NEW ORLEANS, Nov. 8, 2011 (GLOBE NEWSWIRE) -- The Federal Home Loan Bank of Dallas (FHLB Dallas) today joined Crescent Bank & Trust (Crescent Bank) in presenting a $20,000 Partnership Grant Program (PGP) award to St. Andrew's Village.
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St. Andrew's Village, a New Orleans-based nonprofit founded in 2007, is building a mixed-use community in Abita Springs for adults with developmental disabilities to live alongside their non-disabled peers. The PGP grant will assist the organization with operating costs.
St. Andrew's Village is in the midst of a $15 million capital campaign to raise funds for the first phase of the community. The organization will use the PGP funds to conduct additional outreach for the project and to educate the community-at-large about St. Andrew's Village.
"Receiving this grant shows the support of the community," said Donna Breaux, executive director of St. Andrew's Village. "St. Andrew's will be the first of its kind in South Louisiana. It will make an unbelievable impact on the lives of persons with developmental disabilities."
Louisiana state Representative Scott Simon, R-Abita Springs, attended the presentation today in a show of support for the organization.
"The integrated concept of St. Andrew's Village is one that fosters dignity, equality, independence, and opportunity for all," said Representative Simon. "St. Andrew's Village will enhance and promote community involvement, social interaction, and spiritual well-being. Abita Springs, the future site of St. Andrew's Village, is humbled and honored to welcome St. Andrew's to our community."
Louisiana state Senator Ben Nevers, D-Bogalusa, praised the St. Andrew's Village project.
"It is always a pleasure to support programs and organizations, such as St. Andrew's Village, that allow those with developmental disabilities to live as independently as possible," the senator said. "This will give them a tremendous opportunity to live out their dreams, reach for bigger and brighter goals, and achieve great successes in their lives."
The St. Andrew's Village PGP grant was awarded in conjunction with Crescent Bank.
"Crescent Bank was honored to be asked to join FHLB Dallas in support of St Andrews Village," said Crescent Bank Chairman and CEO Gary Solomon. "It is great to come together to move forward programs like St Andrews Village. There is no group of Americans who deserve more support than the children with special needs."
St. Andrew's Village will be completed in four stages. The first stage will consist of eight 4-bedroom homes, each with three bedrooms available for rent, and one bedroom reserved for a support person. Ms. Breaux hopes to break ground on the St. Andrew's Village project by spring 2012.
The project will be a valuable addition to Abita Springs.
"I am proud of the positive role that the town and the people of Abita Springs have played in the development of St. Andrews Village," said Mayor Louis Fitzmorris, who also spoke at today's check presentation. "I have personally been honored to work with the parents in fulfilling their dream of this special community."
Through the PGP, FHLB Dallas awards partnership grants through its member institutions to provide funding for the operational needs of community-based organizations involved in affordable housing and community development. FHLB Dallas matches a member's cash contribution to a community-based organization of $500 up to $5,000 at a 3:1 ratio. Through its member institutions, FHLB Dallas awarded $225,000 in partnership grants in 2011.
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 September 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.
This photo is also available via AP PhotoExpress
