Horizon Bank Champions Affordable Housing Initiatives
Horizon Bank is excited to share that the Federal Home Loan Bank of Dallas (FHLB) has granted significant funding to support the Guadalupe Neighborhood Development Corporation (GNDC) with their Escuela Nueva project. The funding amounts to $2,000,000 and aims to enhance affordable housing initiatives in the community.
Collaboration with Guadalupe Neighborhood Development Corporation
Through this grant, Horizon Bank strengthens its partnership with GNDC, an organization committed to providing essential housing solutions for families and individuals facing economic challenges. James Dyess, CEO of Horizon Bank, commented, "GNDC is an important partner in our community. Their dedication to creating housing opportunities is commendable, and we are thrilled to assist them in this vital endeavor."
The Impact of the FHLB Grant
The FHLB’s Affordable Housing Program grants for 2024 have been instrumental in promoting development and increasing housing availability, specifically targeting households that earn 80 percent or less of the area median income. The Escuela Nueva project exemplifies how such initiatives can significantly benefit local communities.
Escuela Nueva Project Details
The Escuela Nueva project is an ambitious undertaking aimed at expanding the current 501(c)(3) campus that serves preschool children. Plans are in motion to broaden its reach, which will include providing 114 units of affordable housing for families and seniors, thereby supporting those in need within the community.
About Horizon Bank
Horizon Bank, based in Central Texas, boasts assets amounting to $2.4 billion, making it one of the largest community banks in the area. The bank prides itself on fostering long-lasting relationships with its customers and local businesses. Horizon Bank remains dedicated to community growth and support through its various initiatives, including this grant aimed at improving affordable housing.
Commitment to Community Development
Continuing to prioritize community engagement, Horizon Bank emphasizes the importance of partnerships like that with GNDC. The bank's proactive approach in supporting programs focused on affordable housing demonstrates its commitment to addressing pressing community needs.
Frequently Asked Questions
What is the amount of the FHLB grant awarded to GNDC?
The FHLB grant awarded to the Guadalupe Neighborhood Development Corporation amounts to $2,000,000.
What is the purpose of the Escuela Nueva project?
The Escuela Nueva project aims to expand a preschool campus and develop affordable housing units for families and seniors.
Who is James Dyess?
James Dyess is the Chief Executive Officer of Horizon Bank, who has emphasized the importance of GNDC's work in the community.
What type of bank is Horizon Bank?
Horizon Bank is a community bank based in Central Texas, known for its significant asset base and community-oriented services.
How does the FHLB grant affect the local community?
The FHLB grant helps increase affordable housing options for low-income households, addressing essential housing needs within the community.
