For Immediate Release
Release Date: 09/26/2011
$150,000 grant awarded for affordable housing in EBR
Money will help15 families acquire homes through Habitat for Humanity of Greater Baton Rouge
The Federal Home Loan Bank of Dallas is awarding a $150,000 grant to help 15 low-income families purchase homes through Habitat for Humanity of Greater Baton Rouge.
The Affordable Housing Program (AHP) grant, provided through Whitney Bank, is part of $11 million that is being awarded this year to a total of 53 affordable housing projects in the Federal Home Loan Bank of Dallas’s five-state district, which includes Louisiana, Arkansas, Mississippi, Texas and New Mexico. In all, these projects will result in the creation or rehabilitation of 1,653 housing units for deserving families.
Mayor-President Melvin “Kip” Holden, who helped Habitat for Humanity secure the grant, said the money will change the lives of 15 East Baton Rouge families by making them homeowners.
“Home ownership has always been an important part of the American Dream, and this grant will help 15 East Baton Rouge families achieve that dream,” Mayor Holden said.
Lynn Clark, executive director of Habitat for Humanity of Greater Baton Rouge, said the grant money will be used for down payments that will make mortgage payments more affordable for the 15 benefitting families.
“We are very grateful to Whitney Bank and Mayor Holden for partnering with Habitat to secure this down payment assistance for 15 very low income families,” Clark said. “This grant highlights both Mayor Holden and Whitney Bank’s commitment to making decent, affordable housing a reality for low income families.”
According to Michael Lambert, government and industry liaison for the Federal Home Loan Bank of Dallas’ corporation communications, the bank has awarded more than $214 million in AHP grants since the project was created in 1990 to help approximately 40,000 families obtain safe, affordable and quality housing.
Each year, 10 percent of the Federal Home Bank of Dallas’ profits are set aside for AHP grants, which are used to purchase, construct or rehabilitate single-family, transitional, and multi-family project for very low- to moderate-income families. It is one of 12 district banks in the FHLB System created by Congress in 1932.
# # # # #