Congressman Castro Joins Broadway Bank and FHLB Dallas in Announcing $900K to Projects in the 20th District

SAN ANTONIO, April 15, 2014 (GLOBE NEWSWIRE) -- Please join Congressman Joaquin Castro, Broadway Bank, and the Federal Home Loan Bank of Dallas (FHLB Dallas) as they announce $900,000 in Affordable Housing Program (AHP) grants to two affordable housing projects in Congressman Castro's district.

A ribbon cutting will be conducted for a residential facility on the campus of Providence Place that houses women recovering from substance abuse and their children. The San Antonio facility underwent major renovations, which were partly funded by a $400,000 AHP grant. Another $500,000 AHP grant is assisting George Gervin Youth Center, Inc. in the construction of a 56-unit apartment community for low-income elderly residents in San Antonio. That project is currently under construction.

AHP grants are awarded through FHLB Dallas member financial institutions, such as Broadway Bank, to assist in the development of affordable, owner-occupied and rental housing for very low- to moderate-income households. In 2013, FHLB Dallas awarded $11.3 million in AHP funding to 36 projects across its five-state District of Arkansas, Louisiana, Mississippi, New Mexico, and Texas. The funding will result in 1,654 new or rehabilitated housing units.