Taos Housing Partnership Receives $30K Grant to Support Economic Development
The Federal Home Loan Bank of Dallas (FHLB Dallas) and Centinel Bank of Taos have awarded $30,000 in Partnership Grant Program (PGP) funding to the Taos Housing Partnership, supporting efforts to promote economic growth and housing initiatives in Taos, New Mexico. This grant is part of the $1.2 million in PGP funding distributed by FHLB Dallas and its member institutions in 2024.
Boosting Local Community Initiatives
Centinel Bank of Taos contributed $5,000 to the grant, which FHLB Dallas matched with $25,000. These funds will help the Taos Housing Partnership, established in 2023, strengthen its organizational capacity. Key initiatives include:
- Homebuyer counseling and education
- Mortgage assistance programs
- Preservation of affordable housing
- Community outreach initiatives
“We are thrilled to support this program that empowers local nonprofits,” said Angel Reyes, President and CEO of Centinel Bank. “This investment will enrich our community and help more people achieve homeownership.”
Expanding Nonprofit Impact
The PGP allows FHLB Dallas member institutions to contribute between $500 and $5,000 to local nonprofits, with FHLB Dallas matching contributions at a 5:1 ratio for grants up to $25,000 per member. This program fosters relationships between community-based organizations and FHLB Dallas members, helping nonprofits amplify their impact.
Lisa O’Brien, Executive Director of the Taos Housing Partnership, expressed gratitude for the grant. “This funding strengthens our ability to implement our strategic plan and continue serving as a bridge between government and private sector partners. It’s a critical step forward in our mission to expand affordable housing options.”
Supporting Emerging Nonprofits
Greg Hettrick, Senior Vice President and Director of Community Investment at FHLB Dallas, emphasized the significance of PGP funding. “The Partnership Grant Program allows local banks to directly support their communities. These grants can be transformative for emerging nonprofits, enabling them to grow and achieve meaningful impact.
