MONROE, La., Sept. 1, 2011 (GLOBE NEWSWIRE) -- Representatives of Rays of Sonshine today joined officials from the City of Monroe, Community Trust Bank, the Federal Home Loan Bank of Dallas (FHLB Dallas), the Louisiana Housing Finance Agency, and other supporters to celebrate the start of construction on the final site of the Sonshine Community of Hope project.
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The Rays of Sonshine is a Monroe-based nonprofit organization that provides residential and intensive outpatient services for women and women with children seeking recovery from substance abuse. The organization received a $120,000 Affordable Housing Program (AHP) grant from Community Trust Bank and FHLB Dallas in 2010 to help fund the construction of the Sonshine Community of Hope Phase I, which consists of 12 single-family homes for chronically homeless and very low-income individuals and families.
"Building a supportive neighborhood is needed because so many families are trying to get better and stronger, but struggle to find a safe, decent, affordable place to live," said Rays of Sonshine Executive Director Lynn Daniel.
Shelia Grayson, Community Trust Bank vice president and community reinvestment officer, has described the project as inspirational for young women and families. Ms. Grayson worked with the Rays of Sonshine to help the organization obtain its AHP funding.
"Rays of Sonshine works tirelessly for the families in our community. This is an organization that doesn't give up," Ms. Grayson said. "Rays of Sonshine creates a safe environment for many families that are in need. I am happy to be part of this community collaboration."
Each year, FHLB Dallas returns 10 percent of its profits to the communities served by its member institutions in the form of AHP grants. AHP funds are used to purchase, construct, and/or rehabilitate single-family, transitional, and multifamily projects for very low- to moderate-income families. The Rays of Sonshine grant was part of $18.5 million in AHP grants awarded by FHLB Dallas through its member institutions in 2010. FHLB Dallas has since awarded another $11 million in AHP grants in 2011, including nearly $2.5 million for Louisiana projects.
"There is great value in developing affordable housing for families working toward making positive changes in their lives," said FHLB Dallas President and CEO Terry Smith. "FHLB Dallas is pleased to partner with Community Trust Bank in awarding $120,000 to aid in the construction of such a worthwhile project."
In order to reside in one of the new homes planned for the Sonshine Community of Hope, residents must be willing to live drug free and sober; work on an individual success plan that includes improving job skills and education; help maintain the property; and give back to the community as a volunteer, according to Kim Golden, neighborhood project facilitator for Rays of Sonshine.
"The commitment to giving back is very important because by working together we grow stronger as individuals and as a community," Ms. Golden said.
Rays of Sonshine is working with community partners to eventually develop the Sonshine Community of Hope to include 100 to 150 mixed residential units to serve a broad range of income levels, including moderate and middle incomes. The organization is also working with a steering committee of residents to bring to the area a business center, a neighborhood market, an extended hour day care center, and a community garden.
The project has received quite a bit of support from the community, including the City of Monroe, which used the tax adjudication process to acquire several abandoned city sites that were sold to the Rays of Sonshine for the project.
"The City Council and I, along with various city departments, were proud to help in the land acquisition phase through our adjudicated property process," said Monroe Mayor Jamie Mayo. "We partnered with Rays of Sonshine for our Neighborhood Stabilization project, and we are Monroe proud to support this effort to provide permanent and supportive housing to low-income and homeless individuals and families."
In addition, the Ouachita Parish Police Jury supported the project by waiving accumulated back taxes and fees on the adjudicated properties.
"I supported the waiver because the benefits to the community when families become self-sufficient in safe, affordable housing are much more than the amount of the taxes the Jury let go to help this project get started," said District F Police Juror Pat Moore.
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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The photo is also available via AP PhotoExpress
