The Detroit Pistons and a local bank are teaming up to donate $25M to the city of Flint
What do Tom Gores, owner of the Detroit Pistons and Steve Steinour, CEO of Huntington Bank, have in common?
They're ready and willing to donate millions of dollars to help the city of Flint, MI in the wake of the water crisis.
And by millions, we mean $25 million.
Watch this overview of what's been happening with the water in Flint:
It's all a part of a new initiative to provide economic restructuring and development for the city.
The initiative will be combined with Gore's original $10M program called FlintNOW.
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The program is broken down in to different areas, with the allocated funds being spread among different areas of focus.
A look at Flint's demographics:
Around $22 million will go towards small business loans, $2 million to mortgage financing and the other $1 million towards helping rebuild and strengthen businesses that suffered as a result of the water crisis.
The initiative will also include the founding of the Flint Youth Financial Entrepreneurship Program, which will teach teens and children about the importance of money management, financial awareness and entrepreneurship.
Gores, a Flint native himself, said in a statement:
"I am really proud of Huntington for stepping up in such a substantial way and joining us in this cause. This is exactly the kind of private sector partnership we envisioned when we launched FlintNOW. The government is responsible for fixing the water supply in Flint, but we're all responsible for fixing the community."
Here's to hoping this funding will be exactly what this Michigan city needs to get back on its feet.
RELATED: A look at social media responses to the Flint Water Crisis
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