DALLAS, Aug. 23, 2011 (GLOBE NEWSWIRE) -- Vera Perry was badly in need of repairs to her roof. The roof on her Dallas, Texas, home had been leaking for two years, resulting in damage to the drywall in her living room.
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Her son learned of a repair program for low-income seniors offered through the Dallas Area Habitat for Humanity (Dallas Area Habitat), which utilized Special Needs Assistance Program (SNAP) funds from the Federal Home Loan Bank of Dallas (FHLB Dallas) and First Private Bank of Texas.
Thanks to a $7,000 SNAP grant, both Ms. Perry's roof and drywall have been repaired.
"I needed a roof. It was leaking badly, but I'm retired and living on a fixed income," said Ms. Perry, who is 78. "I had tried other places and they turned me down and I didn't have the resources to pay for the repairs on my own."
SNAP is a rehabilitation program available through FHLB Dallas member institutions, such as First Private Bank of Texas, that provides grant funds to assist income-qualified, special needs homeowners with necessary home repairs and modifications. Each SNAP recipient is eligible to receive up to $5,000. If a member financial institution contributes at least $350 toward costs associated with the rehabilitation, the homeowner is eligible to receive up to $7,000 from FHLB Dallas.
First Private Bank has awarded more than $103,000 in SNAP grants in 2011 to assist 16 families with their necessary home repairs.
"SNAP offers a creative vehicle for Habitat to extend support to an even greater number of homeowner families, and the people of First Private Bank are proud to be partners in that effort," said First Private Bank President and CEO Daryl Kirkham.
Dallas Area Habitat has used SNAP grants as part of the Habitat for Humanity's A Brush with Kindness exterior repair program, which serves low-income homeowners struggling to maintain the exterior of their homes. SNAP funding and member institution contributions have been instrumental components in revitalizing distressed neighborhoods.
"Repairing an existing home for a long-time homeowner can be a catalyst for change for low-income seniors like Ms. Perry," said Bill Hall, CEO, Dallas Area Habitat for Humanity. "The SNAP serves as that catalyst for hope by providing that much needed funding assistance to seniors on fixed incomes to repair their homes and make them safe again."
About Dallas Area Habitat for Humanity
Dallas Area Habitat for Humanity transforms neighborhoods by engaging families and community partners in creating affordable housing. Dallas Area Habitat for Humanity's vision is that all individuals and families live in thriving neighborhoods where hopes and dreams are realized for generations to come because poverty housing is socially, politically and spiritually unacceptable. Since 1986, Dallas Area Habitat for Humanity has served more than 850 low-income families using homeownership as an anchor for hope, change, and fellowship resulting in an investment of approximately $95 million in more than 20 neighborhoods of Dallas County that adds $2 million annually to Dallas County tax rolls. For more information, visit www.dallas-habitat.org.
About First Private Bank
Founded in Dallas in 2007, First Private Bank provides a full array of personalized financial services through its bank locations in Dallas and Plano.
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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