Source: Federal Home Loan Bank of Dallas / #Affordable #Housing
CORPUS CHRISTI, TX - Corpus Christi Councilmember and Mayor Pro Tem Colleen McIntyre (D-4) will join representatives from the Federal Home Loan Bank of Dallas (FHLB Dallas), Wells Fargo, and Prospera Housing Community Services for a groundbreaking ceremony for the Glenoak Apartments.
The event will take place at 9:30 a.m. Thursday, August 11, 2016, at 711 Glenoak Drive in Corpus Christi, Texas. The media is encouraged to attend.
The groundbreaking ceremony will celebrate the beginning of the reconstruction of the 68-unit affordable multifamily apartment community, located in the Flour Bluff area of Corpus Christi.
Prospera Housing Community Services received a $476,000 Affordable Housing Program (AHP) grant from FHLB Dallas and Wells Fargo in 2015, which provides gap funding for the $14 million project.
AHP grants are available annually through FHLB Dallas member institutions such as Wells Fargo to assist in the development of affordable owner-occupied and rental housing for very low- to moderate-income households located across FHLB Dallas’ five-state District of Arkansas, Louisiana, Mississippi, New Mexico, and Texas.
This year, FHLB Dallas awarded $7.8 million in AHP grants to 27 projects that will result in 1,499 new or renovated housing units.