FOR IMMEDIATE RELEASE
October 1, 2018
Federal Home Loan Bank of Dallas
$16K PGP Grant Awarded to Habitat for Humanity of Jefferson County
Partnership Grant Program Funds to Assist Residents Displaced After Hurricane Harvey
BEAUMONT, TEXAS, October 1, 2018 — Sixty-three percent of the homes in Jefferson County, Texas, were damaged or destroyed when Hurricane Harvey swept across the area in 2017. Today, more than 25 percent of those affected by the storm are still displaced.
Getting the residents back into their homes is the focus of "Home after Harvey," a program of Habitat for Humanity of Jefferson County (Habitat Jefferson County), a nonprofit that provides safe and secure housing for low-income working families. Thanks to a $16,000 Partnership Grant Program (PGP) from CommunityBank of Texas and the Federal Home Loan Bank of Dallas (FHLB Dallas), Habitat Jefferson County will be able to assist more people affected by Hurricane Harvey.
Miriam Morgan, executive director of Habitat Jefferson County, said many residents continue to need home rebuilding assistance.
"Some people received FEMA grants, but they didn't go very far, so we'll be helping those people complete repairs on their homes, as well as others who weren't able to do anything for themselves," said Ms. Morgan. "When FEMA's hotel program ended in July, it displaced more than 1,000 families."
As a charitable organization, Habitat Jefferson County must use funds when they are received. It isn't permitted to maintain a disaster fund. That makes grant programs such as PGP extremely important.
Through this unique grant program, FHLB Dallas member institutions contribute $500 up to $4,000 to a CBO, which FHLB Dallas matches at a 3:1 ratio to provide the CBO up to $12,000 in grant money. In 2018, FHLB Dallas has awarded $300,000 in PGP funds through 31 member institutions to assist 32 community-based organizations. Combined with the $114,010 contributed by FHLB Dallas members, a total of $414,010 has been awarded to the organizations.
"We greatly appreciate FHLB Dallas' support in partnering with us on this grant," said Kirk Smith, senior vice president of Commercial Lending at CommunityBank of Texas. "As a member of this community, we are gratified to be able to be a part of its recovery from this devastating hurricane."
Supporting and investing in communities in partnership with member institutions such as CommunityBank of Texas, is the foundation of FHLB Dallas' mission, said Greg Hettrick, first vice president and Community Investment director at FHLB Dallas. "Being able to benefit communities in this way is not only a fulfillment of our mission, it's extremely rewarding."
About CommunityBank of Texas, N.A.
CommunityBank of Texas, N.A. is a commercial bank offering solutions to small and mid-sized businesses and professionals in Houston, Beaumont, and surrounding communities in southeast Texas. CommunityBank of Texas, N.A. is the wholly owned subsidiary of CBTX Inc. a bank holding company traded on the Nasdaq Global Select Market under the symbol "CBTX." Visit www.communitybankoftx.com for more information.
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 created by Congress in 1932. FHLB Dallas, with total assets of $75.9 billion as of June 30, 2018, is a member-owned cooperative that supports housing and community investment by providing competitively priced loans and other credit products to approximately 825 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit fhlb.com.