Pedestal Bank and FHLB Dallas Provide Affordable Housing Program Funds
HOUMA, La.–(BUSINESS WIRE)–A $750,000 Affordable Housing Program (AHP) grant from Pedestal Bank and
the Federal Home Loan Bank of Dallas (FHLB Dallas) will assist with the
construction of eight new apartment units in Houma, Louisiana.
The grant was awarded to Louisiana nonprofit, Start Corporation. Start
offers multiple programs dedicated to improving lives of low income
individuals, or those with behavioral, physical or developmental
challenges and disabilities. Its programs include homebuilding, social
skills training, peer-to-peer recovery services and veteran support
programs. Headquartered in Houma, Start also has offices in Thibodaux,
New Orleans and Baton Rouge. This is the second AHP grant for the
The new loft-style units will be located along Magnolia Street near
Start’s offices and adjacent from the previously built apartments from
the first awarded AHP grant. Constructed within a two-story building,
all eight units will be 400 square feet each, and compliant with the
American Disabilities Act Accessibilities Guidelines (ADAAG).
Construction for the apartment units will begin in April and be
completed late this year.
The eight apartment units will add onto the more than 100 units of
affordable housing that Start has developed since the organization was
founded in 1984. Start Executive Director Casey Guidry says the housing
that Start offers to the community is essential in helping residents
live healthy, full lives.
“It’s extraordinary to see people get into housing and seeing their
health outcomes achieved,” Mr. Guidry said. “We’d like to thank Pedestal
Bank and Sharon Bergeron for championing this application.”
Sharon Bergeron is the senior vice president of commercial lending at
Pedestal Bank. She has been the organization’s point of contact in
applying for the grant through FHLB Dallas, and deeply believes in
“We are thrilled to be the FHLB Dallas member bank endorsing the
application for Start Corporation to receive the AHP grant,” said Ms.
Bergeron. “Affordable housing is a critical need in our parish,
particularly for the population these new units will be assigned to.
Adequate housing, coupled with effective case management, leads to
improved long-term quality of life for these clients. We really look
forward to the completion of this project.”
In 2018, the AHP, offered through FHLB Dallas member institutions,
awarded $14 million in grants to 29 affordable housing projects. Since
inception in 1990, the AHP has awarded more than $278 million, and
“FHLB Dallas is committed to helping our members finance affordable
housing in their communities,” said Greg Hettrick, first vice president
and director of Community Investment at FHLB Dallas. “It is rewarding to
see the impact of this program, made possible by the partnership of
Pedestal Bank and Start Corporation, on Louisiana communities.”
AHP funds are intended to assist FHLB Dallas members in financing the
purchase, construction and/or rehabilitation of owner-occupied, rental
or transitional housing for homeless individuals in their community.
Funds for the program are targeted to benefit households with incomes at
or below 80 percent of the median income of an area. In Louisiana alone,
more than $4.6 million in grant funds has been awarded through the AHP.
for more information on the AHP.
About Pedestal Bank
Pedestal Bank is one of the ten largest banks based in Louisiana with a
branch network of 23 locations serving 11 parishes, with assets over
About the Federal Home Loan Bank of Dallas
The Federal Home Loan Bank of Dallas is one of 11 district banks in the
FHLBank system created by Congress in 1932. FHLB Dallas, with total
assets of $72.8 billion as of December 31, 2018, is a member-owned
cooperative that supports housing and community development by providing
competitively priced advances and other credit products to approximately
825 members and associated institutions in Arkansas, Louisiana,
Mississippi, New Mexico and Texas. Visit fhlb.com
for more information.
Federal Home Loan Bank of Dallas