Refinery Mission Breaks Ground on Transitional Housing Complex

OPELOUSAS, La .– (BUSINESS WIRE) – Yesterday, the Refining Mission and its staff teamed up with representatives from the St. Landry Homestead Federal Savings Bank (St. Landry Homestead FSB) and the Federal Home Loan Bank of Dallas (FHLB Dallas) to break the ground for a new transitional housing estate make that will serve adult men.

Refinery Mission is a faith-based temporary shelter for men who are homeless or moving out of prison, rehab, mental health facility or hospital. The aim of the organization is to give residents the support they need to move towards independence and stability.

The banks provided Refinery Mission with a $ 750,000 Affordable Housing Program (AHP) grant to fund the $ 1.5 million construction project that will create 44 additional units for its residents.

Johnny Carriere Jr., executive director of the Refinery Mission, said the funds would help tremendously.

“The funds are very important to this project,” said Mr Carriere. “The Affordable Housing Program is a game changer and a great tool that we can use to help people who need our help. The grant will allow us to increase our intake and open the door to emergency beds for men who are in more vulnerable situations. I find it difficult to describe how grateful we are for the commitment of St. Landry Homestead FSB and FHLB Dallas to the community. ”

Joe Zanco, President and CEO of St. Landry Homestead FSB, praised the Refinery Mission’s commitment to the community.

“The Refining Mission has a strong obligation to serve those in need throughout our community,” said Mr. Zanco. “We are honored to be part of the Affordable Housing Program and to work with FHLB Dallas to improve programs and housing for those who are just getting a fresh start.”

AHP funds are intended to help the members of the FHLB Dallas with the financing of the acquisition, construction and / or renovation of condominiums, rental apartments or transitional apartments as well as apartments for the homeless. AHP funds must be used for households whose income is at or below 80 percent of the median income in the region.

For 2021, the FHLB Dallas awarded $ 18.5 million in grants to 26 affordable housing projects. The funds will be used to create 2,113 new or refurbished residential units. This includes $ 3 million in subsidies for 323 residential units in the state of Louisiana.

Between 1990 and 2020, FHLB Dallas awarded more than $ 323 million in AHP and home demolition programs and assisted more than 57,000 households.

“Partnering with our members to support community housing is part of the FHLB Dallas mission,” said Greg Hettrick, first vice president and director of community investments for FHLB Dallas. “NS. Landry Homestead FSB is a valued partner in this commitment, and we appreciate his involvement in the Affordable Housing Program to improve the community it serves.”

Further information on the AHP can be found at fhlb.com/ahp.

Via the Bundessparkasse St. Landry Homestead

Established in 1922, St. Landry Homestead Federal Savings Bank is a federally accredited savings bank serving the banking needs of our customers in our market area in the Acadiana region of south central Louisiana. We operate from our headquarters and main banking office in Opelousas, Louisiana, as well as three other full-service offices in St. Landry Parish and two offices in Lafayette Parish, Louisiana.

Via the Federal Home Loan Bank of Dallas

The Federal Home Loan Bank of Dallas is one of 11 district banks in the FHLBank system, which was founded by Congress in 1932. FHLB Dallas, with total assets of $ 60.2 billion as of September 30, 2021, is a member-owned cooperative that supports housing construction and community development by providing credit and other credit products at competitive prices to approximately 800 members and affiliated institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas. For more information, please visit our website at fhlb.com.

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