Federal Home Loan Bank of Dallas and Texas Capital Award $510K for Veterans Housing
01 Agosto 2024 - 3:49PM
Business Wire
Funds Will Repurpose Several Historical
Buildings and Add New Units in Waco, Texas
A $510,000 Affordable Housing Program (AHP) grant from the
Federal Home Loan Bank of Dallas (FHLB Dallas), through its member
Texas Capital, will help fund a 34-efficiency unit affordable
housing development for veterans in Waco, Texas. Congressional and
state-elected leaders and local dignitaries gathered last week for
a ground-breaking ceremony of the development at the Doris Miller
VA Center (VA campus).
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Left to right: The Honorable Doc
Anderson, The Honorable Pete Sessions, Stan Parker, The Honorable
Brian Birdwell and Craig Taylor, President, Solutions for Veterans.
(Photo: Business Wire)
The AHP grant was awarded to Solutions for Veterans, a
Georgia-based nonprofit that develops supportive housing and
coordinating services for veterans at select VA medical center
campuses around the U.S.
The $10 million Freedom’s Path Waco development will renovate
three existing historic structures on the Waco VA campus. It will
also include a new multipurpose community building with eight
residential units. The development is expected to open in late
2026.
“Texas Capital is proud to be a part of this housing development
for veterans with disabilities, veterans who may be homeless or at
risk of becoming homeless,” said Worley Barker, director, Community
Development Lending and Investments at Texas Capital. “It has been
a pleasure to work with the FHLB Dallas on this grant and we look
forward to partnering on other initiatives that will make a
positive impact across the state.”
AHP grants assist FHLB Dallas members in financing the purchase,
construction and rehabilitation of owner-occupied, rental or
transitional housing and housing for homeless individuals. The
funds must be used to benefit households with incomes at or below
80 percent of the area median income.
“This affordable housing development is special because it will
be built on an existing VA campus with healthcare and social
services for veterans right outside their apartment units,” said
Greg Hettrick, senior vice president and director of Community
Investment at FHLB Dallas. “We are pleased to be a part of it.”
In 2023, FHLB Dallas awarded $28.4 million in AHP General Fund
grants to 43 affordable housing projects. The grants will help
create 2,677 new or rehabilitated housing units. In 2024, $79.4
million has been allocated for the AHP General Fund and awards will
be announced this fall. Learn more about the FHLB Dallas Affordable
Housing Program.
About Texas Capital Bancshares, Inc.
Texas Capital Bancshares, Inc. (NASDAQ: TCBI), a member of the
Russell 2000® Index and the S&P MidCap 400®, the parent company
of Texas Capital Bank d/b/a Texas Capital, is a full-service
financial services firm that delivers customized solutions to
businesses, entrepreneurs and individual customers. Founded in
1998, the institution is headquartered in Dallas with offices in
Austin, Houston, San Antonio and Fort Worth, building a network of
clients across the country. With the ability to service clients
through their entire lifecycles, Texas Capital established
commercial banking, consumer banking, investment banking and wealth
management capabilities. Member FDIC. For more information, please
visit www.texascapital.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 created by Congress in 1932. FHLB Dallas,
with total assets of $126.2 billion as of June 30, 2024, is a
member-owned cooperative that 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. Visit fhlb.com for more information.
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Corporate Communications Federal Home Loan Bank of Dallas
fhlb.com, (214) 441-8445