FOR IMMEDIATE RELEASE
December 18, 2014
Federal Home Loan Bank of Dallas
$304K Affordable Housing Program Grant Assists in Renovation of Men’s Induction Center
NEW ORLEANS, LOUISIANA, December 18, 2014 – The Federal Home Loan Bank of Dallas (FHLB Dallas) and Whitney Bank have awarded a $304,000 Affordable Housing Program (AHP) grant to the Teen Challenge of Greater New Orleans, Inc. The grant will help cover renovation costs for its Men’s Induction Center, as well as update two staff residential facilities.
Teen Challenge of Greater New Orleans has been in existence for nearly 30 years and was created to combat drug and alcohol dependency in homeless men and women. Greg Dill, executive director of the outreach organization, says the AHP grant is greatly needed.
“The Men’s Induction Center opened its doors in 1987. It was already showing many years of wear and tear when Hurricane Katrina hit,” said Mr. Dill. “This facility is sorely in need of rehabilitation, and we are thankful for the support Whitney Bank and FHLB Dallas have given us. It will allow us to continue providing critical services in the community.”
The Men’s Induction Center offers a wealth of support services, from drug and alcohol counseling to vocational training and basic life skills training. Clients have access to a community dining room, multipurpose room, lounge, personal study areas, and more.
“There is a real need in our community for the type of services Teen Challenge of Greater New Orleans provides, and Whitney Bank is pleased to support them and their efforts to bring about real change in our community,” said Ashley Aubrey Harrison, assistant vice president and community affairs representative at Whitney Bank.
AHP grants are awarded through FHLB Dallas member financial institutions, such as Whitney Bank, to assist in the development of affordable owner-occupied and rental housing for very low- to moderate-income households.
This year, FHLB Dallas awarded $9.8 million in AHP funding to 33 projects primarily within its five-state District of Arkansas, Louisiana, Mississippi, New Mexico, and Texas. The 2014 grants will result in the creation or rehabilitation of 1,586 housing units.
Since the program’s inception in 1990, FHLB Dallas has awarded more than $228 million in AHP grants to help approximately 42,000 families obtain safe, affordable, and quality housing.
“FHLB Dallas is proud to collaborate with our members and local outreach organizations to solve housing issues in the communities they serve,” said Greg Hettrick, vice president and director of Community Investment at FHLB Dallas.
About Whitney Bank
Since 1883 the Whitney Bank name has embodied core values of honor and integrity, strength and stability, commitment to service, teamwork, and personal responsibility. More information and online banking are available at www.whitneybank.com.
About the Federal Home Loan Bank of Dallas
The Federal Home Loan Bank of Dallas is one of 12 district banks in the FHLBank system created by Congress in 1932. FHLB Dallas, with total assets of $37.5 billion as of September 30, 2014, is a member-owned cooperative that supports housing and community development by providing competitively priced advances and other credit products to approximately 900 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas.