FOR IMMEDIATE RELEASE
June 20, 2019
Federal Home Loan Bank of Dallas
Houston Homeless Shelter Receives $222K Grant for New AC Units
Texas Capital Bank and FHLB Dallas Provide Affordable Housing Program Funds
HOUSTON, TEXAS – June 20, 2019 – Texas Capital Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas) have awarded a $222,000 Affordable Housing Program (AHP) grant to the Star of Hope Mission in Houston, Texas, to replace air conditioning units that were in disrepair at the Doris and Carlos Morris Men's Development Center.
Star of Hope Mission is an organization dedicated to meeting the needs of homeless men, women and children by providing structured programs that focus on spiritual growth, education, employment, life management and recovery from substance abuse. The men's development center – where the new units will be installed – houses up to 400 homeless men per day.
Star of Hope Mission President and CEO Hank Rush said the AHP grant was right on time.
"The most vulnerable in our community will experience the impact of this grant as we house and provide services to the homeless and help them acquire skills to transition into independent living," Mr. Rush said. "Star of Hope is grateful to have partnered with Texas Capital Bank and FHLB Dallas as they understand the needs of the people served by our mission and how important their support is to the Houston community."
The Doris and Carlos Morris Men's Development Center, founded in 1907, is one of the two campus facilities that offer shelter at Star of Hope Mission. In addition to the hundreds who stay at the men's shelter, the Women and Family Development Center at Star of Hope's Cornerstone Community campus averages about 180 single women and 130 families. There are more than 200 children staying on the campus, according to the 2018 Star of Hope Mission Ministry Report. Both centers offer short-term emergency care and long-term structured recovery programs.
Star of Hope Mission has partnered with Texas Capital Bank and FHLB Dallas over the past 12 years to help with renovations and construction on the campus. This is the sixth AHP grant awarded to Star of Hope since 2008.
"We feel honored to take part in the improvement of the lives of hundreds of members of Houston's homeless community," said Effie Dennison, executive vice president, director of Community Development and Corporate Social Responsibility at Texas Capital Bank. "Something as simple as contributing to the replacement of AC units can make such a difference to those in need, and we are always thrilled to team up with the Federal Home Loan Bank of Dallas to make a positive impact."
FHLB Dallas annually awards AHP grants through members like Texas Capital Bank to support the creation or rehabilitation of affordable housing. In 2018, FHLB Dallas awarded $14 million in AHP grants, of which $2.3 million was awarded to Texas projects. It will result in 556 new or rehabilitated housing units.
"AHP grants have provided the rewarding opportunity to increase the quality of life of disadvantaged individuals," said Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas. "We are grateful to have Texas Capital Bank as a partner for this initiative."
For more information about the AHP, visit fhlb.com/ahp.
About Texas Capital Bancshares, Inc.
Texas Capital Bancshares, Inc. (NASDAQ®: TCBI), a member of the Russell 1000® Index and the S&P MidCap 400®, is the parent company of Texas Capital Bank, N.A. a commercial bank that delivers highly personalized financial services to businesses and entrepreneurs. Headquartered in Dallas, the bank has full-service locations in Austin, Dallas, Fort Worth, Houston and San Antonio. For more information, please visit www.texascapitalbank.com. Member FDIC.
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 $69.0 billion as of March 31, 2019, is a member-owned cooperative that supports housing and community development by providing competitively priced advances and other credit products to approximately 820 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. Visit fhlb.com for more information.