Hancock Resource Center has been awarded a $240,000 Affordable Housing Program grant to help 30 low-income, elderly and/or special-needs homeowners living in substandard conditions to make essential home repairs.
The grants come through The First, A National Banking Association, and the Federal Home Loan Bank of Dallas.
"We are talking about critical areas, not cosmetic or maintenance work," said Rhonda Rhodes, HRC president, such as structural integrity, energy consumption and home resiliency.
"An estimated one-third of Gulf Coast residents live below the poverty line, and of those who own homes, the maintenance and upkeep is cost-prohibitive," said C. Jerome Brown, senior vice president and director of community development at The First.
FHLB Dallas annually returns 10 percent of its profits in the form of AHP grants to the communities served by its member institutions such as The First.
In 2015, FHLB Dallas awarded $7.4 million in grants for 32 projects that will result in 965 new or renovated housing units. Mississippi received $1.5 million for the construction or renovation of 188 units.