Development Corporation Re-Roofs 8 Homes

The University District Development Corporation (UDDC) has secured funding from the Federal Home Loan Bank of Dallas' Special Needs Assistance Program ("SNAP") grant to replace the roofs of eight homes in University District neighborhoods. SNAP funds provide up to $5,000 toward minor repair costs for homeowners age 55 or older or those having a documented disability and income of 80 percent or below the median income for the area.

The Federal Home Loan Bank of Dallas' region includes Arkansas, Louisiana, Mississippi, Texas, and New Mexico. Each member bank can receive up to $90,000 for local rehabilitation grants, and the Dallas region has a total of $1.5 million to award on a first-come, first-served basis. Homeowners receiving the grant must stay in their home for five years for the loan to be fully forgiven. This is the second year of SNAP grants. Several homes in the state benefited last year.