Affordable housing for senior citizens is one step closer to a groundbreaking, thanks to the Federal Home Loan Bank of Dallas.
Red River Bank and FHLB Dallas presented $941,000 in Affordable Housing Program (AHP) grants to Holy Angels and Volunteers of America National Services Monday.
A $500,000 AHP grant was awarded to Volunteers of America National Services to assist with the construction of a 50-unit apartment complex for seniors in need of affordable housing in East Shreveport. Holy Angels was awarded $441,000 to remodel some of its residential building.
Volunteers of America North Louisiana was one of the first organizations in the area to provide housing for people with disabilities and mental illness.
“By virtue of serving those people as long as we have, they have become senior adults,” Volunteers of America CEO Chuck Meehan said. “Thank you to Federal Home Loan Bank and Red River Bank for making it possible.”
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. FHLB Dallas previously awarded money to Volunteers of America North Louisiana for the Veterans Transitional Living Home.
“Federal Home Loan Bank of Dallas is very happy to help further the mission of these organizations,” said Greg Hettrick, VP, Director of Community Investment. “It’s great to see new housing come out of the ground.”