FOR IMMEDIATE RELEASE
April 3, 2019
Federal Home Loan Bank of Dallas
$400K Grant to Rehab 40 Homes in Mississippi
The First, A National Banking Association and FHLB Dallas Provided Funds
WAVELAND, MISSISSIPPI, April 3, 2019 – Hancock Resource Center (HRC) was awarded a $400,000 Affordable Housing Program (AHP) grant from The First, A National Banking Association and the Federal Home Loan Bank of Dallas (FHLB Dallas). The funds will assist 40 low-income, elderly and special-needs homeowners living in substandard conditions to make critical home repairs in Mississippi's Hancock and Harrison counties.
"Without grants like this one, the families in our community would be living in homes that are in disrepair or living in homes that make it just a little bit harder to live," said Rhonda Rhodes, HRC president. "The AHP allows our community members to live in healthy, happy homes, which in turn makes for a happy and healthy community."
Jerome Brown, senior vice president and director of Community Development at The First, A National Banking Association, said the AHP grant directs resources to an underserved population.
"The residents this grant will benefit are hard workers, but struggle to make ends meet due to various life circumstances," Mr. Brown said. "The AHP grant will help 40 families to make critical repairs to their homes, which for a rural area is a big deal."
FHLB Dallas annually returns 10 percent of its profits in the form of AHP grants to the communities served by its member institutions such as The First, A National Banking Association. AHP grants fund a variety of projects, including home rehabilitation and modifications for low-income, elderly and special-needs residents; down payment and closing cost assistance for qualified first-time homebuyers and the construction of low-income, multifamily rental communities and single-family homes.
"In addition to making affordable housing more accessible in underserved areas, the AHP also helps to alleviate issues associated with substandard housing," said Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas. "We're proud to partner with The First in their efforts to improve the quality of life for residents in this part of the state."
The 2019 AHP application is available Monday through May 16, 2019. Applications are only accepted through FHLB Dallas members. For more information about the AHP, visit fhlb.com/ahp.
About The First, A National Banking Association
The First, A National Banking Association, headquartered in Hattiesburg, Mississippi, began as a dream on a back porch in South Mississippi. A group of local businessmen talked about creating a bank that would take care of business by taking care of people one customer at a time... and The First was born. Now, that dream has grown from a back porch to cities and towns all over South Mississippi, South Alabama, Florida, Georgia and Louisiana. The First is more than a bank...because it is still a group of friends building relationships and taking care of business one customer at a time! The First currently has 73 locations and assets of $3 billion.
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 $72.8 billion as of December 31, 2018, is a member-owned cooperative that supports housing and community development by providing competitively priced advances and other credit products to approximately 825 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. Visit fhlb.com for more information.