The $10 million agreement with the bank will be used to fund several existing city housing programs, officials said, all of which are targeted to promoting and preserving home ownership for low- and moderate-income residents. The settlement agreement also stipulates that Wells Fargo and the city will collaborate to conduct a program called "Understanding Philadelphia" for employees who work at Wells Fargo Home Mortgage in the area, which will "analyze the history of the housing market in [Philadelphia], the city's diverse neighborhoods, and the current housing needs of city residents."