Planters Bank & Trust and the Federal Home Loan Bank of Dallas (FHLB Dallas) have awarded a $100,000 Affordable Housing Program (AHP) grant to the city of Cleveland to renovate homes of elderly and disabled citizens.
Cleveland City Clerk Dominique Green said she is excited to see the result of the AHP grant within the community.
“Due to COVID-19 and its impact on our operations, we have not started renovations on homes in our city just yet,” said Ms. Green. “We’re hoping that we will be able to get started this fall at the earliest. We are, however, excited about the impact that the Affordable Housing Program will have on Cleveland.”
Jimmy Clayton, chairman of Planters Bank & Trust, said the partnership between the banks is important in helping improve the lives and homes of elderly and disabled community members in Cleveland.
“We are proud to support worthwhile community programs such as the city of Cleveland’s effort to renovate the homes of the city’s elderly and disabled,” said Mr. Clayton. “By joining with the Federal Home Loan Bank of Dallas on this Affordable Housing Program grant, we were able to significantly increase the grant amount to the city so that, together, we can improve the homes and the lives of these deserving families.”
AHP funds are intended to assist FHLB Dallas members in financing the purchase, construction and/or rehabilitation of owner-occupied, rental or transitional housing, as well as housing for homeless individuals in their community. AHP funds must be used to benefit households with incomes at or below 80 percent of the median income for the area.
For 2019, FHLB Dallas awarded $17 million in grants to 35 affordable housing projects. The grants will help create 2,122 new or rehabilitated housing units. Included in that total, are $4.6 million in grants for 466 units of housing in the state of Mississippi. Since the AHP’s inception in 1990, FHLB Dallas has awarded more than $300 million in AHP and AHP set-aside programs and has assisted more than 53,500 households.
“It’s a wonderful feeling to be able to fund home repairs for the elderly and disabled that otherwise might not be made,” said Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas. “This is a great example of what members like Planters Bank & Trust and strong community partners like the city of Cleveland can achieve through our Affordable Housing Program. Together we can improve people’s lives by improving their homes.”
For more information about the AHP, visit fhlb.com/ahp.
About Planters Bank & Trust
Founded in 1920 in Ruleville, MS, Planters Bank has grown to a region-wide banking system, with assets in excess of one billion dollars, serving 13 communities in 19 locations, as the bank of choice for customers across Mississippi and the region.
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 $75 billion as of June 30, 2020, is a member-owned cooperative that supports housing and community development by providing competitively priced advances and other credit products to approximately 800 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. Visit fhlb.com for more information.
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Contacts:
Federal Home Loan Bank of Dallas
fhlb.com
(214) 441-8445
