DALLAS--(BUSINESS WIRE)--The Federal Home Loan Bank of Dallas (FHLB Dallas) is pleased to announce that, in partnership with its member financial institutions, it has awarded $7 million in Affordable Housing Program (AHP) grants to 19 projects in Arkansas, Louisiana, Mississippi and Texas, which will result in the creation or rehabilitation of 1,108 housing units.
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.
“FHLB Dallas’ member institutions serve their communities well through active involvement in affordable housing development,” said FHLB Dallas President and CEO Sanjay Bhasin. “Their membership in FHLB Dallas provides a bridge to the AHP and other grant programs that annually provide millions of dollars for housing in our District.”
Below is the complete, state-by-state list of the 2017 AHP grant recipients. For more information about the 2017 AHP grants and other FHLB Dallas community investment products and programs, please visit fhlb.com.
Arkansas $429,000 for 42 units
Little Rock
Member: BancorpSouth Bank
Sponsor: Feed
Arkansas Kids
Grant: $189,000 for 18 Rental units
Mulberry
Member: Arvest Bank
Sponsor: Regional Housing
Solutions
Grant: $240,000 for 24 Rental units
Louisiana $1,676,516 for 113 units
Alexandria
Member: Red River Bank
Sponsor: GAEDA
Revitalization Corporation
Grant: $339,876 for 50 Owner units
Boyce
Member: Red River Bank
Sponsor: St. Mary’s
Residential Training School
Grant: $450,000 for 48 Rental units
Houma
Member: Synergy Bank
Sponsor: Options for
Independence
Grant: $500,000 for 5 Rental units
Member: Synergy Bank
Sponsor: MacDonell Children’s Services
Grant:
$386,640 for 10 Rental units
Mississippi $1,483,000 for 231 units
Canton
Member: BankPlus
Sponsor: Madison Countians
Allied Against Poverty
Grant: $70,000 for 10 Owner units
Gulfport
Member: The Peoples Bank
Sponsor: Gulf Coast
Housing Partnership
Grant: $500,000 for 80 Rental units
Jackson
Member: BankPlus
Sponsor: Habitat for Humanity
Mississippi Capital Area
Grant: $175,000 for 25 Owner units
Laurel
Member: The First, A National Banking Association
Sponsor:
Laurel Housing Authority
Grant: $488,000 for 72 Owner units
Vicksburg
Member: BancorpSouth Bank
Sponsor: Vicksburg
Housing Authority
Grant: $250,000 for 44 Rental units
Texas $3,419,168 for 722 units
Austin
Member: Frost Bank
Sponsor: The Salvation Army
Grant:
$500,000 for 203 Rental units
Member: Frost Bank
Sponsor: Accessible Housing Austin
Grant:
$189,000 for 27 Rental units
Azle
Member: Frost Bank
Sponsor: Adult & Teen Challenge
of Texas
Grant: $500,000 for 48 Rental units
Dallas
Member: Frost Bank
Sponsor: St. Jude Inc.
Grant:
$500,000 for 100 Rental units
Houston
Member: Texas Capital Bank, N.A.
Sponsor: Star
of Hope Mission
Grant: $500,000 for 180 Rental units
Killeen
Member: Home Federal Bank
Sponsor: Killeen
Housing Authority
Grant: $500,000 for 76 Rental units
Plano
Member: Guaranty Bank & Trust, N.A.
Sponsor:
Plano Housing Corporation
Grant: $300,000 for 40 Rental units
Tyler
Member: Austin Bank, Texas N.A.
Sponsor: Hiway 80
Rescue Mission
Grant: $430,168 for 48 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 $62.9 billion as of June 30, 2017, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to approximately 850 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit our website at fhlb.com.
