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Banks Partner to Award $232K in Grants to Benefit Mississippi Women and ChildrenA 25-unit facility for women and children in Jackson, Mississippi, will open, thanks to a $212,500 Affordable Housing Program (AHP) grant from the Federal Home Loan Bank of Dallas (FHLB Dallas) and BancorpSouth Bank. The Corporation for Global Community Development (CGCD) used the grant to fund the rehabilitation of a 25-unit transitional facility for homeless and at-risk women and their children. Project representatives will attend a ribbon cutting and check presentation at 10:00 a.m. on Tuesday, February 13, at 4655 Terry Road in Jackson. The media is invited to attend. In addition, FHLB Dallas partnered with BancorpSouth Bank to award $16,000 in Partnership Grant Program (PGP (News - Alert)) funds to the nonprofit, and Trustmark National Bank to award $4,000 for a total award of $20,000. The organization used the funds for organizational capacity building. FHLB Dallas annually returns 10 percent of its profits in the form of AHP grants to the communities served by its member institutions, like BancorpSouth Bank. 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. For more information about the AHP, visit fhlb.com/ahp. The structure of the PGP allows FHLB Dallas member institutions like BancorpSouth Bank and Trustmark National Bank to make a contribution of $500 to $4,000 to a community-based organization (CBO), which FHLB Dallas will match at a 3:1 ratio. For more information about the PGP, visit fhlb.com/pgp.
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