HATTIESBURG, Miss., Nov. 8, 2012 (GLOBE NEWSWIRE) -- The Federal Home Loan Bank of Dallas (FHLB Dallas) and BankPlus are pleased to announce they have awarded a $147,000 Affordable Housing Program (AHP) grant to the University of Southern Mississippi Institute for Disability Studies (IDS) to support its Home of Your Own (HOYO) program.
The grant will provide 11 very low- and three low-income homebuyers with $10,000 in down payment and closing cost assistance, and $500 in pre-purchase homebuyer counseling. The AHP grant will allow HOYO to target special needs households, rural communities, and homebuyers who are purchasing foreclosed properties in specific areas.
"IDS is thankful for this partnership with FHLB Dallas and BankPlus," said Cassie Hicks, coordinator for housing initiatives at IDS. "The AHP grant allows IDS the opportunity to assist more eligible households across the state, especially in rural communities."
IDS has utilized AHP funding since 1996 to assist special needs families across multiple Mississippi counties. AHP grants are available through FHLB Dallas member institutions, such as BankPlus, to assist in the development of affordable, owner-occupied, and rental housing for very low- to moderate-income households located across its five-state District of Arkansas, Louisiana, Mississippi, New Mexico, and Texas.
"This is a great opportunity to help special needs households across Mississippi," said BankPlus First Vice President Mark Ouellette. "IDS is a proven organization and is equipped to effectively reach these households. We look forward to providing additional housing opportunities in conjunction with IDS and FHLB Dallas in the future."
IDS received two AHP grants during FHLB Dallas's 2012 funding cycle, which will enable it to assist a total of 28 homebuyers this year.
Each year, FHLB Dallas returns a portion of its profits to support the AHP. This year, FHLB Dallas awarded $7.6 million in AHP grants through its member institutions to 27 housing projects. The state of Mississippi received more than $3.2 million to assist in the creation and/or rehabilitation of 476 housing units throughout the state.
About the University of Southern Mississippi
The University of Southern Mississippi (USM), founded in 1910, is a comprehensive doctoral and research-extensive university fulfilling its mission of being a leading university in engaging and empowering individuals to transform lives and communities. In a tradition of leadership for student development, Southern Miss is educating a 21st century work force providing intellectual capital, cultural enrichment and innovation to Mississippi and the world. Southern Miss is located in Hattiesburg, Miss., with an additional campus and teaching and research sites on the Mississippi Gulf Coast. The Institute for Disability Studies has been located at USM for over 30 years and is part of a national network of 67 University Centers on Disabilities advancing policy and practice for and with individuals with disabilities, their families and communities. More information on IDS can be found at www.usm.edu/ids.
BankPlus, with total assets of more than $2 billion, has over 60 bank offices in 33 Mississippi communities. In addition to its Belzoni Main Office, other BankPlus offices are located in Bentonia, Brandon, Byram, Canton, Clinton, D'Iberville, Durant, Flora, Flowood, Gluckstadt, Hernando, Holly Bluff, Horn Lake, Isola, Jackson, Lexington, Madison, Meridian, Newton, Olive Branch, Pearl, Picayune, Pickens, Poplarville, Quitman, Ridgeland, Shubuta, Southaven, Stonewall, Tchula, Waynesboro and Yazoo City. For additional information on BankPlus, please visit www.BankPlus.net.
About the Federal Home Loan Bank of Dallas
The Federal Home Loan Bank of Dallas is one of 12 district banks in the FHLBank System created by Congress in 1932. FHLB Dallas, with total assets of $35.2 billion as of September 30, 2012, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to more than 900 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas. For more information, visit the FHLB Dallas website at fhlb.com.
The Federal Home Loan Bank of Dallas logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3013
CONTACT: Corporate Communications Federal Home Loan Bank of Dallas www.fhlb.com (214) 441-8445
Source:Federal Home Loan Bank of Dallas