Both Al Piña (FMCRC Chair) and I lobbied for Durkeeville/Mid West in hope that Wells Fargo will select this highly distressed community of Jacksonville for implementation of the Wells Fargo community reinvestment model. This new approach to community reinvestment is what both Jacksonville and Florida need.'