There are a couple of senior housing complexes that are weathering the COVID-19 a bit better thanks to a partnership of Tolleson Private Bank, Federal Home Loan Bank of Dallas (FHLB Dallas) and Catholic Housing Initiative. Called Partnership Grant Program (PGP), the come-together “helps qualified nonprofits organizations fund a variety of operational and administrative activities that are critical to serving their communities.”
According to Catholic Housing Initiative Executive Director Bill Hall, “Few grants offer the flexibility to apply funds toward administrative and operational expenses. We are thankful to have these funds to help offset some of our day-to-day expenses of providing affordable housing to senior in the Dallas-Fort Worth area.”
Tolleson Private Bank Executive VP of Operations and Compliance Steve Westerheide explained, “Housing costs continue to rise in Dallas and so many of our seniors are living on incomes that just don’t stretch very far. This was an opportunity for us to make a positive impact on our city and its residents.”
The funds will be used to offset administration and operating expenses in providing housing for Notre Dame’s low-income seniors in Oak Cliff and mixed-income seniors at Santa Maria in East Dallas.
FHLB Dallas 1st VP /Director of Community Investments Greg Hettrick, said, “Operating senior housing can be costly and service intensive. Our partnership with Tolleson Private Bank will help Notre Dame Place and Villa Santa Maria to continue to provide safe and affordable housing to Dallas residents as they age.”
By the way, if Bill’s name sounds familiar, it’s because he was previously head of Dallas’ Habitat for Humanity.