Jackson’s Habitat gains grant to rehab and build homes

March 23, 2012

Banking & Finance

Habitat for Humanity-Metro Jackson, Inc. (HFH/MJ) has received a $400,000 Affordable Housing Program (AHP) to help fix up 20 homes and build 20 homes in Jackson’s Mid-City neighborhood and are owned by very low-income, elderly, or special needs families.

The 20 homes to be constructed will be located in Jackson inner-city neighborhoods and available to qualified low and very-low income families working in partnership with HFH/MJ.

The grant is from the Federal Home Loan Bank of Dallas. Each year, FHLB Dallas returns 10 percent of its profits in the form of AHP grants issued by its member financial institutions, such as BankPlus, to assist in the development of affordable owner-occupied and rental housing for very low- to moderate-income households.

HFH/MJ has begun selecting the recipient families for both the newly constructed and rehabilitated homes. The organization estimates it will be a two- to three-year process to distribute all of the grant funds and complete the construction or rehabilitation of each home.

In 2011, FHLB Dallas awarded $11 million in AHP grants through its member institutions to 53 housing projects, which will help create or renovate 1,653 housing units across FHLB Dallas’s five-state District of Arkansas, Louisiana,Mississippi, New Mexico, and Texas. Of the $11 million awarded, more than $3 million went to projects in Mississippi to create or renovate 378 housing units within the state

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