SHREVEPORT, La., Oct. 1, 2013 (GLOBE NEWSWIRE) -- Red River Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas) are pleased to announce they have awarded $941,000 in Affordable Housing Program (AHP) grants to two community organizations – Holy Angels and Volunteers of America National Services.
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The banks conducted a check presentation yesterday on Holy Angels' campus, where they were joined by numerous state and local officials, including Shreveport, Louisiana Mayor Cedric Glover.
"I couldn't be more pleased to see these two outstanding organizations receive such well-deserved grants," Mayor Glover said. "The work done by the fine folks at Holy Angels and Volunteers of America touch so many lives in our community and I know these funds will enable them to continue their noble missions to serve."
State Senator Sherri Smith Buffington applauded the collaboration of Red River Bank and FHLB Dallas to assist local organizations in their missions.
"Our community helps take care of its own," Senator Buffington said. "These grants from Red River Bank and the Federal Home Loan Bank of Dallas to Holy Angels and Volunteers of America National Services are great examples of local corporate leadership supporting two organizations that help others every day."
Several other state and local officials attended the event in support of the projects, including State Representative Roy Burrell, State Senator Barrow Peacock; Michael Jackson and Tari Bradford, regional manager and deputy state director, respectively, for U.S. Senator Mary Landrieu's office; Leslie Quinn, community liaison at U.S. Senator David Vitter's office; and Bonnie Moore, director of community development for Mayor Glover's office.
Holy Angels was awarded two AHP grants – one for $385,000 to renovate Madonna Hall, one of its dorms, and another for $56,000 to create a handicap accessible bathroom and renovate the kitchen in the Fay Home, one of its group homes. A $500,000 AHP grant was awarded to Volunteers of America National Services to assist with the construction of a 50-unit apartment complex in Shreveport for very low-income elderly residents.
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 2002, FHLB Dallas has awarded more than $2.3 million in AHP, AHP set-aside, and other specialized grant funds through Red River Bank.
"Red River Bank has been a valued partner who truly understands FHLB Dallas' mission to support the expansion of affordable housing opportunities and community revitalization within the communities our members serve," said Greg Hettrick, vice president and director of community investment at FHLB Dallas. "We're pleased to celebrate the awarding of three more grants through Red River Bank, and we look forward to continuing our partnership in the future."
Harold Turner, Shreveport/Bossier City market president for Red River Bank, said yesterday's event reflected Red River Bank's commitment to the community.
"Red River Bank is proud to be able to play a part in helping these very important organizations in our community," Mr. Turner said. "As a local community bank, we look for ways to partner with organizations such as these that truly make this community a better place to live, work and raise our families."
Renovations to the dorm include adding three handicap-accessible bathrooms, upgrading bedrooms, existing baths, and common areas, and replacing aged and unsafe flooring throughout the dorm. The residents currently residing in the dorm include aging residents with failing health, and accessible bathrooms and safe living areas are a critical need.
"These renovations will provide our residents with more accessible areas for bathing, and will also provide options for dining and recreation in closer proximity to their living space," said Holy Angels CEO Laurie Boswell.
The Fay Home, which houses eight male residents with developmental disabilities, has four bathrooms, but there is limited handicap-accessibility. In addition, its kitchen is inefficient and crowded.
Holy Angels plans to demolish one of the existing bathrooms and create a handicap-accessible bathroom on the back of the home. The bathroom that is removed will become the passageway to the additional 9-by-16-foot addition. The new bath area will contain an ADA compliant shower, sinks, and bathing facilities. The kitchen will be remodeled to create a more open and accessible work area. The cooking area will be relocated, new cabinets will be installed, and the refrigerator and freezer will be relocated.
Volunteers of America will use its $500,000 AHP grant toward construction costs for South Point Place. Once constructed, the apartment complex will contain one-bedroom, one-bath apartments, as well as community areas for social, educational, and recreational activities. Five percent of the units will be designed to be accessible for people in wheelchairs.
"Words can't express my gratitude to have this kind of support from the Federal Home Loan Bank of Dallas and Red River Bank," said Chuck Meehan, President and CEO of Volunteers of America North Louisiana. "This project is critically important and, in my opinion, addresses one of the most critical needs in our community. I'm pleased I can express thanks on behalf of those that will benefit from this grant."
Mr. Meehan was also pleased he could share in the grant presentation with another great community organization.
"Holy Angels is a great organization in the local community and I'm glad they are receiving a grant as well," he said.
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 $32.7 billion as of June 30, 2013 is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to approximately 900 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas. For more information, visit the FHLB Dallas website at fhlb.com .
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Corporate Communications Federal Home Loan Bank of Dallas www.fhlb.com (214) 441-8445
