BATESVILLE, Miss. (11/5/14)--Thanks to a $500,000 grant secured in part by Jackson, Miss.-based Hope FCU, more than 100 families will have updated and affordable places to live.
The Federal Home Loan Bank (FHLB) of Dallas, through the $188 million-asset credit union, obtained the grant through Mississippi's Affordable Housing Program. The money will be used to renovate the Skyview Apartments in Batesville, Miss.--facilities that have seen better days since being built in the late 1970s.
"Regardless of your socio-economic status, you shouldn't have to worry about not having a secure roof over your head," said Bill Bynum, Hope FCU president/CEO, who added that the credit union is excited to be "part of this worthwhile project that is making safe and affordable housing available to our community's most vulnerable."
The project also marks the first development to receive special Housing Tax Credits under Mississippi Gov. Phil Bryant's new Health Care Zone initiative.
"This is exactly the type of project we envisioned when we asked developers to submit these health care master plans," Bryant said. "These developments will provide workforce housing for families to raise their children in a safe place and pursue the American dream."
The complex is occupied by low-income families and elderly residents, according to Skyview Apartments Property Manager Vonnie Carroll.
Greg Hettrick, FHLB Dallas vice president and director of community investment, said the collaboration between the bank and the credit union is a great example of what can be accomplished when resources are pooled.
"Our member institutions are committed to being a viable partner in resolving affordable housing concerns in the communities they serve, and at FHLB Dallas, we support their efforts through our many grant programs," Hettrick said.