Community Students Learning Center Receives $596K to Rehab Housing

BankPlus and FHLB Dallas Provide Funds for Mostly Rural Homeowners

LEXINGTON, Miss.--(BUSINESS WIRE)--BankPlus and the Federal Home Loan Bank of Dallas (FHLB Dallas) have awarded a $596,160 Affordable Housing Program (AHP) subsidy to Community Students Learning Center (CSLC) to rehabilitate 60 homes for low-income, special-needs homeowners.

The funds will primarily assist individuals with mobility limitations who need wheelchair ramps, bathroom lift bars or wider doorways, but other individuals who own their own home and meet income restrictions may also qualify for help. Eighty percent of the homes are in the rural area of Mississippi’s Holmes County, and the remaining 20 percent are in an economically diverse area.

“Applicants will be offered home maintenance training,” said Beulah Greer, CSLC executive director. “With the help of the Affordable Housing Program subsidy, we are able to provide a program that is very much-needed in the community, at no cost.”

BankPlus First Vice President and Director of Affordable Housing, Mark Ouellette, said the AHP helps the bank create a footprint in its community.

“The Affordable Housing Program is a great offering that allows BankPlus to provide organizations with support to improve housing quality and availability,” said Mr. Ouellette. “BankPlus is excited to partner with the Federal Home Loan Bank of Dallas and work with Community Students Learning Center to carry out its mission.”

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.

In 2020, FHLB Dallas awarded $19.3 million in subsidies to 38 affordable housing projects. The funds will help create 2,749 new or rehabilitated housing units. Included in that total are $2.3 million in subsidies for 231 units of housing in the state of Mississippi.

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.

“Residents in rural areas are oftentimes forgotten when it comes to helping those in need with affordable housing,” said Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas. “We are honored to partner with BankPlus to help Community Students Learning Center achieve its project goals.”

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

About BankPlus

Founded in 1909, BankPlus is one of the Southeast’s premier regional banks serving consumers and businesses with the latest technology through a full suite of financial services, including retail banking, commercial banking, mortgage lending and wealth management. With approximately $4.5 billion in total assets, BankPlus operates 79 financial centers throughout Mississippi, Alabama and Louisiana. For more information about BankPlus, visit bankplus.net.

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 $64.9 billion as of December 31, 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.