Two Organizations Receive Nearly $I.3M to Renovate Homes and Build Apartments

Red River Bank and FIILB Dallas Provide Subsidies to Aid Older Adults in Alexandria and Baton Rouge


ALEXANDRIA, La.–(BUSINESS WIRE)— Red River Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas) have awarded a $495,000 Affordable Housing Program (ARP) subsidy to GAEDA Revitalization Corp. (GRC) and $750,000 to Gulf Coast Housing Partnership (GCHP).


GRC plans to rehabilitate 50 homes owned by low-income seniors living in the Rapides Parish of Alexandria, Louisiana. About $10,000 per homeowner will be spent on repairs.


Willie Spears, GRC executive director, said the ARP subsidy will help improve living conditions of low-income older residents. 


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