Community Banks Award $24K in Partnership Grants to University District Development Corporation

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LITTLE ROCK, Ark., Nov. 28, 2012 (GLOBE NEWSWIRE) -- Please join representatives from First Security Bank, Simmons First National Bank, Summit Bank, and the Federal Home Loan Bank of Dallas (FHLB Dallas) as they present $24,000 in Partnership Grant Program (PGP) awards to the University District Development Corporation (UDDC).

The UDDC, which is located on the campus of the University of Arkansas at Little Rock, is a nonprofit organization that helps strengthen and improve the quality of life for residents in University District neighborhoods by increasing homeownership and the supply of affordable housing, making improvements to infrastructure, and other improvement activities.

The PGP funds will be used to assist UDDC with operational expenses associated with its affordable housing program. The UDDC purchases and rehabilitates single-family homes which are then sold as affordable housing units to income-qualified homebuyers. The PGP funds will assist with architectural design fees and other soft costs that aren't typically covered by other grants.

FHLB Dallas awarded $225,000 in grants through its PGP in 2012. The funds provide funding for the operational needs of community-based organizations involved in affordable housing and community development.

WHEN: 10:30 a.m., Monday, December 3, 2012
WHO: Director Ken Richardson, Ward 2, City of Little Rock
Stuart Norton, Vice President, First Security Bank
J. Russell Guerra, President-Little Rock Region, Summit Bank
Adam Mitchell, Senior Vice President, Simmons First National Bank
Barrett Allen, Community Development Program Officer, University District Development Corporation
Greg Hettrick, Vice President and Director of Community Investment, Federal Home Loan Bank of Dallas
Bruce Hatton, Affordable Housing Program Manager, Federal Home Loan Bank of Dallas
WHERE: University of Arkansas at Little Rock
University District Development Corporation
2801 S. University
Bailey Alumni and Friends Center Lobby (Located at the corner of West 28th Street and Campus Drive)
Little Rock, Arkansas 72204

The Federal Home Loan Bank of Dallas logo is available at

CONTACT: Corporate Communications Federal Home Loan Bank of Dallas (214) 441-8445

Source:Federal Home Loan Bank of Dallas