Funds Address Critical Need for Repairs and Storm-Resistant Roofs
Representatives from the Federal Home Loan Bank of Dallas (FHLB Dallas) and Bonvenu Bank (Bonvenu) celebrated awarding $351,264 in FHLB Dallas FORTIFIED and Disaster Rebuilding Assistance (DRA) grants at a media event celebrating the grand opening of Bonvenu’s new branch in Mandeville, Louisiana. The funds, which were awarded through FHLB Dallas member Bonvenu, will be used to make repairs for low-income households in Louisiana.
Terri Gage, president and CEO of Habitat for Humanity St. Tammany West, says that without the funds, many residents would not be able to afford to repair their homes.
“In Louisiana we are finding more and more need for repairs to homes,” she said. “I can’t stress enough the importance of the funding. Not only do we have a significant insurance crisis in Louisiana, it’s also a real struggle for low-income families to maintain their homes. The FHLB Dallas FORTIFIED Fund helps so many families in different ways.”
FORTIFIED roofs are installed to withstand damage from high wind, hail and thunderstorms. Homeowners can qualify for FHLB Dallas FORTIFIED Fund grants up to $15,000 for roof replacements and up to $7,500 for roofs on new construction. In 2025, $10 million is available through member institutions within the FHLB Dallas District of Arkansas, Louisiana, Mississippi, New Mexico and Texas.
For 2025, FHLB Dallas set aside $4 million of its AHP allocation for the DRA program.
As an example of how the DRA funds are used, an elderly local homeowner whose home was damaged by Hurricane Ida three and a half years ago was awarded $14,974 in DRA funds to repair significant roof and window damage. The FHLB Dallas DRA program provides grants for the repair, rehabilitation and reconstruction of owner-occupied housing affected by a disaster event in a federally declared disaster area within the FHLB Dallas District.
“This funding is extremely important for low-income homeowners in St. Tammany Parish and throughout Louisiana,” said Michael Colston, vice president and community development officer at Bonvenu Bank. “We are excited to be a part of this program and stand ready to help communities with our available resources.”
“Bonvenu has been a strong partner of FHLB Dallas,” said Greg Hettrick, senior vice president and director of Community Investment at FHLB Dallas. “These funds have the potential to help so many residents ensure that their homes are secure and able to withstand what storms may come.”
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