Special to the Item
The Picayune Item
HATTIESBURG, Miss. —
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.