FOR IMMEDIATE RELEASE
December 18, 2017
Federal Home Loan Bank of Dallas
Central City Affordable Housing Group Receives $8,000 Grant
IBERIABANK and FHLB Dallas Help Fund Nonprofit's Turnaround Plan
NEW ORLEANS, LOUISIANA, December 18, 2017 — Central City Housing Development Corporation (CCHDC) received an $8,000 Partnership Grant Program (PGP) award from IBERIABANK and the Federal Home Loan Bank of Dallas (FHLB Dallas) during a check presentation last week at IBERIABANK that it will use for organizational capacity, contractual services and research studies. Representatives from CCHDC, IBERIABANK and FHLB Dallas were present for the event.
CCHDC has a legacy that dates to 1968 of providing affordable housing in a historic African-American neighborhood north of New Orleans' Central Business District. Long-time community leader Priscilla Edwards, who came on as chairman of its board last year, reached out to Eric Anthony Johnson in early 2017 to become the new administrator. Ms. Edwards has a long history in the community where she headed up the Central City Economic Opportunity Corporation's senior center and HeadStart programs for many years. She also recruited a new board with a wide variety of expertise, including financial, legal and housing knowledge.
Dr. Johnson said that the PGP funds represent confidence in the nonprofit's ability to effect positive change in the community.
"The Partnership Grant is huge for us because it is a show of confidence and belief in the direction we are going," he said. "Without the support and oversight of the new CCHDC Board of Directors and the staff, the work completed to date and the future direction would not be possible," he said.
Dr. Johnson also reached out to IBERIABANK, which became instrumental as a new partner.
"There was a new IBERIABANK within walking distance and I just went into the bank one day," Dr. Johnson recalled. "We laid all the cards on the table about where we'd like to go."
Cleland Powell III, executive vice president at IBERIABANK, said he saw a lot of promise — so much so, that the bank recently agreed to serve on the nonprofit's board.
"We have confidence in CCHDC's direction and want to be a part of its future Central City housing initiatives," Mr. Powell said. "The PGP is a vital conduit through which we can further their mission."
Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas, said the PGP is about such partnerships.
"The PGP can strengthen both the community and our members' relationships with local nonprofits. That's what I see happening with IBERIABANK and CCHDC," said Mr. Hettrick.
FHLB Dallas, via the PGP, matches a member's contribution to a community-based organization (CBO) of $500 up to $4,000 at a 3:1 ratio for a maximum $12,000 contribution. Awarded annually via a lottery system through FHLB Dallas members, PGP grants may be used for research, organizational capacity-building, grant- and funding-application assistance or contractual services.
For more information, visit fhlb.com/pgp.
IBERIABANK Corporation is a financial holding company with 335 combined offices, including 228 bank branch offices and one loan production office in Louisiana, Arkansas, Tennessee, Alabama, Texas, Florida, Georgia, and South Carolina, 24 title insurance offices in Arkansas and Louisiana, and mortgage representatives in 68 locations in 10 states. The Company has 13 locations with representatives of IBERIA Wealth Advisors in four states.
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 $66.4 billion as of September 30, 2017, is a member-owned cooperative that supports housing and community investment by providing competitively priced loans and other credit products to approximately 840 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit fhlb.com.