PASADENA, Texas, Aug. 4, 2011 (GLOBE NEWSWIRE) -- Representatives of the Federal Home Loan Bank of Dallas (FHLB Dallas) and Capital Bank were pleased to join local and state public officials, along with the staff and affiliates of The Bridge Over Troubled Waters, Inc. (The Bridge) for the grand opening of The Bridge's new facility.
A photo accompanying this release is available at http://www.globenewswire.com/newsroom/prs/?pkgid=10098
The event began at 10:00 a.m. Thursday, August 4, with a ribbon cutting conducted by The Bridge's board of directors, followed by a check presentation in honor of the $500,000 Affordable Housing Program (AHP) grant awarded to The Bridge by FHLB Dallas and Capital Bank to assist with the construction of the new center. The Bridge welcomed the public to attend the event and hosted guided tours of the new facility every hour until 6:00 p.m.
"Congratulations to The Bridge on the grand opening of its new facility," said State Senator Mike Jackson. "I am proud of the fine work they do to support our community, and I know we all appreciate the generosity of the sponsors who have helped make this new facility possible."
The Bridge provides support and safety through transitional housing and social services to men, women, and children who are victims of domestic violence, sexual assault, and homelessness. For more than 30 years, The Bridge has operated as a center for healing and opportunity for those seeking refuge and self sufficiency. The Bridge offers a safe environment, as well as counseling, medical services, education, job training, transportation, and guidance to help clients transition into permanent housing once they are ready to safely support themselves and their families.
"Organizations like The Bridge are a vital part of providing the most vulnerable individuals access to critical services and support during crisis situations," said State Representative Ken Legler. "The Pasadena and Southbelt communities are stronger because of the establishment of The Bridge's new facility. Its presence is integral in providing support for individuals affected by domestic violence, sexual assault, or homeless situations, and The Bridge helps these individuals realize and attain their personal goals, and escape their situation and ultimately live better lives."
The new facility now comfortably accommodates at least 100 beds, which is 25 percent more than the previous facility offered. In crisis situations, the center can expand its services and accommodate up to 125 beds. Of the 100 permanent beds, 40 are used for emergency services for victims first arriving to the center, while 60 beds are reserved as transitional housing for victims that have moved past the emergency stage, but are not ready for independent living. The new center also has multipurpose areas to conduct its outreach programs, education courses, and social events.
"We are so happy to finally be in our new home," said Kim Kankel, development specialist at The Bridge. "This has been a long-time goal, and we desperately needed the room to grow and a facility that could fully accommodate our needs. We had to limit our resources, or work around some obstacles in order to function. This new center is amazing and makes a significant difference in the lives of the people we serve."
The AHP grant was used in conjunction with other funding sources to build the new center. The nonprofit organization had outgrown its prior facility, and the building was beginning to fall into disrepair. Initial discussions about renovating the existing center began about 10 years ago. Rather than rehabilitate the existing structure, it was more cost effective to build a new facility that could better accommodate the needs of the organization and its clientele, especially since The Bridge had added more outreach programs and the demand for its services has grown significantly throughout the years.
AHP grants are awarded through FHLB Dallas member financial institutions, such as Capital Bank, to assist in the development of affordable owner-occupied and rental housing for very low- to moderate-income households. This is the first time The Bridge has utilized AHP funding, and Ms. Kankel said Capital Bank was a tremendous partner. Capital Bank Market President Ken Unfried worked with representatives of The Bridge to secure the AHP grant.
"The Bridge was a great candidate for AHP funding, and a great partner for us to support because it is a local organization working to serve those in need within Pasadena and surrounding communities," said Mr. Unfried. "Capital Bank prides itself on being a community bank and is very supportive of The Bridge and its mission. The opening of this new facility will help The Bridge continue its mission for many decades to come."
In 2010, FHLB Dallas awarded $18.5 million in AHP grants through its member institutions to 79 housing projects, which will help create or renovate 2,632 housing units across FHLB Dallas's five-state District of Arkansas, Louisiana, Mississippi, New Mexico, and Texas. Of the $18.5 million awarded, $5.5 million was allocated to projects in Texas, which will create or renovate 912 housing units within the state. The Bridge was one of the 79 projects to receive AHP funding in 2010. The 2011 AHP recipients will be announced by FHLB Dallas in the late summer.
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 $31.4 billion as of June 30, 2011, 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 website at fhlb.com.
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