Louisiana Neighborhood Organization to Be Awarded $120K Grant

10:00 a.m., Friday, November 22, 807 North Columbia Street, Covington

The First, A National Banking Association and the Federal Home Loan Bank of Dallas (FHLB Dallas) has awarded a $120,000 Affordable Housing Program (AHP) grant to West 30's Redemption Company to help fund new construction and renovation of single-family, affordable houses in Covington's West 30's neighborhood.

The media is encouraged to attend a ribbon-cutting event at 10:00 a.m. on Friday, November 22 at 807 North Columbia Street in Covington.

The AHP grant was awarded to West 30's Redemption Company earlier this year. The nonprofit seeks to help families achieve homeownership in Covington's West 30's neighborhood.

The AHP assists FHLB Dallas member institutions like The First, A National Banking Association, in financing the purchase, construction and/or rehabilitation of homes, benefiting households with incomes at or below 80 percent of the area's median income. In 2019, FHLB Dallas awarded $16.3 million in grants to 34 affordable housing projects that helped create or rehabilitate 2,057 housing units.

For more information about the AHP, visit fhlb.com/ahp.

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