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$97.7K Subsidy to Fund Home Improvements for 10 Natchez Homeowners

·3-min read

Home Bank and FHLB Dallas Partner on Funding

Home Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas) have awarded a $97,700 Affordable Housing Program (AHP) subsidy to the city of Natchez to rehabilitate 10 homes for very low- to low-income residents.

Natchez is a historic city and one of the oldest settlements along the Mississippi River. It is known for its welcoming atmosphere and affordable living opportunities.

"The city of Natchez was fortunate to receive two AHP subsidies, one of them from Home Bank," said James Johnston with the Department of Planning and Community Development at the city of Natchez. "These subsidies will help us double our impact in the community providing an additional 10 homes with much-needed repairs."

Brandon Kelly, Home Bank’s vice president and Community Development director, said he is thankful to assist Natchez with its project.

"We are grateful to be able to work with Mississippi organizations like the city of Natchez to help improve the quality of housing for low-income residents," Mr. Kelly said.

AHP funds are intended to assist FHLB Dallas members in financing the purchase, construction and/or rehabilitation of owner-occupied, rental or transitional housing and housing for homeless individuals. AHP funds must be used to benefit households with incomes at or below 80 percent of the median income for the area.

In 2020, FHLB Dallas awarded $19.4 million in subsidies to 38 affordable housing projects. The subsidies will help create 2,749 new or rehabilitated housing units. Included in that total is almost $2.3 million in subsidies for 231 units of housing in Mississippi.

Since the AHP’s inception in 1990, FHLB Dallas has awarded more than $323 million in AHP and Homeownership Set-Aside Programs and has assisted more than 57,000 households.

"Home Bank’s commitment to helping the Natchez’s older and special-needs residents repair their homes is phenomenal," said Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas. "AHP is a great community investment tool that provides individuals and families with the opportunity to improve their living conditions."

For more information about the AHP, visit fhlb.com/ahp.

About Home Bank, N.A.

Home Bank, N.A., founded in 1908 as Home Building & Loan, is the oldest financial institution founded in Lafayette Parish. Through the years, we've expanded to serve markets in South Louisiana and Mississippi: Acadiana, Baton Rouge, New Orleans, the Northshore of Lake Pontchartrain, St. Martin and Jeff Davis Parishes, as well as Natchez and Vicksburg. With 40 locations across South Louisiana and Western Mississippi, Home Bank is committed to serving the needs of our communities. Personal banking has always been Home Bank’s trademark and that tradition continues as we grow, invest and serve our clients and community. We live our values each day, focusing on integrity, innovation and a commitment to serving others. For more information about Home Bank, visit home24bank.com.

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 $64.9 billion as of December 31, 2020, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to approximately 800 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit our website at fhlb.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210413006023/en/

Contacts

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