FORT WORTH, Texas, March 2, 2016 /PRNewswire-USNewswire/ -- The Presbyterian Night Shelter in Fort Worth has received a $500,000 Affordable Housing Program (AHP) grant for the construction of a new, $8.4 million center for women and children. The grant was awarded by Texas Capital Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas).
"This funding allows us to make a greater impact on homeless women and children. It was crucial in helping us to meet our goal," said Toby Owen, CEO of the Presbyterian Night Shelter. "We are on schedule with the project. Our grand opening is June 1, and clients will begin moving in June 3."
Located on the night shelter's current campus at 1105 E. Presidio Street in Fort Worth, Texas, the new facility is expected to decrease the length of stay for women and children with improved quality, capacity, and impact of services.
Capacity-wise, the shelter will expand to serve 40 families, up from the current 30, and its space to serve single women will increase, allowing as many 148 women to receive care at a time. This is up from the current 130-client capacity. An additional 28 private rooms are being added, and ample dining space will allow everyone to be served at one time. In addition, new space will be available for vocational life skills and personal financial management training.
The new facility is expected to decrease security risks because it is situated away from high homeless foot traffic and is custom-designed with security in mind, Mr. Owen said.
Effie Dennison, senior vice president and director of Community Development at Texas Capital Bank, said the bank was pleased to be able to work with the nonprofit on the AHP grant.
"The Dallas-Fort Worth Metroplex benefits from the breadth of services provided by the Presbyterian Night Shelter," Ms. Dennison said. "The new center for women and children will create much-needed shelter and services for this vulnerable population. Texas Capital Bank is honored to support the Presbyterian Night Shelter's efforts to improve their lives."
FHLB Dallas, in partnership with its member financial institutions, has awarded more than $7.4 million in AHP grants to 32 projects, primarily within its five-state District of Arkansas, Louisiana, Mississippi, New Mexico, and Texas. Of this amount, the Lone Star State was awarded $2.3 million to construct or rehabilitate 265 units. In 2016, FHLB Dallas will award $7.6 million in AHP grants. Recipients will be announced later this year.
FHLB Dallas annually returns 10 percent of its profits in the form of AHP grants to the communities served by its member institutions. 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.
"The AHP was designed more than a quarter-century ago for initiatives such as this," said Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas. "We are pleased to partner with Texas Capital Bank, a valued member that shares our affordable housing mission."
About Texas Capital Bancshares, Inc.
Texas Capital Bancshares, Inc. (NASDAQ: TCBI), a member of the Russell 2000® Index and the S&P SmallCap 600®, is the parent company of Texas Capital Bank, 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.
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 loans and other credit products to approximately 850 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas. For more information, visit our website at fhlb.com.
Federal Home Loan Bank of Dallas
SOURCE Federal Home Loan Bank of Dallas