Media Advisory: Lea County State Bank and FHLB Dallas to Award $16K to Affordable Housing Nonprofit

***11:00 a.m. Thursday, October 13, 301 E. Navajo Drive, Hobbs, NM 88240***

Lea County State Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas) will award $16,000 in Partnership Grant Program (PGP) funds to Habitat for Humanity of Hobbs, New Mexico Area (Hobbs Habitat). Hobbs Habitat provides affordable mortgages and uses volunteers to help homeowners build their own homes. The funds will be awarded at a ceremonial check presentation Thursday, October 13. Media is encouraged to attend.

PGP grants are awarded annually through FHLB Dallas’ member institutions to help promote and strengthen relationships between community-based organizations and FHLB Dallas members. FHLB Dallas provides up to a 3:1 match of member contributions from $500 to $4,000 to provide up to $12,000 in matched funding.

Hobbs Habitat will use the grant for contractual services to develop a new subdivision that includes 14 homes to be sold to families at cost. Hobbs Habitat also plans to use funds for new office equipment.

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