Wells Fargo is donating a lot inside the City of Ketchikan to the Ketchikan Community Foundation.

According to Wells Fargo, the lot is located at 1074 Woodland Avenue. Ketchikan Community Foundation plans to use proceeds from the sale of that lot to further its mission. The donation is through Wells Fargo’s Community and Urban Stabilization Program.

Ketchikan Community Foundation is a local affiliate of the Alaska Community Foundation. The local group raises money for a permanent fund, and then uses interest earned from that fund for grants to local nonprofit agencies.

That permanent fund currently stands at nearly $400,000, according to the Ketchikan Community Foundation.

The foundation plans to give up to $26,000 to Ketchikan nonprofits this year. The grant application period starts Friday, and lasts through March 8th. The theme for this year’s grants is “Community Enrichment.”

Applications are available online