$140K Grant to Repair 20 Homes in Mississippi's Madison County

25 Feb, 2016, 17:40 ET from Federal Home Loan Bank of Dallas

CANTON, Miss., Feb. 25, 2016 /PRNewswire-USNewswire/ -- A $140,000 Affordable Housing Program (AHP) grant from BankPlus and the Federal Home Loan Bank of Dallas (FHLB Dallas) is helping 20 low-income homeowners with critical home repairs through Madison Countians Allied Against Poverty (MadCAAP).

The 30-year-old charity is targeting the AHP funds to elderly and/or disabled homeowners, whose houses were denied repair due to the homes' conditions. In addition to providing housing repair to residents of Madison County, MadCAAP also operates a clothing closet, food pantry, and an educational program called "New Attitudes," which covers topics such as computers, reading, and financial literacy as well as fire safety, home maintenance, healthy cooking, job readiness, and more.

"We are in the process of identifying 20 homes with damaged roofs and/or inadequate handicap accessibility," said Karen Robison, executive director at MadCAAP. "A solid roof, free of holes and leaks, can significantly improve a homeowner's quality of life. Leaking roofs cause secondary damage in a home, not to mention mold, which impacts health. We are so thankful to be able to help these individuals through the support of BankPlus and FHLB Dallas."

Mark Ouellette, first vice president and director of Affordable Housing at BankPlus, said acquiring reparative grant funding is an invaluable boost to Madison County residents in need.

"MadCAAP assists our communities in such tangible ways," he said. "They actively work to solve housing and home-repair problems for populations who otherwise cannot afford it. BankPlus is honored to support MadCAAP and be part of the solution for our neighbors."

In 2015, FHLB Dallas awarded $7.4 million in AHP grants to 32 projects that will result in 965 new or renovated housing units. Mississippi received $1.5 million for the construction or renovation of 188 units. In 2016, FHLB Dallas is offering $7.6 million in AHP funds, which will be announced later this year.

"Substandard housing brings with it a host of issues that can precariously build one upon the other," said Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas. "We are pleased to partner with BankPlus and MadCAAP to rehab these 20 properties and help the homeowners improve their lives."

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 BankPlus. 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.

About BankPlus

BankPlus, with total assets of more than $2.5 billion, has more than 60 banking offices in 34 Mississippi communities. BankPlus offices are located in Belzoni, Bentonia, Brandon, Byram, Canton, Clinton, D'Iberville, Durant, Flora, Flowood, Gluckstadt, Hernando, Holly Bluff, Horn Lake, Isola, Jackson, Lexington, Madison, Meridian, Newton, Olive Branch, Pearl, Picayune, Pickens, Poplarville, Quitman, Ridgeland, Shubuta, Southaven, Stonewall, Tchula, Tupelo, Waynesboro and Yazoo City. For additional information on BankPlus, please visit BankPlus.net.

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 $42.1 billion as of December 31, 2015, is a member-owned cooperative that supports housing and community development by providing competitively priced advances and other credit products to approximately 850 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas. Visit fhlb.com for more information.  

Contact:

Corporate Communications
Federal Home Loan Bank of Dallas
www.fhlb.com
(214) 441-8445

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SOURCE Federal Home Loan Bank of Dallas



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