Women and Children's Shelter Opens with Help of Affordable Housing Program Grant

The Morris Foundation Women and Children's Center (Center) is a 30,000-square-foot facility providing 40 private housing units for homeless women and children. This $8.4 million project was funded in part by a $500,000 Affordable Housing Program (AHP) grant from Texas Capital Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas). Today, the Center held a grand opening and dedication ceremony, which was attended by project representatives and dignitaries including First Lady Cecilia Abbott and Councilmember Kelly Allen Gray (D-8).

"The construction of the Morris Foundation Women and Children's Center is a testament to Presbyterian Night Shelter's commitment to providing essential services to Tarrant County's in-need women and children," said Councilmember Gray. "It gives me great joy to see this project come to fruition and I applaud Texas Capital Bank and the Federal Home Loan Bank of Dallas for their involvement in this project."

Presbyterian Night Shelter Chief Executive Officer Toby Owen says that by improving quality, capacity, and impact of services to women and children, the facility is expected to decrease the length of stay and empower women to live more independently.

"Our new Women and Children's Center is not a traditional emergency shelter," said Mr. Owen. "This grant allowed us to complete our funding for the Center, and extend the impact of support services we offer for women and children to move to stable, permanent housing."

Effie Dennison, senior vice president and director of Community Development at Texas Capital Bank, said that the addition of the Center is an asset to the community.

"Texas Capital Bank is thankful for the opportunity to help make affordable housing for DFW's homeless women and children available," said Ms. Dennison. "This would not have been possible without our partnership with the Federal Home Loan Bank of Dallas." 

The addition of the Center will increase capacity from serving 30 families to 40, and its space to serve single women will expand, allowing up to 148 women to receive care at a time. Additionally, 28 private rooms were added, and ample dining space will allow everyone to be served at one time. The new space will also be available for vocational life skills and personal financial management training.

The new facility is expected to decrease security risks because it is situated away from high homeless foot traffic and is custom-designed with security in mind, Mr. Owen said.

FHLB Dallas, in partnership with its member financial institutions, has awarded more than $7.4 million in AHP grants to 32 projects, primarily within its five-state District of Arkansas, Louisiana, Mississippi, New Mexico, and Texas. Of this amount, the Lone Star State was awarded $2.3 million to construct or rehabilitate 265 units. In 2016, FHLB Dallas will award $7.6 million in AHP grants. Recipients will be announced later this year.

FHLB Dallas annually returns 10 percent of its profits in the form of AHP grants to the communities served by its member institutions. AHP grants fund a variety of projects, including home rehabilitation and modifications for low-income, elderly, and special needs residents; down payment and closing cost assistance for qualified first-time homebuyers; and the construction of low-income, multifamily rental communities and single-family homes. 

"This is an important day because not only are we celebrating the completion of this project, but also because we are reminded of the great things that can happen when institutions come together for a good cause," said Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas. "We are proud of our partnership with Texas Capital Bank on this initiative to make housing and vital services available to Fort Worth residents in need."

About Texas Capital Bancshares, Inc.

Texas Capital Bancshares, Inc. (NASDAQ: TCBI), a member of the Russell 2000® Index and the S&P SmallCap 600®, is the parent company of Texas Capital Bank, a commercial bank that delivers highly personalized financial services to businesses and entrepreneurs. Headquartered in Dallas, the bank has full-service locations in Austin, Dallas, Fort Worth, Houston and San Antonio.

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 $49.5 billion as of March 31, 2016, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to approximately 850 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

Photo - http://photos.prnewswire.com/prnh/20160601/374531
Logo - http://photos.prnewswire.com/prnh/20150126/171462LOGO

SOURCE Federal Home Loan Bank of Dallas

Related Links

http://www.fhlb.com