Holy Angels' Madonna Hall Dormitory Renovations Completed with Help from $385K Affordable Housing Program Grant

SHREVEPORT, La., Feb. 20, 2015 /PRNewswire-USNewswire/ -- A grand opening celebration was held yesterday in Shreveport, Louisiana, on the campus of Holy Angels residential facility. Extensive renovations to Holy Angels' residential dormitory known as Madonna Hall, were unveiled. The project was completed with help from a $385,000 Affordable Housing Program (AHP) grant through the Federal Home Loan Bank of Dallas (FHLB Dallas) and its member institution, Red River Bank.

Holy Angels is an independent, licensed residential training facility serving approximately 184 individuals with intellectual and developmental disabilities. The AHP grant was used for making significant structural renovations at Madonna Hall, which included adding new bathrooms, as well as upgrading bedrooms and common areas.

AHP grants are awarded through FHLB Dallas member financial institutions, such as Red River Bank, to assist in the development of affordable, owner-occupied and rental housing for very low- to moderate-income households. Since 1990, FHLB Dallas has awarded more than $237 million in AHP funds to assist more than 44,000 individuals and families.

"The AHP program was designed for projects such as this one at Holy Angels," said Greg Hettrick, vice president and director of Community Investment at FHLB Dallas. "It is rewarding to see the AHP funds used for this deserving facility that benefits not only residents of Holy Angels, but, in turn, the community as a whole."

Harold Turner, Shreveport/Bossier City market president for Red River Bank, said Thursday's event reflected Red River Bank's commitment to the citizens of Shreveport. 

"Housing projects, such as Madonna Hall, benefit all citizens," said Mr. Turner. "This was a great opportunity for local government and the business community to come together on a project that supports everyone and sets an example for future collaborations."

The renovations to the dormitory, the first since 1985, facilitate a total care environment for Madonna Hall's aging residents. Updates include building-wide insulation and ceiling tiles, new flooring and lighting, double-pane windows, textured walls, the replacement of bathtubs with accessible showers, a covered driveway, and an additional parking lot.

"For 50 years, Holy Angels has stood as an advocate for the empowerment and expert care of individuals with disabilities," said Holy Angels CEO Laurie Boswell. "Through this partnership, Holy Angels, Red River Bank, and the Federal Home Loan Bank of Dallas have established a premier model for safe, community-style living, specifically designed to meet the needs of seniors with developmental disabilities."

About Red River Bank

Red River Bank is a full service community bank headquartered in Alexandria, Louisiana. Red River Bank was chartered in 1998 in Rapides Parish and began operating its first banking center in Alexandria in 1999. Red River Bank offers consumer and commercial banking services and products, mortgage lending services, and investment services.

About the Federal Home Loan Bank of Dallas

The Federal Home Loan Bank of Dallas is one of 12 district banks in the FHLBank system created by Congress in 1932. FHLB Dallas, with total assets of $38 billion as of December 31, 2014, is a member-owned cooperative that supports housing and community development by providing competitively priced advances and other credit products to approximately 900 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas.

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

Related Links

http://www.fhlb.com