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.