A local foundation that helps finance the preservation of historic structures will use a $25,000 grant to set up a fellowship program in community and economic development at Carnegie Mellon University.

The Landmarks Community Capital Corp., a subsidiary of the Pittsburgh History and Landmarks Foundation, received the grant from the PNC Foundation. The program will be established this fall at CMU’s Heinz College School of Public Policy and Management.

The fellowship will provide $4,000 yearly stipends for students to conduct research on projects of interest to Landmarks in low- to moderate-income communities, said Karamagi Rujumba, a spokesman for the organization.

The organization’s president said the fellowships will provide students studying public policy with “a great learning experience.”

“Through the Landmarks fellowship, students will get a chance to step out of the classroom, learn about our approach to community and economic development, and make a direct impact on the work we’re doing in neighborhoods and urban centers,” said Michael Sriprasert, president of Landmarks Community Capital Corp.

Sy Holzer, PNC’s regional president for Western Pennsylvania, said the fellowship program will “bring a fresh perspective to development across the region.”