DALLAS--(BUSINESS WIRE)--The Federal Home Loan Bank of Dallas (FHLB Dallas) has launched a $1 million fund to support affordable housing on tribal lands in its District of Arkansas, Louisiana, Mississippi, New Mexico and Texas.
Through the new, Native American Housing Opportunities Fund, federally recognized tribes and Tribally Designated Housing Entities (TDHEs) sponsored by an FHLB Dallas member may apply for grants of $50,000 to $150,000 per application.
Applications will be accepted from June 3 through July 12, 2024. An FHLB Dallas member institution must email the application and supporting documentation as a PDF attachment to NAHO@fhlb.com. Visit the website to search members by state.
Eligible uses for the Native American Housing Opportunities Fund include:
- Down payment and closing cost assistance for home purchases
- Repairs to owner-occupied homes
- Rental assistance for tribal members
- New construction or rehabilitation of existing housing
- New program or product development
- Enhancements to information technology and systems
- Consultant fees (nonemployees, separately invoiced)
- Predevelopment costs
“Our District has about 30 federally recognized tribes that could potentially benefit from this new initiative,” said Greg Hettrick, senior vice president and director of Community Investment at FHLB Dallas. “We are eager to open the application window on this brand-new fund.”
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 $125.1 billion as of March 31, 2024, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to approximately 800 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit Federal Home Loan Bank of Dallas.
