JACKSON, Miss., Sept. 21, 2011 (GLOBE NEWSWIRE) -- When the roof on Newton Bowman's house began to leak so badly that water ran down the walls of his bedroom when it rained, he turned to a local community organization, Midtown Partners, Inc., for help.
Mr. Bowman learned about the Special Needs Assistance Program (SNAP) through Mary Elizabeth Evans, director of Community & Economic Development for Midtown Partners. The community-based organization works with residents, businesses, and community stakeholders to help make the Midtown neighborhood -- where Mr. Bowman lives -- a thriving community. Ms. Evans put Mr. Bowman in touch with BankPlus in Jackson, Mississippi, to begin the application process.
"It's important for us to be a part of the community. One of the keys to being effective in the community is having good relationships with organizations like Midtown Partners Inc.," said Mark Ouellette, first vice president and director of affordable housing at BankPlus. "Oftentimes, they can quickly identify specific, critical needs of residents and refer those households to us. These relationships resulted in BankPlus helping 23 families in 2011 with $129,342 in home repairs."
SNAP grants are made available through Federal Home Loan Bank of Dallas (FHLB Dallas) member institutions, such as BankPlus, to assist income-qualified, special needs homeowners with necessary home repairs and modifications. In 2011, FHLB Dallas made $2.1 million in SNAP funding available to its members. Each SNAP recipient is eligible to receive up to $5,000. If the participating member financial institution contributes at least $350 toward the costs associated with the rehabilitation, the homeowner is eligible to receive up to $7,000 from FHLB Dallas.
"Mr. Bowman called us in November 2010 and, unfortunately, the SNAP funds for the year had been depleted," Ms. Evans said. "We found a church group to do a temporary patch on his roof until more funds became available in 2011. He received a $4,750 grant to pay for the much-needed repairs.
"Mr. Bowman, who is 55 and retired from the City of Jackson where he worked for more than 25 years, has health problems that have left him in a wheelchair. He's an active and well-known member of the Midtown community," Ms. Evans said. She became acquainted with him through the organization's Meals on Wheels program.
"We have worked with Mr. Bowman for many years and were happy to connect him to BankPlus and the SNAP," Ms. Evans said. "In the future, we hope to connect many more families to BankPlus and other members of FHLB Dallas to take advantage of the program. It is truly a gift to low-income seniors and disabled individuals, who are living on fixed incomes and unable to afford important repairs to their homes."
Mr. Bowman learned that he'd been approved for the grant just a few days after completing his application. Now, when it rains, he doesn't have to worry about the interior of his home getting soaked. "Everyone at BankPlus was very nice to work with, and without the grant, I wouldn't have been able to have the roof repaired," he said.
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 advances 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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