Affordable Housing Grant from Amegy Bank, FHLB Dallas Helps The Women's Home Break New Ground

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Jun 04, 2015, 05:48 ET

HOUSTON, June 4, 2015 /PRNewswire/ -- The Women's Home, a long-term residential treatment facility founded in 1957, broke ground today on an 84-unit apartment complex that will include support services for women and children. The $15 million project, located at the corner of Jacquelyn Street and Hammerly Boulevard, received a $500,000 Affordable Housing Program (AHP) grant in 2014 from Amegy Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas). The funds will be used for construction costs.

The Women's Home, a long-term residential treatment facility founded in 1957, broke ground June 4, 2015, on an 84-unit apartment complex for women and children. The $15 million project received a $500,000 Affordable Housing Program (AHP) grant in 2014 from Amegy Bank and the Federal Home Loan Bank of Dallas. The funds will be used for construction costs.

"This project advances the ability of The Women's Home to help women and children who are in need," said Paula Paust, executive director of The Women's Home. "It is through the efforts of many people and organizations that we are here today. I would like to thank Amegy Bank and the Federal Home Loan Bank of Dallas for their partnership as we make this dream a reality."

AHP grants are available through FHLB Dallas member institutions such as Amegy Bank. The annual grants assist in the development of affordable, owner-occupied and rental housing for very low- to moderate-income households located across FHLB Dallas' five-state District of Arkansas, Louisiana, Mississippi, New Mexico, and Texas.

In 2014, FHLB Dallas awarded $9.8 million in AHP grants to 33 projects that will result 1,586 new or renovated housing units. In 2015, FHLB Dallas is offering $7.6 million in competitive AHP grants. "Competitive" refers to the 100-point scoring scale, on which each application is considered. The cutoff score is the point at which funds are fully allocated for a given year.

"Amegy Bank and the Federal Home Loan Bank of Dallas are pleased to support the work of The Women's Home through the Affordable Housing Program (AHP)," said Brian Stoker, senior vice president of Community Lending at Amegy Bank. "Serving and strengthening communities through affordable housing is part of the mission of both organizations. The Women's Home project aligns very well with this fundamental purpose."

In addition to the 80 two-bedroom and four three-bedroom apartments, there will be laundry facilities, community meeting space, an outdoor barbecue, and a playground on the 2.3 acres, which will serve low-income, homeless, and chronically homeless families.

Within walking distance will be an elementary school, a bus line with shopping centers, medical care, job opportunities, and The Women's Home's new WholeLife^® Service Center, which will provide services in physical and behavioral health, after-school and summer programs, and more.

Houston Mayor Annise Parker acknowledged the collaboration that made this groundbreaking day possible.

"Public and private partnerships are vital to the work of The Women's Home," said Mayor Parker. "It's through a team effort between the city and committed partners, like the Federal Home Loan Bank of Dallas, Amegy Bank, the state, local funders, and individuals that The Women's Home is able to expand and further transform the lives of Houstonians."

The AHP award in Houston is one of eight such Texas projects to receive AHP funding in 2014. Since the program's inception in 1990, FHLB Dallas has awarded more than $213 million in AHP competitive grants.

"The Affordable Housing Program is a vital source of funding that helps fill in the gaps on high-impact projects like that of The Women's Home," said Greg Hettrick, vice president and director of Community Investment at FHLB Dallas. "We are honored to be part of this effort to provide women and children with affordable housing."

About Amegy Bank
Amegy Bank is a leading Texas bank with nearly $14 billion in assets and about 2,000 employees. With more than 80 locations across Houston, Dallas, and San Antonio, Amegy is dedicated to serving Texas communities, families and businesses. Founded in 1990, Amegy has a strong tradition of relationship banking, local decision making and financial expertise. Amegy specializes in banking businesses of all sizes, and has the resources to provide financing, investment management, treasury management solutions, international banking, as well as other specialized services. Equally important, the Bank offers individuals and families a wide range of depository, lending, mortgage, wealth management, trust, and brokerage services. Amegy is a part of the Zions Bancorporation (NASDAQ: ZION) collection of great banks. To learn more about Amegy, visit amegybank.com.

About the Federal Home Loan Bank of Dallas
The Federal Home Loan Bank of Dallas is one of 11 district banks in the FHLBank System created by Congress in 1932. FHLB Dallas, with total assets of $36.9 billion as of March 31, 2015, is a member-owned cooperative that supports housing and community development by providing competitively priced advances and other credit products to approximately 865 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas. For more information, visit fhlb.com.

Contact:
Corporate Communications
Federal Home Loan Bank of Dallas
www.fhlb.com
(214) 441-8445

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SOURCE Federal Home Loan Bank of Dallas