Inkster to be part of Smart City Initiative
September 23, 2021
INKSTER -Flagstar Bank today announced it is making a lead contribution of $1 million to Detroit-based Strategic Alliance Community Development Corporation to create fiber-optic infrastructure and provide high-speed broadband internet to Inkster, Mich. Ground-breaking for the project and training for workforce development will occur later this year. The project is scheduled to be complete by mid-2023.
The contribution to the nonprofit organization was announced today at Inkster City Hall with partners including Nokia, Chauncey Billups, City of Inkster, Motor City Leadership Council, Authority Health, A. Philip Randolph Institute, Festo, the Cities of Highland Park, Muskegon Heights and Ypsilanti, Vermeer, Michigan Roundtable and the Inkster Police Department.
The pandemic intensified the need to bring reliable and affordable broadband access to underserved communities like Inkster that are challenged to attract funding for significant infrastructure projects. The pilot's success will help provide similar broadband connections to more than 100 communities in Michigan and across the country.
"Streaming empowers dreaming," said Reggie Davis, Flagstar Bank executive vice president and president of Banking. "This project is an investment in Inkster's future and in the future of the entire metro area, which will benefit from having Inkster as a smart city, where youth are plugged in, tech-savvy and job-ready. I couldn't be prouder of Flagstar for taking the lead in jump-starting this project."
The seed money to the public-private partnership extends Flagstar Bank's commitment to diversity, equity and inclusion community initiatives. It is part of Flagstar's $2 million in contributions to help small businesses and people of color in its communities. Last December, Flagstar distributed $1 million in grants to more than 180 small businesses owned by people of color across Indiana, Michigan and California.
Chauncey Billups, head coach of the Portland Trail Blazers and former Detroit Pistons champion, is using his influence to help raise awareness about the disparities in economically disadvantaged communities. As the spokesperson for the Route to a Smart City initiative of the Strategic Alliance CDC, he is committed to helping solve these problems nationally.
"This program has so much potential to help in the fight of equality and resolution," Billups said. "We are going to put in the work to ensure every kid in the country has an equal fighting chance." To pledge your support to the Route to a Smart City initiative, click the donate button.
"We greatly appreciate the contributions of Flagstar Bank and all of our partners," said Jason Dixon, CEO of the Strategic Alliance CDC. "Thanks to this partnership, we have the right team and the community support to make this project a reality and bring a brighter future to Inkster and its residents. By empowering Inkster, we can demonstrate to the country that projects like this can be successful, and we are looking for more partners to join us in the fight to end the digital divide."
In total, the pilot project plans to raise $20 million through partnerships with corporations, foundations and nonprofits with a goal of launching a national deployment plan in 5-10 years. To learn more about the Inkster pilot project, visit flagstar.com/digital divide.
Flagstar Bancorp, Inc. (NYSE: FBC) is a $27.1 billion savings and loan holding company headquartered in Troy, Mich. Flagstar Bank, FSB, provides commercial, small business, and consumer banking services through 158 branches in Michigan, Indiana, California, Wisconsin and Ohio. It also provides home loans through a wholesale network of brokers and correspondents in all 50 states, as well as 86 retail locations in 28 states. Flagstar is a leading national originator and servicer of mortgage and other consumer loans, handling payments and record-keeping for $255.7 billion of loans representing almost 1.2 million borrowers. For more information, please visit flagstar.com.