TUPELO, Miss., Dec. 17, 2015 /PRNewswire-USNewswire/
-- Fourteen first-time homebuyers who are disabled or elderly
will receive financial assistance through a $140,000 Affordable Housing Program (AHP) grant
to the University of Southern
Mississippi Institute for Disability Studies. BancorpSouth
Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas) awarded the grant, which
will be applied toward the homebuyers' down payments, closing
costs, and mortgage principal.
The homes will be located on scattered sites across the state.
Funds will be awarded on a first-come, first-served basis to
eligible applicants beginning the first quarter of 2016.
"The focus of the USM Institute for Disability Studies aligns
well with the mission of the Affordable Housing Program," said
Evelyn Edwards, vice president and
Community Reinvestment Act specialist at BancorpSouth Bank. "We
have been partners with the Institute for more than seven years.
They have an excellent track record of facilitating grants."
FHLB Dallas annually returns 10 percent of its profits in the
form of AHP grants to the communities served by its member
institutions. AHP grants fund a variety of projects, including home
rehabilitation and modifications for low-income, elderly, and
special needs residents; down payment and closing cost assistance
for qualified first-time homebuyers; and the construction of
low-income, multifamily rental communities and single-family
homes.
"In Mississippi, there are an estimated 350,000 people with
disabilities," said Heather Steele,
associate coordinator for Housing Services at the USM Institute for
Disability Studies, "This is the highest rate per population of
disabilities in the country. Our organization is committed to
providing programs and services that promote independence and
inclusion of persons with disabilities."
Nationwide, an estimated 54 million Americans are living with
some form of disability, according to data from the Survey of
Income and Program Participation (SIPP) and reported on
disabilitystatistics.org, a website of U.S. disability statistics
maintained by Cornell University.
This year's AHP award coincides with the 25th
anniversary of the Americans with Disabilities Act, landmark
legislation that prohibits discrimination based on disabilities.
July 2015 also marked the
25th anniversary of the AHP. Since the program's
inception, FHLB Dallas has awarded more than $237 million in AHP grants to help approximately
44,000 families obtain affordable, quality housing. Since
1990, Mississippi has been awarded
more than $37.8 million in
competitive AHP grants.
Greg Hettrick, vice president and
director of Community Investment at FHLB Dallas, praised the work
of BancorpSouth Bank and the USM Institute for Disability
Studies.
"FHLB Dallas is pleased to contribute to improving the lives of
disabled residents of Mississippi
by assisting our members in providing affordable housing
opportunities," he said. "We value the partnerships with our
members and project sponsors that turn these opportunities into
reality."
About BancorpSouth Bank
BancorpSouth, Inc. (NYSE: BXS) is a financial holding company
headquartered in Tupelo,
Mississippi, with approximately $13.8
billion in assets. BancorpSouth Bank, a wholly-owned
subsidiary of BancorpSouth, Inc., operates 286 commercial banking,
mortgage, and insurance locations in Alabama, Arkansas, Florida, Louisiana, Mississippi, Missouri, Tennessee and Texas, including an insurance location in
Illinois. "Like" us on Facebook;
follow us on Twitter@MyBXS; or connect with us through
LinkedIn.
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 $43.0 billion as of
September 30, 2015, is a member-owned
cooperative that supports housing and community development by
providing competitively priced advances and other credit products
to approximately 865 members and associated institutions in
Arkansas, Louisiana, Mississippi, New
Mexico, and Texas.
Contact:
Corporate Communications
Federal Home Loan Bank of Dallas
www.fhlb.com
(214) 441-8445
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SOURCE Federal Home Loan Bank of Dallas