The Federal Home Loan Bank of Dallas and Home Bank recently partnered to present $8,000 to a Louisiana nonprofit, Crescent City Community Land Trust (CCCLT). According to the Business Wire press release, the money came from Partnership Grant Program funds.
CCCLT’s mission is to help low and moderate-income residents in Louisiana purchase their first home. They can offer permanently affordable housing opportunities through housing advocacy, community stewardship, and equitable residential and commercial development.
The Executive Director of CCCLT, Julius Kimbrough Jr., said the funding would significantly help getting first-time home buyers into a house.
“Much of the community we serve has never owned or been able to afford a home, and closing costs can sometimes push homeownership out of range for our buyers,” Kimbrough Jr. said in the press release. “The Partnership Grant Program funds will help us continue providing closing costs to first-time homebuyers.”
According to Kelvin Luster, the senior Vice President and community development director at Home Bank, the Partnership Grant Program is vital to nonprofits like Crescent City Community Land Trust.
“These funds can help nonprofits expand several important programs. Not only do the organizations benefit, but the community does as well. The ability to aid the community, and this grant, is a direct result of Home Bank’s partnership with FHLB Dallas,” Luster said.
In 2021 alone, PGP grants from FHLB Dallas awarded $400,000 to nonprofits. An additional $200,250 came from its members, leading to a total of just over $600,000. These grants were used in their five-state district of Arkansas, Louisiana, Mississippi, New Mexico, and Texas.
According to FHLB Dallas First Vice President and Director of Community Investment Greg Hettrick, these grants strengthen relationships in the community.
“I commend Home Bank for its strong commitment and engagement with organizations such as CCCLT,” Hettrick said. “The PGP helps member institutions strengthen their relationships with community-based organizations and allows them to create an impact in their communities.”
Another $10,000 was recently awarded to the nonprofit Mountain of Faith Ministries in Mississippi. The FHLB press release stated this grant would further the organization’s work. They offer a 24-month restoration shelter for homeless women and children and a 90-day emergency shelter.
They also have alcohol and drug abuse treatment.
The executive director of Mountain of Faith Ministries, Betty James, said this was not the first time they received a grant from FHLB.
“This is the second time in the past three years that Home Bank and FHLB Dallas have supported us with PGP funds, and it is greatly appreciated,” James said in the press release.
Mountain of Faith Ministries and Crescent City Community Land Trust both celebrated the funding during ceremonial check presentations.
“We are pleased to support Mountain of Faith Ministries as it serves some of the most vulnerable people in the Vicksburg community,” Luster said. “This PGP grant will provide them the resources they need to continue their mission, and we are honored to be a part of it.”
Hettrick added, “Home Bank has been an active participant in the PGP, and we are partnering with them on a number of grants this year. Grassroots involvement like that of Home Bank shows a bank really cares about the communities it serves.”