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

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