Dallas-based Texas Capital Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas) have provided a $750,000 Affordable Housing Program (AHP) grant to expand the capacity of the Presbyterian Night Shelter homeless men’s long-term program from 240 to 280. The shelter, which opened in 1984, is located just east of downtown Fort Worth. It houses 670 men, women and children each night. Over the years, it has added comprehensive case management with the goal of ending homelessness one individual at a time.
“This expansion is critical for us,” says Toby Owen, the shelter’s CEO. “Despite Presbyterian Night Shelter’s significant efforts, the homeless population has continued to grow. The shelter has been operating at or near its capacity for many years. We need extra capacity to keep up with the demand for our services. This grant from Texas Capital Bank and the Federal Home Loan Bank of Dallas provided a significant amount of the nearly $2.5 million budget for the expansion of our men’s center, and we greatly appreciate it.”
“Texas Capital Bank is proud to support Presbyterian Night Shelter in expanding housing services for the most vulnerable populations,” says Effie Dennison, executive vice president and director of community development for Texas Capital Bank. “It’s a life-changing program, and we were only too happy to join with the Federal Home Loan Bank of Dallas to help increase the capacity of its men’s center.”
Affordable Housing Program funds are intended to assist FHLB Dallas members in financing the purchase, construction and/or rehabilitation of owner-occupied, rental or transitional housing, as well as housing for homeless individuals in their community. The funds must be used to benefit households with incomes at or below 80 percent of the median income for the area. Since the program’s inception in 1990, FHLB Dallas has awarded more than $300 million in AHP and AHP set-aside program grants and has assisted nearly 54,000 households.
“We are glad to join with Texas Capital to help the Presbyterian Night Shelter add capacity at a time when the need for its services is more critical than ever,” says Greg Hettrick, first vice president and director of community investment at FHLB Dallas.
Established in 1997, Texas Capital Bank operates 12 locations in Austin, Dallas, Fort Worth, Houston and San Antonio.
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 $75 billion as of June 30, is a member-owned cooperative that supports housing and community development by providing competitively priced advances and other credit products to approximately 800 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas.
