LEXINGTON, Miss – (COMMERCIAL THREAD) – BankPlus and the Federal Home Loan Bank of Dallas (FHLB Dallas) have awarded an Affordable Housing Program (AHP) grant of $ 596,160 at the Community Students Learning Center (CSLC) to rehabilitate 60 housing units for low-income homeowners with special needs.
The funds will primarily help people with reduced mobility who need wheelchair ramps, bathroom lift bars or wider doors, but other people who own their own homes and meet income restrictions may also get help. Eighty percent of homes are in rural Holmes County, Mississippi, and the remaining 20 percent are in an economically diverse area.
“Applicants will be offered training on home maintenance,” said Beulah Greer, executive director of CSLC. “With the help of the Affordable Housing Program grant, we are able to deliver a much needed program at no cost to the community. ”
BankPlus Senior Vice President and Director of Affordable Housing Mark Ouellette said the AHP is helping the bank make a mark in its community.
“The Affordable Housing Program is an excellent offer that allows BankPlus to offer organizations support to improve the quality and availability of housing,” said Mr. Ouellette. “BankPlus is delighted to partner with Federal Home Loan Bank of Dallas and to work with the Community Students Learning Center to carry out its mission. ”
AHP funds are intended to help FHLB Dallas members finance the purchase, construction and / or rehabilitation of owner-occupied, rental or transitional housing and housing for the homeless. AHP funds should be used for the benefit of households with incomes equal to or less than 80 percent of the median income in the region.
In 2020, FHLB Dallas awarded $ 19.3 million in grants to 38 affordable housing projects. The funds will make it possible to create 2,749 new or rehabilitated housing units. That total includes $ 2.3 million in grants for 231 housing units in the state of Mississippi.
Since the inception of the AHP in 1990, the FHLB Dallas has provided more than $ 323 million under the AHP and Homeownership Reserve programs and has assisted more than 57,000 households.
“Rural residents are often overlooked when it comes to helping those in need with affordable housing,” said Greg Hettrick, senior vice president and director of community investment at FHLB Dallas. “We are honored to partner with BankPlus to help the Community Students Learning Center achieve their project goals. ”
For more information on AHP, visit fhlb.com/ahp.
Founded in 1909, BankPlus is one of the leading regional banks in the South East serving consumers and businesses with the latest technology through a full range of financial services including retail banking, commercial banking, mortgages and wealth management. With total assets of approximately $ 4.5 billion, BankPlus operates 79 financial centers across Mississippi, Alabama and Louisiana. For more information on BankPlus, visit bankplus.net.
About the Federal Home Loan Bank of Dallas
The Federal Home Loan Bank of Dallas is one of 11 district banks in the FHLBank system established by Congress in 1932. FHLB Dallas, with total assets of $ 64.9 billion as of December 31, 2020, is a cooperative owned by its members which supports housing and community development by providing competitively priced loans and other credit products to approximately 800 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit our website at fhlb.com.