GREENVILLE, Miss.--(BUSINESS WIRE)--U.S. Congressman Bennie Thompson, D-MS, joined Planters Bank and Trust Company and the Federal Home Loan Bank of Dallas (FHLB Dallas) representatives last Thursday to attend a walking tour of the Reserves at Gray Park.
The Reserves at Gray Park is a mixed use, mixed income, in-fill housing development built on eight acres of land donated by the city to Greater Greenville Housing and Revitalization Association (GGHRA) in November 2014, with 42 apartment units for families at or below 80 percent of the area median income. Hailed as the Delta’s first sustainable, healthy community, the community consists of one-, two- and three-bedroom units.
“I want to commend the Greater Greenville Housing and Revitalization Association, Planters Bank and FHLB Dallas for their support of the many families that call the Reserves at Gray Park home,” Congressman Thompson said. “Safe, affordable housing is a critical component of any healthy community, and we must continue working together to provide resources for those in need.”
GGHRA received a $224,000 Affordable Housing Program (AHP) grant from Planters Bank and Trust Company and FHLB Dallas in 2018, aiding in development expenses for the Reserves at Gray Park project. Planters Bank and Trust Company has utilized FHLB Dallas products and partnered together on programs such as the AHP for nearly two decades.
The event on Thursday was hosted by GGHRA and FHLB Dallas.
FHLB Dallas annually returns 10 percent of its profits in the form of AHP grants to the communities served by its member institutions, like Planters Bank and Trust Company. AHP grants fund a variety of projects, including home rehabilitation and modifications for low-income, elderly and special-needs residents; down payment and closing cost assistance for qualified first-time homebuyers; and the construction of low-income, multifamily rental communities and single-family homes.
“We’ve worked with FHLB Dallas for more than 20 years and when you have partners like that and the support of policymakers, like Congressman Thompson, who are committed to supporting affordable housing in our communities, it’s a win-win,” said Jimmy Clayton, president and CEO of Planters Bank and Trust Company. “A big part of the effectiveness of our community investment initiatives is the influence of our elected officials, who advocate for our citizens and our communities.”
FHLB Dallas awards AHP grants annually, through members like Planters Bank and Trust Company, to support the creation or rehabilitation of affordable housing units, among other uses.
“Our relationships with members like Planters Bank and Trust Company and funds from the AHP grant served as significant factors in the successful development of affordable housing communities like the Reserves at Gray Park,” said FHLB Dallas First Vice President and Director of Community Investment Greg Hettrick. “When we all come together, we can do a lot of good for a lot of residents and a lot of communities.”
Other FHLB Dallas representatives in attendance included FHLB Dallas Advisory Council Member Angela Curry and Board Director Dianne Bolen.
In 2018, FHLB Dallas awarded $14 million in AHP grants to 29 projects that will result in 1,853 new or renovated housing units. Of that, $6.2 million was awarded to Mississippi projects and will result in 897 new or rehabilitated housing units.
For more information about the AHP, visit fhlb.com/ahp
About Planters Bank and Trust
Founded in 1920 in Ruleville, MS, Planters Bank has grown to a region-wide banking system, with assets in excess of one billion dollars, serving 13 communities in 19 locations, as the bank of choice for customers across Mississippi and the region.
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 $74.5 billion as of June 30, 2019, is a member-owned cooperative that supports housing and community development by providing competitively priced advances and other credit products to approximately 820 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. Visit fhlb.com for more information.
