DALLAS, Sept. 1, 2009 (GLOBE NEWSWIRE) -- The Federal Home Loan Bank of Dallas (FHLB Dallas) is pleased to announce it has awarded a $5,000 Special Needs Assistance Program (SNAP) grant to Wayne Landry to repair the roof of his Abbeville, Louisiana, home. The grant was awarded through IBERIABANK in New Iberia, Louisiana.
Mr. Landry, who also is a minister at a church in Abbeville, originally approached IBERIABANK about the possibility of receiving a business grant for his church, Living Word Ministries.
Carrie Curet, IBERIABANK Community Development Officer and Vice President, said she talked to Mr. Landry about the Partnership Grant Program, another grant program offered through FHLB Dallas and its members. In speaking with Mr. Landry, she learned of the damage to his home and learned he had a disabled family member, which would make him eligible for a SNAP grant.
Mr. Landry and his wife, Catherine, have seven children, five of whom live at home. The family's roof has been leaking since Hurricane Gustav hit the area. He was able to use the grant to repair his leaky roof and the resulting hidden damage to his sheetrock.
"I kind of managed; I was patching it up with some tar and different stuff that lasted a little while, but with the grant I was able to fix it this time," Mr. Landry said. "That grant helped. It came in right on time because I couldn't afford to make the repairs."
His repairs were completed a few weeks ago.
"There is a large number of disabled residents and senior citizens, especially in outlying, rural communities, in need of assistance in repairing their homes," Ms. Curet said. "The SNAP grant has given us an opportunity to get a contractor out to their homes to assist them in getting these repairs."
In 2009, FHLB Dallas set aside $1 million of its annual AHP funds for SNAP, a new special needs rehabilitation program that provides grant funds to assist income-qualified, special needs homeowners with home repairs and modifications. Each SNAP recipient is eligible to receive up to $5,000. If a member financial institution contributes at least $350 toward costs associated with the rehabilitation, the homeowner is eligible to receive up to $7,000.
About the Federal Home Loan Bank of Dallas
The Federal Home Loan Bank of Dallas is one of 12 district banks in the FHLBank System created by Congress in 1932. FHLB Dallas, with total assets of $72.1 billion as of June 30, 2009, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to more than 900 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit the FHLB Dallas web site at fhlb.com.
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