Texas Border Business ---
Congressman Rubén Hinojosa (D-TX-15) announced two federal grants totaling $1,547,892 were awarded, by the U.S. Department of the Treasury, to two low-income housing providers in the Rio Grande Valley. $1,453,806 was awarded to Affordable Homes of South Texas, Inc. (AHSTI) in McAllen. $94,086 was awarded to the South Texas Collaborative for Housing Development, Inc. in La Feria.
The grants are available through the Community Development Financial Institutions Fund (CDFI) program with the U.S. Department of the Treasury.
"This is such a positive accomplishment for everyone involved at Affordable Homes of South Texas and the South Texas Collaborative for Housing Development," said U.S. Rep. Hinojosa. "I have personally seen first-hand the joy a family experiences when they are able to afford their first home. The funding from this federal program will provide financial literacy services for our constituents and will go a very long way in helping so many of our residents become homeowners in the Rio Grande Valley.”
Affordable Homes of South Texas Executive Director Bobby Calvillo says this grant could help 60 families or more. Funds will be used to finance homes for low-income families and will also provide financial literacy.
"Today’s U.S. Treasury CDFI grant announcement is great news for South Texas and for the AHSTI Board of Directors and staff. This $1.4 million will be used to provide responsible mortgage and consumer loan financing to families that are often vulnerable to predatory lenders for their financial services need. AHSTI has been a trusted mortgage provider as well as a quality affordable homebuilder for 36 years and currently has a waiting list of over 1,200 families in need of a new home. These funds will allow AHSTI to further diversify its programs and services to meet the needs of all our constituents; working families in Hidalgo County and South Texas," said Calvillo.
AHSTI is the recipient of the largest CDFI awards in Texas this year as well as a recipient of funding from the CDFI for the third consecutive year.