Central City, one of New Orleans’ oldest neighborhoods, will benefit from a $70,000 Affordable Housing Program grant from the Federal Home Loan Bank of Dallas and member institution Whitney Bank.

FHLB Dallas annually returns 10 percent of its profits in the form of AHP grants to the communities served by its member institutions.

Ten homes of very low-income elderly residents will be rehabilitated to meet the minimum standards for building codes for residential construction.

Jericho Road Episcopal Housing Initiative of New Orleans, a neighborhood-based homebuilder, is spearheading the effort and plans to paint house exteriors, make the homes more accommodating to physically impaired elderly people and improve energy efficient to reduce homeowners’ expenses.

“We are thrilled to be a part of this project,” said Ashley Aubrey Harrison, assistant vice president and community affairs representative at Whitney Bank.