$16K Grant to Help NOLA Residents Participate in Local Government

FHLB Dallas and Gulf Coast Bank & Trust Support the Committee for a Better New Orleans

The Committee for a Better New Orleans was awarded a $16,000 grant August 23, 2016, by the Federal Home Loan Bank of Dallas and Gulf Coast Bank & Trust in New Orleans. Pictured from left to right are Greg Hettrick, Guy Williams, Nicole Dillard, Anthony Carter, and Keith Twitchell. (Photo: Business Wire)

NEW ORLEANS--()--The Committee for a Better New Orleans (CBNO) today received a $16,000 grant through the Partnership Grant Program (PGP) from the Federal Home Loan Bank of Dallas (FHLB Dallas) and Gulf Coast Bank & Trust. The funds will be used to support two initiatives, the Big Easy Budget Game and the Lower 9th Ward Participatory Budgeting program.

Through this grant, CBNO will continue its efforts to inform residents from all walks of life about the Big Easy Budget Game. The website, created by CBNO in English and Spanish, encourages NOLA residents to create their own city budgets, which will be compiled into “The People’s Budget” and presented to the mayor and City Council later this year.

The PGP funding will also support the Lower 9th Ward Participatory Budgeting program. The participatory budgeting concept, first established in Brazil in the 1980s, designates funds for an area, such as a city or town, and then convenes citizens to set priorities and come up with related projects. Examples include a community garden, computers for schools, and transportation for seniors.

“The Lower 9th Ward project is the first time the concept has been tried outside the scope of city government,” said CBNO President Keith G.C. Twitchell. “Chicago was the first U.S. metro area to adopt participatory budgeting. We are in the early stages of the process in the Lower 9th Ward. At the end, we will have a budget, an implementation plan, and so forth. The community will come back together to vote on projects until the money runs out.”

Through the PGP, member institutions, such as Gulf Coast Bank & Trust, contribute $500 up to $4,000 to a community-based organization (CBO). FHLB Dallas matches the contributions at a 3:1 ratio, which provide up to $12,000 in grant money to a CBO.

“Gulf Coast Bank & Trust has been a supporter of the Committee for a Better New Orleans for many years,” said Guy Williams, president and CEO of Gulf Coast Bank & Trust. “We share in their local commitment, and now, with this first PGP grant, we extend our thanks to FHLB Dallas to provide greater financial resources. The grant will positively impact the lives of New Orleans’ citizens.”

The CBNO is the successor organization to the Metropolitan Area Committee (MAC), which was established in 1966 to promote dialogue during the Civil Rights era. The two organizations merged in 2001, taking the CBNO designation and continuing the MAC’s focus on public education and open and accountable government.

PGP grants are offered annually through FHLB Dallas' member institutions via a lottery system. Funds may be used for research, organizational capacity-building, grant- and funding-application assistance, or contractual services. In 2016, FHLB Dallas awarded $225,000 in PGP funds to assist 23 CBOs. Combined with the $96,200 from member institutions, a total of $321,200 was awarded this year.

“FHLB Dallas established the PGP to help nonprofits fill in funding gaps,” said Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas. “Common expenses, such as administrative and operational costs, may be paid for with PGP funds. The program is available only through our member institutions and has helped hundreds of CBOs.”

About Gulf Coast Bank & Trust

Gulf Coast Bank & Trust is a $1.5 billion community bank with 19 branches located throughout southeast Louisiana. The bank is one of the largest home mortgage and small business lenders in New Orleans.

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 $54.4 billion as of June 30, 2016, is a member-owned cooperative that supports housing and community development by providing competitively priced advances and other credit products to approximately 850 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas. Visit fhlb.com for more information.

Contacts

Federal Home Loan Bank of Dallas
Corporate Communications, 214-441-8445
www.fhlb.com

Release Summary

The Committee for a Better New Orleans received a $16,000 grant August 23, 2016, through the Partnership Grant Program from the Federal Home Loan Bank of Dallas and Gulf Coast Bank & Trust.

Contacts

Federal Home Loan Bank of Dallas
Corporate Communications, 214-441-8445
www.fhlb.com