RICHMOND, Texas – (COMMERCIAL THREAD) – CommunityBank of Texas, NA and the Federal Home Loan Bank of Dallas (FHLB Dallas) have awarded a $ 236,500 Affordable Housing Program (AHP) grant to the Fort Bend Women’s Center (FBWC) for an expansion of 3, $ 8 million from its long-term housing community.
FBWC helps survivors of domestic violence and sexual assault and their children find safety and self-sufficiency. He operates the only crisis helpline and emergency shelter for survivors of domestic violence and sexual assault in Fort Bend County, Texas.
The FBWC plans to build 22 additional new units in its long-term shelter for a combined total of 49 units where survivors of abuse and their families can stay until they reach their goal of self-reliance.
“When survivors and their children are ready to leave the emergency shelter and move on to independence, one of the main factors that could cause them to return to their abuser is the inability to find affordable housing.” , said Vita Goodell, Executive Director. of the FBWC. “Funding from CommunityBank of Texas and FHLB Dallas will help us build much needed housing. ”
AHP funds are intended to help FHLB Dallas members finance the purchase, construction and / or rehabilitation of owner-occupied, rental or transitional housing and housing for the homeless. AHP funds should be used to benefit households with incomes equal to or less than 80 percent of the region’s median income.
“We are proud to be part of the FBWC’s long-term vision to break the cycle of domestic violence,” said Brandi Gregg, executive vice president and chief compliance officer at CommunityBank of Texas.
In 2020, FHLB Dallas awarded $ 19.3 million in grants to 38 affordable housing projects. The subsidies will make it possible to create 2,749 new or rehabilitated housing units. That total includes $ 10.2 million in grants for 1,475 housing units in Texas.
Since the inception of the AHP in 1990, the FHLB Dallas has provided more than $ 323 million under the AHP and Homeownership Reserve programs and has assisted more than 57,000 households.
“The longer-term community of FBWC will house women and children who may otherwise find themselves homeless or face a return to violence. It’s an example of how AHP funding can improve lives, ”said Greg Hettrick, senior vice president and director of community investment at FHLB Dallas. “We are delighted to partner with CommunityBank of Texas on the vision for FBWC. ”
For more information on AHP, visit fhlb.com/ahp.
About CommunityBank of Texas
CommunityBank of Texas, NA is a commercial bank providing solutions to small to medium-sized businesses and professionals in Houston, Dallas, Beaumont and surrounding communities in Southeast Texas. CommunityBank of Texas, NA is the wholly owned banking subsidiary of CBTX, Inc., a banking holding company listed on the Nasdaq Global Select Market under the symbol “CBTX”. Visit communitybankoftx.com for more information.
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 established by Congress in 1932. FHLB Dallas, with total assets of $ 66.3 billion as of September 30, 2020, is a co-operative owned by its members which supports housing and community development by providing competitively priced loans and other credit products to approximately 800 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit our website at fhlb.com.