CONVERSE, Texas, Feb. 18, 2014 (GLOBE NEWSWIRE) -- Officials from the Federal Home Loan Bank of Dallas (FHLB Dallas) joined Broadway Bank to celebrate this month's reopening of Ellison Shelter, Boysville, Inc.'s newly renovated emergency shelter.
A photo accompanying this release is available at http://www.globenewswire.com/newsroom/prs/?pkgid=23684
Boysville is a comprehensive residential community in Converse, Texas, for children in crisis who can no longer remain in their home environment. FHLB Dallas and Broadway Bank awarded Boysville, Inc. a $500,000 Affordable Housing Program (AHP) grant in 2012 to assist with the rehabilitation of several housing facilities on the 30-year-old campus in an effort to reduce overhead and increase efficiency.
"Boysville, Inc. is a remarkable resource for children in our community needing to escape abusive and high-risk environments," said Broadway Bank Chief Investment Officer Randy Rouse. "Broadway Bank has been a longtime supporter of Boysville, both financially and through volunteer work. Through our partnership with FHLB Dallas and the AHP grant, we have been able to significantly improve the facilities on the Boysville campus and ultimately help provide more children with a safe living environment."
Also in attendance at the ribbon cutting was the mayor of Converse, Al Suarez.
"The community of Converse is very proud of the results that Boysville has accomplished over the years, we are very grateful for the partnership we have formed with the Federal Home Loan Bank of Dallas and the good that will come from the grant provided," said Mayor Suarez. "This is an organization that is a good fit for this area and we wholly support the organization, the leadership, and the kids that make this project successful."
Boysville, Inc. was founded in 1943 in San Antonio, Texas, and moved to its current campus in Converse, Texas, in 1983. The campus includes 10 living facilities. Two of those are designated as emergency shelters and have a total capacity of 30 children ages 1 to 17 years old. Five are designated as residential cottages for eight to 10 children in each. The children live in a family environment with a married couple as house parents. The remaining three cottages are for Boysville's Independent Living program for 18 to 22 year olds.
"The cottages are 30 years old, so there was a lot of infrastructure work that needed to be done," said Dave McIlvoy, director of development at Boysville. "The infrastructure upgrades from this grant are extremely important. Because these cottages are 30 years old, issues with the air conditioning systems and plumbing were beginning to result in the possibility of mold. These renovations are mitigating some really serious issues and health hazards by providing new heating, venting, and air conditioning systems, as well as providing energy savings. It's a huge upgrade that will allow us to take these 30-year-old cottages and make them last for another 30 years."
The Ellison facility is one of the two emergency shelters at Boysville. Eight years ago, Boysville had to close the building because the foundation had shifted so much there were gaps in the wall. "We literally didn't think we would ever find the money to make the repairs," Mr. McIlvoy said. "We considered tearing it down, but thanks to the FHLB Dallas program and Broadway Bank, we were able to get the grant that enabled us to fix the foundation, upgrade the infrastructure and reopen the building."
The Ellison Shelter houses children ages 5 to 17, who were just removed from situations of abuse or neglect. The children can stay at the shelter for 30 to 90 days while the staff evaluates whether they will move to one of the other Boysville cottages or if an alternative level of care is needed. The Ellison Shelter is the largest of the 10 living facilities. The renovation and re-opening increased that shelter capacity from 12 to 18 children.
With the Ellison Shelter renovations completed, Boysville has renovated two housing structures on its campus and is working on a third. Boysville plans to have all of the cottages renovated over the next year and a half.
AHP grants are available through FHLB Dallas member institutions, such as Broadway Bank, to assist in the development of affordable, owner-occupied and rental housing for very low- to moderate-income households located across its five-state District of Arkansas, Louisiana, Mississippi, New Mexico, and Texas. In 2013, FHLB Dallas awarded $11.3 million in AHP grants to 36 projects that will result 1,654 new or renovated housing units.
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 $31.3 billion as of September 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.
About Broadway Bank
Headquartered in San Antonio, Broadway Bank was founded in 1941. It has evolved from a small neighborhood bank into one of the largest independently-owned banks in Texas. Today, Broadway Bank continues to function as a family-owned and operated financial institution. Broadway Bank offers a full- range of sophisticated financial services, including personal banking, private banking, military banking, business banking and wealth management. With more than $2.9 billion in total assets, the highly rated bank operates 38 locations in San Antonio, Austin and the surrounding areas. Visit the Broadway Bank website at broadwaybank.com for more information.
The photo is also available via AP PhotoExpress.
Corporate Communications Federal Home Loan Bank of Dallas www.fhlb.com (214) 441-8445
