PASADENA, Texas, Oct. 18, 2010 (GLOBE NEWSWIRE) -- The Federal Home Loan Bank of Dallas (FHLB Dallas) and Capital Bank are pleased to announce they have awarded a $500,000 Affordable Housing Program (AHP) grant to The Bridge Over Troubled Waters, Inc. (The Bridge) to assist with the construction of its new crisis center, located just four miles from its current location.
The AHP grant will be used in conjunction with other funding sources to construct a new facility that will provide 100 beds for women and children who are victims of domestic violence. Of the 100 new beds, 40 will be used for emergency services for victims within the first 30 days of arriving at the crisis center. The remaining 60 beds will be used for transitional housing, which will assist clients who have moved past the emergency stage, and are learning to support themselves and their families in a safe and supportive environment.
"The building we are currently located in simply cannot accommodate us anymore," said Nicole Guillory, grant compliance manager at The Bridge. "It is past the point of renovation, and does not have adequate space to support our clients or host outreach programs. This new facility is in a better location, and it will allow us to serve 25 more people at any given time, and conduct more in-house education courses and community outreach programs rather than outsourcing or going to off-site locations."
The Bridge provides support and safety through transitional housing and social services to victims of domestic violence. For more than 30 years, The Bridge has operated as a center for healing and opportunity for homeless women and children who are seeking refuge and self sufficiency. The Bridge offers a safe environment, as well as counseling, medical services, education, job training, transportation, and guidance to help clients transition into permanent housing once they are ready to safely support themselves and their families.
This is the first time The Bridge has utilized AHP funding, and Ms. Guillory said Capital Bank has been a tremendous partner. Ken Unfried, market president at Capital Bank, worked with representatives of The Bridge and was able to secure the AHP grant.
"The Bridge was a great candidate for AHP funding, and a great partner for us to support because it is a local organization working to serve those in need within Pasadena and surrounding communities," said Mr. Unfried. "Capital Bank prides itself on being a local banker, and we are very familiar with The Bridge and its mission. This grant will help The Bridge continue to do its work in the community, and expand and improve upon the services it already does so well."
Construction on the new facility began in January 2010, and Ms. Guillory said she expects it to be complete by late December 2010. Once the administrative and social services are moved, The Bridge hopes to open the doors of its new Crisis Center in January 2011.
Each year, FHLB Dallas returns 10 percent of its profits in the form of AHP grants issued through its member financial institutions, such as Capital Bank, to assist in the development of affordable owner-occupied and rental housing for very low- to moderate-income households. In 2010, FHLB Dallas awarded $18.5 million in AHP grants through its member institutions to 79 housing projects, which will help create or renovate 2,632 housing units across FHLB Dallas's five-state District of Arkansas, Louisiana, Mississippi, New Mexico, and Texas. Of the $18.5 million awarded, $5.5 million was allocated to projects in Texas, which will create or renovate 912 housing units within the state.
This year marks the 20th anniversary of AHP, and the $18.5 million represents the largest amount FHLB Dallas has awarded in any single year of the program. Since 1990, AHP has assisted more than 38,000 families with their affordable housing needs.
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 $57.1 billion as of June 30, 2010, 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 web site at fhlb.com.
The Federal Home Loan Bank of Dallas logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3013
CONTACT: Federal Home Loan Bank of Dallas Corporate Communications (214) 441-8445 www.fhlb.com