CLEVELAND, Miss. – (BUSINESS WIRE) – Planters Bank & Trust and the Federal Home Loan Bank of Dallas (FHLB Dallas) have awarded the City of Cleveland a $ 100,000 AHP grant to renovate homes for the elderly and disabled.
Cleveland City Clever Dominique Green said she was excited to see the outcome of the AHP scholarship in the community.
“Due to COVID-19 and its impact on our operations, we have not yet started renovating homes in our city,” said Ms. Green. “We hope that we can start in autumn at the earliest. However, we are excited about the impact the Affordable Housing Program will have on Cleveland. ”
Jimmy Clayton, chairman of Planters Bank & Trust, said the partnership between banks is important to improving the lives and homes of elderly and disabled community members in Cleveland.
“We are proud to support rewarding community programs such as the Cleveland City’s efforts to renovate the homes of the elderly and disabled in the city,” said Mr. Clayton. “By partnering with the Federal Home Loan Bank of Dallas in this Affordable Housing Program grant, we have been able to significantly increase the grant amount for the city so that together we can improve the homes and lives of these deserving families.”
AHP funds are intended to aid members of FHLB Dallas in financing the purchase, construction and / or renovation of condominiums, rental or transitional housing, and housing for the homeless in their community. AHP funds must be used for households whose income is at or below 80 percent of the median income in the region.
For 2019, the FHLB Dallas awarded $ 17 million in grants to 35 affordable housing projects. The grants will help create 2,122 new or refurbished housing units. This includes $ 4.6 million in grants for 466 housing units in the state of Mississippi. Since AHP was founded in 1990, FHLB Dallas has given more than $ 300 million to AHP and AHP decommissioning programs and assisted more than 53,500 households.
“It’s a wonderful feeling to be able to fund home repairs for the elderly and disabled that might not otherwise be done,” 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. ”
Further information on the AHP can be found at fhlb.com/ahp.
About Planters Bank & Trust
Founded in 1920 in Ruleville, MS, Planters Bank has grown into a regional banking system with over $ 1 billion in assets, serving 13 communities in 19 locations, and being the bank of choice for clients in Mississippi and the region.
Via the Federal Home Loan Bank of Dallas
The Federal Home Loan Bank of Dallas is one of 11 district banks in the FHLBank system, established 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 construction and community development by providing advances and other credit products at competitive prices to approximately 800 members and affiliates Institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas. visit fhlb.com for more informations.