Fort Bend Women’s Center Receives $236,500 for Housing

CommunityBank of Texas and FHLB Dallas Provide Funds for Longer-Term Solution

RICHMOND, Texas--(BUSINESS WIRE)--CommunityBank of Texas, N.A. and the Federal Home Loan Bank of Dallas (FHLB Dallas) have awarded a $236,500 Affordable Housing Program (AHP) subsidy to Fort Bend Women’s Center (FBWC) for a $3.8 million expansion of its longer-stay housing community.

FBWC helps survivors of domestic violence and sexual assault and their children find safety and self-sufficiency. It operates the only crisis hotline and emergency shelter for survivors of domestic violence and sexual assault in Fort Bend County, Texas.

FBWC plans to build an additional 22 new units at its longer-stay housing facility for a combined total of 49 units where abuse survivors and their families can stay until they meet their goal of self-sufficiency.

“When survivors and their children are ready to exit the emergency shelter and transition to independence, one of the chief factors that could cause them to return to their abuser is the inability to find an affordable place to live,” said Vita Goodell, executive director of FBWC. “The funds from CommunityBank of Texas and FHLB Dallas will help us build much-needed housing.”

AHP funds are intended to assist FHLB Dallas members in financing the purchase, construction and/or rehabilitation of owner-occupied, rental or transitional housing and housing for homeless individuals. AHP funds must be used to benefit households with incomes at or below 80 percent of the median income for the area.

“We are proud to be part of FBWC’s long-term vision in breaking 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 subsidies to 38 affordable housing projects. The subsidies will help create 2,749 new or rehabilitated housing units. Included in that total is $10.2 million in subsidies for 1,475 units of housing in Texas.

Since the AHP’s inception in 1990, FHLB Dallas has awarded more than $323 million in AHP and Homeownership Set-Aside Programs and has assisted more than 57,000 households.

“FBWC’s longer-term community will house women and children who might otherwise be homeless or face returning to an abusive situation. It’s an example of the way AHP funding can change lives for the better,” said Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas. “We are pleased to partner with CommunityBank of Texas on FBWC’s vision.”

For more information about the AHP, visit fhlb.com/ahp.

About CommunityBank of Texas

CommunityBank of Texas, N.A. is a commercial bank offering solutions to small and midsized businesses and professionals in Houston, Dallas, Beaumont, and surrounding communities in southeast Texas. CommunityBank of Texas, N.A. is the wholly-owned bank subsidiary of CBTX, Inc., a bank holding company traded 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 created by Congress in 1932. FHLB Dallas, with total assets of $66.3 billion as of September 30, 2020, 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.