MARKSVILLE, La., Oct. 5, 2011 (GLOBE NEWSWIRE) -- After several years of trying to build a day care facility to serve the employees of businesses on the Tunica-Biloxi Tribe's Reservation, as well as residents of Avoyelles Parish and the surrounding communities, Joe Barbry's dream is one step closer to completion.
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Cenla Tunica-Biloxi Housing, Inc. was awarded $23,098 in Partnership Grant Program (PGP) funds from IBERIABANK, Red River Bank, The Cottonport Bank, and the Federal Home Loan Bank of Dallas (FHLB Dallas). Cenla Tunica-Biloxi Housing will use the funds to purchase equipment for the planned day care center.
Today, representatives from the banks gathered at the Paragon Casino Resort to announce the grant awards. They were joined by community members and local supporters, including Louisiana State Representative Robert Johnson, D-Marksville.
"We are so very honored to be part of a project that will encourage economic development by providing more jobs to our parish, and at the same time providing care and education for the development of the parish's most precious resource, our children," said Representative Johnson.
The day care center has been a longtime dream of Mr. Barbry, who serves as housing director for the Tunica-Biloxi Housing Department and as the director of Cenla Tunica-Biloxi Housing, Inc., a nonprofit entity that was created by the Tunica-Biloxi Tribal Council.
"A long time ago we saw the need for the people working here to have day care available to them," Mr. Barbry said. "It's awfully hard to find babysitters during the day, let alone at night, when many of the casino employees have their shifts. When faced with the option of coming into work or leaving your children at home unattended, any mom is going to choose her kids and risk losing her job."
The day care center will be built on 8.5 acres of land donated by the Tunica-Biloxi Tribe. The parcel is located adjacent to the casino near the front entrance. In the future, Cenla Tunica-Biloxi Housing, Inc. would also like to build an apartment complex on the land, but the day care facility is the first priority.
Through the PGP, FHLB Dallas awards partnership grants through its member institutions to provide funding for the operational needs of community-based organizations involved in affordable housing and community development. FHLB Dallas matches a member's cash contribution to a community-based organization of $500 up to $5,000 at a 3:1 ratio. Through its member institutions, FHLB Dallas awarded $225,000 in partnership grants in 2011.
"FHLB Dallas is proud to join three community financial institutions in awarding more than $23,000 to Cenla Tunica-Biloxi Housing, Inc.," said FHLB Dallas President and CEO Terry Smith.
IBERIABANK and FHLB Dallas awarded $1,444 in PGP funds toward the project.
"IBERIABANK recognizes the need for working families to have access to day care services for their children," said Carrie Curet, vice president and community development officer for IBERIABANK. "Cenla Tunica-Biloxi Housing's plan to build such a facility is one we support wholeheartedly, and we are pleased to partner with other community banks and FHLB Dallas to support this project."
Red River Bank and FHLB Dallas awarded $7,218 in PGP funds toward the project.
"This is another excellent example of the value of community banks collaborating and cooperating on important initiatives to improve the quality of life for residents of their respective communities," said Willie Spears, vice president for community investment at Red River Bank. "It's impressive how the Federal Home Loan Bank of Dallas provides resources to transform dreams into reality."
The Cottonport Bank and FHLB Dallas awarded $14,436 in PGP funds toward the project.
"The Cottonport Bank has been committed to supporting the Tribe for years," said A.J. Roy, III, president and CEO of The Cottonport Bank. "The Tribe has been a great friend of the community we all love. We are proud to help them in this most worthwhile endeavor involving late night child care, and we wish them continued success in all of their efforts."
Cenla Tunica-Biloxi Housing is still in the fundraising stage of the project, but plans to begin construction by the end of this month.
"We needed this funding," said Mr. Barbry. "Any help we can get from anywhere is appreciated and it's been a big plus. Right now, under these economic conditions, it's hard to find money."
About the Federal Home Loan Bank of Dallas
The Federal Home Loan Bank of Dallas is one of 12 district banks in the FHLBank System created by Congress in 1932. FHLB Dallas, with total assets of $31.4 billion as of June 30, 2011, is a member-owned cooperative that supports housing and community development by providing competitively priced advances and other credit products to more than 900 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas. For more information, visit the FHLB Dallas website at fhlb.com.
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