Sixty Low-Income Homeowners to Get Critical Home Repairs Thanks to Housing Grant

LEXINGTON, Miss., Oct. 17, 2014 /PRNewswire-USNewswire/ -- BankPlus, the Federal Home Loan Bank of Dallas (FHLB Dallas), and Community Students Learning Center (CSLC) have teamed up to rehab 60 homes in the city of Lexington, Mississippi, and Leflore County. According to BankPlus officials, a significant percentage of the low-income homeowners who will benefit from this initiative have special needs.

"This is a worthwhile project that we are proud to support," says Mark Ouellette, BankPlus first vice president and director of affordable housing. "We are not talking about just improving the aesthetics of a home. It's a safety issue. Many of these families are living in substandard conditions or without the necessary modifications to accommodate a physical disability because they do not have the resources to make the necessary repairs. "

FHLB Dallas, through BankPlus ¾ an FHLB Dallas member institution – awarded CSLC a $495,000 Affordable Housing Program (AHP) grant to help fund the rehab project.

Beulah Greer, CSLC executive director, explains that all homeowners will be accepted on a first-come, first-served basis. Additionally, qualifying homeowners must be current on their property taxes, and be willing to participate in a homeowner counseling class, which includes a home maintenance workshop section.

"Homeownership is a tremendous responsibility, and it's important that families understand all of the costs associated with homeownership – including maintenance and repairs," notes Ms. Greer. "Through the education component of this project, we are providing families with the tools and resources needed to maintain their homes going forward." 

CSLC works with youth, adults, and senior citizens, and according to Ms. Greer, many of the families that seek services from the agency are living in deplorable conditions. Projects such as this one, she says, give people hope.  

"We are deeply appreciative of BankPlus and FHLB Dallas for working with us to help 60 deserving families improve their living conditions," Ms. Greer adds. "We can all do our part to make this community a better place to live, and by working together, we are able to make a greater impact."  

Ms. Greer says the list of families seeking help is massive, and they are starting at the top of the list to identify the qualifying 60 homes for rehab. They are also in the process of reviewing bids from contractors, and Ms. Greer says they fully expect to begin the project in October.

This is the second grant FHLB Dallas and BankPlus have awarded to CSLC. Ms. Greer says the 2011 grant allowed them to rehab 35 homes in Holmes County and nine homes in Carroll County.

"FHLB Dallas is a member-centric, solutions-oriented organization," notes Greg Hettrick, vice president and director of community investment at FHLB Dallas. "We are here to support our member institutions like BankPlus as they strive to respond to a community need. Collectively and cooperatively, we can make a huge impact in the lives of people with special needs and in our communities."

About BankPlus

BankPlus, with total assets of more than $2.4 billion, has over 60 banking offices in 33 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, Waynesboro and Yazoo City. For additional information on BankPlus, please visit www.BankPlus.net.

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 $33.6 billion as of June 30, 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

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