Hancock Whitney and FHLB Dallas award $14K to Gulf Coast Housing Initiative
GULFPORT, Miss. (WLOX) - Hancock Whitney and the Federal Home Loan Bank of Dallas gave $14,000 to the Gulf Coast Housing Initiative on Wednesday.
GCHI Executive Director Everett Lewis said the nonprofit plans to use a portion of the funding to hire someone on contract to provide community liaison services. They will use the remaining funds for operational and administrative services including surveying costs and architectural fees.
“We want to provide the opportunity for individuals and families to live in affordable and safe homes,” said Lewis. “Many people struggle to find and maintain homes that are affordable, and we want to help take that burden off their plate.”
The money was given in the form of a partnership grant program, which is a program that allows qualified non-profit organizations to fund a variety of activities. This PGP enabled Hancock Whitney to contribute $500 - $4,000 to a community-based organization, which FHLB Dallas matches at a 3:1 ratio.
GCHI recently completed a house rehabilitation in the Gaston Point Community of Gulfport and renovated a home sold to a Section 8 Homeownership Voucher Program enrollee. It also has two more houses near completion in another Gulfport community.
Hancock Whitney Senior Vice President and Director of Community Development Anthony Montgomery said the bank supports Gulf Coast Housing Initiative’s mission.
“Gulf Coast Housing Initiative’s mission of stable and affordable housing is more critical than ever in today’s environment of rising home prices,” said Montgomery.
For 2021, FHLB Dallas awarded $400,000 in PGP grants, and its members provided an additional $200,250 for an impact of more than $600,000 in Arkansas, Louisiana, Mississippi, New Mexico and Texas.
FHLB Dallas First Vice President and Director of Community Investment Greg Hettrick said the program is beneficial for all parties involved.
“FHLB Dallas’ 3:1 match highlights the partnership aspect of the program, making it uniquely beneficial on different levels,” said Hettrick. “Hancock Whitney has the opportunity to strengthen its ties with the community, while the community is able to benefit from the partnership and funds.”
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