GULFPORT, Miss – (COMMERCIAL THREAD) – Hancock Whitney and the Federal Home Loan Bank of Dallas (FHLB Dallas) have awarded $ 14,000 in Partnership Grant Program (PGP) funds to Gulf Coast Housing Initiative (GCHI), which is developing affordable housing in Gulfport, Mississippi.
PGP grants help qualified nonprofit organizations fund a variety of operational and administrative activities that are essential to serve their communities.
GCHI recently completed a home refurbishment in the Gaston Point community of Gulfport, where it acquired and remodeled a home that was sold to a buyer enrolled in the Section 8 Property Voucher program. He also has two more under construction in another Gulfport community that are nearing completion.
Everett Lewis, executive director of GCHI, said the nonprofit planned to use part of the PGP funding to hire, under contract, someone to provide community liaison services. It will use the remaining funds for operational and administrative services, including survey costs and architectural costs.
“We want to provide individuals and families with the opportunity to live in affordable and safe housing,” said Lewis. “So many people struggle to find and maintain affordable housing, and we want to help them ease that burden. ”
Hancock Whitney, senior vice president and director of community development, Anthony Montgomery, said the bank supports the mission of the Gulf Coast Housing Initiative.
“Its mission of stable and affordable housing is more critical than ever in the current context of rising house prices,” said Mr. Montgomery.
For 2021, FHLB Dallas has awarded $ 400,000 in PGP grants, and its members have provided an additional $ 200,250 for an impact of more than $ 600,000 in its five-state district of Arkansas, Louisiana, Mississippi, from New Mexico and Texas.
FHLB Dallas Senior Vice President and Director of Community Investment Greg Hettrick said the PGP is good for all parties involved.
“The FHLB Dallas 3-1 game highlights the partnership aspect of the program, which makes it particularly beneficial at different levels,” said Hettrick. “Hancock Whitney has the opportunity to strengthen his bond with the community, while the community can benefit from the partnership and the funds. ”
About Hancock Whitney
Since the late 1800s, Hancock Whitney has embodied the core values of honor and integrity, strength and stability, commitment to service, teamwork and personal responsibility. Hancock Whitney’s offices and financial centers in Mississippi, Alabama, Florida, Louisiana and Texas offer comprehensive financial products and services, including traditional and online banking; commercial and small business banking services; private banking; trust and investment services; health care bank; certain insurance services; and mortgage services. The company also operates a loan production office in Nashville, Tennessee. BauerFinancial, Inc., the nation’s leading independent bank rating and analysis firm, consistently recommends Hancock Whitney as one of the most financially sound banks in the United States. More information is available at www.hancockwhitney.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 established by Congress in 1932. FHLB Dallas, with total assets of $ 61.1 billion as of March 31, 2021, is a co-operative owned by its members which supports housing and community development by providing competitively priced loans and other credit products to approximately 800 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information visit our website at fhlb.com.