The Federal Home Loan Bank (FHLB) of Dallas and First Federal Bank of Louisiana (FFBLA) awarded a $4,000 grant to an affordable housing nonprofit in Louisiana.
The grant was awarded to the nonprofit, Project Build a Future (PBAF), through FHLB Dallas’ Partnership Grant Program. It was the third program grant to the charity since 2014. The money will go toward the construction of six homes at V.E. Washington Street and Broad Street in Lake Charles, Loisiana.
“We are experiencing an economic boom in southwest Louisiana, which means there will be an even greater need for affordable housing in the next few years,” Melissa Dickson, CRA coordinator at FFBLA, said. “We have partnered with PBAF from the beginning, so it’s great to see our combined efforts with FHLB Dallas make a difference for the community.”
Through the FHLB Dallas’ Partnership Grant Program, member institutions can contribute anywhere from $500 to $4,000 to a community-based organization. FHLB Dallas matches the contributions at a 3:1 ratio. Last year, FHLB Dallas awarded $225,000 in PGP funds to 23 community-based organizations. In total, including $96,200 from member institutions, $321,200 was awarded last year.
“We designed the PGP to leverage the strength of local partnerships,” Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas, said. “The connection between Project Build a Future and First Federal Bank of Louisiana is a prime example of the contributions created by working together. We value and support their commitment to Lake Charles.”
PBAF, which was established in 2001, built its 100th home in 2016.
“We strive to do more than simply build houses,” PBAF Executive Director Charla Blake said. “We are really trying to help people create homes and establish neighborhoods. PBAF is like a family. Our small staff knows every person who lives in every one of our homes.”