Partnership Grant Program Provides Funds to Affordable Housing Nonprofit
GULFPORT, Miss.–(BUSINESS WIRE)–#FHLB–Hancock Whitney and the Federal Home Loan Bank of Dallas (FHLB Dallas) have awarded $14,000 in Partnership Grant Program (PGP) funds to Gulf Coast Housing Initiative (GCHI), which develops affordable housing in Gulfport, Mississippi.
PGP grants help qualified nonprofit organizations fund a variety of operational and administrative activities that are critical to serving their communities.
GCHI recently completed a house rehabilitation in the Gaston Point Community of Gulfport where it acquired and renovated a home that was sold to a buyer enrolled in the Section 8 Homeownership Voucher Program. It also has two others being built in another Gulfport community that are nearing completion.
Everett Lewis, executive director of GCHI, said the nonprofit plans to use a portion of the PGP funding to hire, on contract, someone to provide community liaison services. It will use remaining funds for operational and administrative services including surveying costs and architectural fees.
“We want to provide the opportunity for individuals and families to live in affordable and safe homes,” Mr. Lewis said. “So many people struggle to find and maintain homes that are affordable, and we want to help take that burden off their plate.”
Hancock Whitney Senior Vice President and Director of Community Development Anthony Montgomery said the bank supports Gulf Coast Housing Initiative’s mission.
“Its mission of stable and affordable housing is more critical than ever in today’s environment of rising home prices,” Mr. Montgomery said.
For 2021, FHLB Dallas awarded $400,000 in PGP grants, and its members provided an additional $200,250 for an impact of more than $600,000 in its five-state District of Arkansas, Louisiana, Mississippi, New Mexico and Texas.
FHLB Dallas First Vice President and Director of Community Investment Greg Hettrick said the PGP is beneficial for all parties involved.
“FHLB Dallas’ 3:1 match highlights the partnership aspect of the program, making it uniquely beneficial on different levels,” said Mr. Hettrick. “Hancock Whitney has the opportunity to strengthen its ties with the community, while the community is able to benefit from the partnership and funds.”
About Hancock Whitney
Since the late 1800s, Hancock Whitney has embodied core values of Honor & Integrity, Strength & Stability, Commitment to Service, Teamwork, and Personal Responsibility. Hancock Whitney offices and financial centers in Mississippi, Alabama, Florida, Louisiana, and Texas offer comprehensive financial products and services, including traditional and online banking; commercial and small business banking; private banking; trust and investment services; healthcare banking; certain insurance services; and mortgage services. The company also operates a loan production office in Nashville, Tennessee. BauerFinancial, Inc., the nation’s leading independent bank rating and analysis firm, consistently recommends Hancock Whitney as one of America’s most financially sound banks. More information is available at www.hancockwhitney.com.
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 $61.1 billion as of March 31, 2021, is a member-owned cooperative that 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.
Federal Home Loan Bank of Dallas