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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