BREAKING NEWS The Coast Guard and partner agencies are searching for a missing person near the Highway 11 drawbridge in Lake Pontchartrain. Full Story
BREAKING NEWS Driver Killed, Passenger Injured in Single-Vehicle Crash in Vermilion Parish Full Story

Nearly $2.6 Million Disbursed for Affordable Housing Projects

Home Bank and the Federal Home Loan Bank of Dallas have awarded Affordable Housing Program subsidies that will allow 365 housing properties to be renovated or built in the state.

Posted: Feb 19, 2021 4:45 PM
Updated: Feb 19, 2021 4:46 PM

LAFAYETTE, LOUISIANA, February 19, 2021 – Home Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas) have awarded Affordable Housing Program (AHP) subsidies that will allow 365 housing properties to be renovated or built in the state.

The following organizations received funds:

Gulf Coast Housing Partnership, $280,000, Lockport

The Les Maisons de Bayou Lafourche project involves the construction of 35 single-family homes. The one-, two- and three-bedroom homes will include native-plant landscaping, metal gabled roofs and EnergyStar appliances.

Habitat for Humanity St. Tammany West, $120,000, Abita Springs/Covington

The organization’s project, Building Dreams Together, will allow income-qualified, first-time homebuyers to help build and buy their own homes. The funds will be used for down payment and/or closing cost assistance.

Iris Development, $750,000, Houma 

Iris Development’s Renaissance Oaks project will redevelop 122 apartment units for low-income and special-needs residents. Neighborhood Restoration of Baton Rouge will partner with Iris Development on the project that will provide two- and three-bedroom apartments.

Iris Development, $680,000, New Orleans

The Hano Rental Scattered Sites Development will build 97 rental units on vacant public housing lots for very low-income, special-needs individuals and homeless people. Residents will be offered workforce development training and financial literacy education. Construction began in the summer of 2020, and the project is expected to be complete by August 2022.

Partners-for-Progress Inc., $750,000, Baton Rouge

Partners-for-Progress Inc.’s project, Cypress at Gardere Senior Housing, will provide a 99-unit apartment for older adults with fixed incomes. Resource efficient design and building materials will be used to reduce natural resource consumption. Additionally, the units will be upgraded with new appliances, fire and security systems, mechanical systems and HVAC upgrades.

Brandon Kelly, Home Bank vice president and Community Development director, said the number of organizations providing affordable housing in Louisiana was admirable.

“Home Bank acknowledges that affordable housing for Louisiana residents is essential, and the pandemic has really brought that to light,” Mr. Kelly said. “We are honored to work with FHLB Dallas to help these organizations reach their goals.” 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.

For 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 $4.6 millionin subsidies for 764 units of housing in Louisiana.

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 57,0 00 households.

“FHLB Dallas has partnered with Home Bank numerous times in the past, and we love the work they do with local Louisiana organizations,” said Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas.

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

Lafayette
Clear
46° wxIcon
Hi: 65° Lo: 44°
Feels Like: 43°
New Iberia
Clear
48° wxIcon
Hi: 66° Lo: 47°
Feels Like: 43°
Opelousas
Clear
41° wxIcon
Hi: 65° Lo: 42°
Feels Like: 41°
Abbeville
Clear
44° wxIcon
Hi: 66° Lo: 47°
Feels Like: 41°
Jennings
Clear
46° wxIcon
Hi: 64° Lo: 46°
Feels Like: 43°
New Iberia
Clear
48° wxIcon
Hi: 66° Lo: 47°
Feels Like: 43°
Opelousas
Clear
41° wxIcon
Hi: 65° Lo: 43°
Feels Like: 41°
Warm and Quiet Weather this Week

Latest Video

Image

Cool and Sunny Sunday

Image

Early Voting in St. Landry

Image

Church In Eunice Vandalized

Image

cajuns sun belt men's preview

Image

Tracking rain tonight, then clearing up!

Image

Council on Aging Raffle

Image

Al Takes On Delcambre

Image

Louisiana Phase 3, Church

Image

News15 At Noon Turns 3! Celebrate With A Moscow Mule

Image

Easy Easter Basket Ideas

Community Events