Federal Home Loan Bank of Dallas Awards More Than $7.6 Million in Affordable Housing Grants
DALLAS, TEXAS – August 11, 2015 – (RealEstateRama) — The Federal Home Loan Bank of Dallas (FHLB Dallas) is pleased to announce that, in partnership with its member financial institutions, it has awarded more than $7.6 million in Affordable Housing Program (AHP) grants to 30 projects, primarily within its five-state District.
FHLB Dallas annually returns 10 percent of its profits in the form of AHP grants to the communities served by its member institutions. AHP funding is utilized for a variety of projects, including home rehabilitation and modifications for low-income, elderly, and special needs residents; down payment and closing cost assistance for qualified first-time homebuyers; and the construction of low-income, multifamily rental communities and single-family homes.
“July 2015 marked the 25th anniversary of the Affordable Housing Program. In partnership with our member institutions, more than 44,000 families have been positively impacted by the program,” said President and CEO Sanjay Bhasin. “Assisting our members to continue financing affordable housing activities within their communities remains a cornerstone of our mission.”
The 2015 grants will result in the creation or rehabilitation of 1,039 housing units within FHLB Dallas’ District of Arkansas, Louisiana, Mississippi, New Mexico, and Texas, as well as one state outside of FHLB Dallas’ District in which its members do business.
Below is the complete, state-by-state list of the 2015 AHP grant recipients. For more information about the 2015 AHP grants and other FHLB Dallas community investment products and programs, please visitfhlb.com.
Arkansas $1,115,000 for 163 units
Fort Smith
Member: The FNB of Fort Smith
Sponsor: Old Fort Homeless Coalition
Grant: $500,000 for 75 Rental units
Harrison
Member: Simmons First National Bank
Sponsor: Northwest Regional Housing Authority
Grant: $105,000 for 15 Ownership units
Hot Springs
Member: Bank of the Ozarks
Sponsor: Garland County Habitat for Humanity
Grant: $35,000 for 5 Ownership units
Little Rock
Member: Bank of the Ozarks
Sponsor: Habitat for Humanity of Pulaski County
Grant: $70,000 for 10 Ownership units
North Little Rock
Member: Hope Federal Credit Union
Sponsor: North Little Rock Housing Authority
Grant: $336,000 for 48 Rental units
Russellville
Member: Simmons First National Bank
Sponsor: Universal Housing Development Corporation
Grant: $69,000 for 10 Ownership units
Louisiana $803,727 for 140 units
Covington
Member: Whitney Bank
Sponsor: Volunteers of America, Greater New Orleans
Grant: $87,927 for 12 Ownership units
Hammond
Member: Whitney Bank
Sponsor: City of Hammond
Grant: $90,000 for 10 Ownership units
New Orleans
Member: First Bank & Trust
Sponsor: MQVN Community Development Corporation
Grant: $500,000 for 100 Rental units
Member: Whitney Bank
Sponsor: Jericho Road Episcopal Housing Initiative
Grant: $70,000 for 10 Ownership units
Shreveport
Member: Red River Bank
Sponsor: The Fuller Center for Housing of NWLA
Grant: $55,800 for 8 Ownership units
Mississippi $1,466,700 for 173 units
Bay St. Louis
Member: The First, A National Banking Association
Sponsor: Hancock Resource Center
Grant: $240,000 for 30 Ownership units
Canton
Member: BankPlus
Sponsor: Madison Countians Allied Against Poverty
Grant: $140,000 for 20 Ownership units
Member: BankPlus
Sponsor: Canton Housing Authority
Grant: $500,000 for 50 Ownership units
Hattiesburg
Member: BankPlus
Sponsor: The University of Southern Mississippi Institute for Disability Studies
Grant: $140,000 for 14 Ownership units
Member: BancorpSouth Bank
Sponsor: The University of Southern Mississippi Institute for Disability Studies
Grant: $140,000 for 14 Ownership units
Jackson
Member: BankPlus
Sponsor: Jackson Housing Authority
Grant: $140,000 for 20 Ownership units
Meridian
Member: BankPlus
Sponsor: Multi-County Community Service Inc.
Grant: $166,700 for 25 Ownership units
New Mexico $1,426,000 for 222 units
Albuquerque
Member: New Mexico Bank & Trust
Sponsor: Albuquerque Rescue Mission
Grant: $500,000 for 60 Rental units
Member: New Mexico Bank & Trust
Sponsor: Albuquerque Rescue Mission
Grant: $286,000 for 26 Rental units
Santa Fe
Member: Los Alamos National Bank
Sponsor: Santa Fe Civic Housing Authority
Grant: $500,000 for 116 Rental units
Member: Wells Fargo Bank South Central
Sponsor: Pueblo of Pojoaque Housing Corporation
Grant: $140,000 for 20 Rental units
Texas $2,319,000 for 265 units
Austin
Member: Frost Bank
Sponsor: Accessible Housing Austin
Grant: $189,000 for 27 Rental units
Corpus Christi
Member: Wells Fargo Bank South Central
Sponsor: Housing and Community Services, Inc.
Grant: $476,000 for 68 Rental units
Fort Worth
Member: Texas Capital Bank, N.A.
Sponsor: Presbyterian Night Shelter Tarrant County
Grant: $500,000 for 40 Rental units
Houston
Member: Amegy Bank, N.A.
Sponsor: Tejano Center for Community Concerns
Grant: $500,000 for 52 Rental units
Member: Amegy Bank, N.A.
Sponsor: The Men’s Center Incorporated
Grant: $500,000 for 56 Rental units
San Juan
Member: International Bank of Commerce
Sponsor: Proyecto Azteca
Grant: $140,000 for 20 Ownership units
Tyler
Member: Southside Bank
Sponsor: Habitat for Humanity of Smith County
Grant: $14,000 for 2 Ownership units
Out of District $500,000 for 76 units
Brainerd, Minnesota
Member: Wells Fargo Bank South Central
Sponsor: Minnesota Teen Challenge
Grant: $500,000 for 76 Rental units
About the Federal Home Loan Bank of Dallas
The Federal Home Loan Bank of Dallas is one of 11 district banks in the FHLBank System created by Congress in 1932. FHLB Dallas, with total assets of $42.6 billion as of June 30, 2015, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to approximately 865 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas. For more information, visit our website at fhlb.com.
Contact:
Corporate Communications
Federal Home Loan Bank of Dallas
www.fhlb.com
(214) 441-8445
