Wells Fargo Donation To Help Revitalize North Tulsa Community

Wells Fargo is donating 18 properties in north Tulsa to seven non-profit groups with the goal of finding worthy families to live in the houses.

The company is also donating $7,500 per property to rehabilitate the previously abandoned houses.

A week and a half in her own home, and Shelia King still can't believe it.

"I think it's awesome. I think it's the most beautiful house," King said.

It's a nice three bedroom home in north Tulsa. King never dreamed she'd ever own her own house.

"The American dream is to be a homeowner. It's ecstatic to me, wonderful, awesome," she said.

As a single parent, enough income was always the obstacle to home ownership. So imagine her surprise when she was selected for a revitalization program through Wells Fargo that made it happen.

After a developer defaulted on a loan, Wells Fargo decided to donate 18 abandoned houses in North Tulsa to seven non-profit groups and churches.

"Our intention was, to help stabilize the community. That's truly what we wanted to do," said Joel Sarmiento of Wells Fargo.

Those groups then identified families who would benefit by having their own homes.

"If we have an opportunity to help then why not do it," Sarmiento said.

Wells Fargo also donated $7,500 in renovation money per house. The idea is to help people in need and to revitalize neighborhoods with high numbers of foreclosures and abandoned properties.

"What this does… is give hope. Now we'll have homeowners protecting their properties, and showing others how to do that," said Oklahoma State Representative Jabar Shumate, D-Tulsa.

The families make a small payment, at no interest, to cover property taxes and insurance. Then in 15 years, they own the home free and clear.

Shelia King is proud of her new house, and thankful for the program that made it possible.

"It happened. Miracles still happen," she said.

King says she can't wait to plant rosebushes and tulips in her yard, and get to know her neighbors.