For many families in Northwest Louisiana, the dream of homeownership is becoming a reality thanks to a $45,000 grant from the Federal Home Loan Bank of Dallas (FHLB Dallas) and four local banks. The funds, awarded to the Fuller Center for Housing of NWLA (Fuller Center), will help cover administrative costs for the construction of 10 new homes next spring as part of the Fuller Center’s 20th Anniversary Legacy Build.
Representatives from FHLB Dallas, Cadence Bank, Origin Bank, Progressive Bank and Red River Bank gathered today to celebrate the Partnership Grant Program (PGP) and the award to Fuller Center during a ceremonial check presentation in Bossier City, Louisiana, at the site where the homes will be built.
The grants were part of $1.2 million in PGP funds distributed through FHLB Dallas member institutions this year.
“These grants will help us do more than build homes,” said Lee A. Jeter, executive director with the Fuller Center. “They will help build stable futures.”
The Fuller Center provides affordable houses to low- to moderate-income households in the Shreveport-Bossier City area who are unable to secure traditional financing. Homebuyers receive no-interest mortgages with affordable payments.
“We are honored to support the Fuller Center’s mission of providing affordable housing,” said Stefanie Y’Barbo, first vice president at Cadence Bank. “This grant will help build lasting change.”
Origin Bank said investing in affordable housing strengthens the community.
“Origin Bank is proud to partner with FHLB Dallas and the Fuller Center to make homeownership possible for more families,” said Larry Little, state president at Origin Bank.
Caleb Burns, senior vice president at Progressive Bank, said Progressive was looking forward to the impact of the new homes.
“Providing affordable housing is a net positive for the Shreveport-Bossier City area, and we are eager to see this development take place,” he said.
Red River Bank said support for the project made sense.
“Fuller Center is making a positive impact by helping more residents become homeowners,” said Judy Madison, vice president of Mortgage Lending at Red River Bank.
Housing affordability and economic development is at the cornerstone of the PGP, and the Fuller Center’s work fits hand-in-hand with that, said Greg Hettrick, senior vice president and director of Community Investment at FHLB Dallas.
“We’re proud to collaborate with our members to deliver PGP funding that supports organizations like the Fuller Center in helping people achieve the American Dream of homeownership,” he said.