Federal Home Loan Bank of Dallas 2024 Affordable Housing Advisory Council Annual Report Highlights Record Community Investment Funding

Four Pilot Programs Debuted Alongside a Milestone Year for the flagship Affordable Housing Program

DALLAS--(BUSINESS WIRE)--The Federal Home Loan Bank of Dallas (FHLB Dallas) has released its 2024 Affordable Housing Advisory Council (AHAC) Annual Report detailing a record-breaking year of funding through its community investment programs. Cumulatively, FHLB Dallas funded $149.5 million through the Affordable Housing Program (AHP), homeownership set-aside programs and voluntary programs. The report also highlights the introduction of four pilot programs, three of which serve Community Development Financial Institutions (CDFIs).

In 2024, FHLB Dallas distributed a record $78.9 million in AHP General Fund grants for 41 projects. AHP grants assist FHLB Dallas members in financing the purchase, construction and rehabilitation of owner-occupied, rental or transitional housing and housing for homeless individuals.

The report also highlights the success of FHLB Dallas’ homeownership set-aside programs: the Homebuyer Equity Leverage Partnership (HELP), the Special Needs Assistance Program (SNAP) and Disaster Rebuilding Assistance (DRA). HELP, which supports first-time homebuyers with down payment and closing costs, saw its largest-ever funding allocation of $15.5 million, a 139 percent increase over 2023.

FHLB Dallas launched three CDFI pilot programs: the Capacity Building and Growth Grant (CBGG), the Community Advancement Through New Opportunities and Partnerships Yielding Results (CANOPY) Fund and the Community Development Special Finance Program (CDSFP). A fourth pilot program, the Native American Housing Opportunities (NAHO) Fund, was launched to improve access to affordable housing grants for Native American communities.

“2024 was a transformative year for our community investment initiatives,” said Greg Hettrick, senior vice president and director of Community Investment at FHLB Dallas. “The launch of our pilot programs, combined with a record-breaking year for our Affordable Housing Program and homeownership programs, underscores our unwavering commitment to strengthening communities. We look forward to building on this momentum in the years ahead.”

Key highlights of the report include:

• $78.9 million in AHP General Fund grants for 41 affordable housing projects that will help create 3,571 new or rehabilitated housing units
• $15.5 million for down payment and closing costs grants through HELP which assists eligible first-time homebuyers
• $2.5 million for DRA for homeowner repair grants in federally declared disaster areas within the FHLB Dallas District (Arkansas, Louisiana, Mississippi, New Mexico and Texas)
• $2 million for SNAP grants for home repairs and modifications such as wheelchair ramps to meet the needs of homeowners with special needs
• $4 million for 302 grants through the FHLB Dallas FORTIFIED Fund for storm-resistant roofs
• $4.1 million in Small Business Boost loans that supported 56 businesses and created 361 jobs
• $2 million in Heirs’ Property Program grants to assist 33 nonprofit, governmental and tribal entities with initiatives that help prevent or address heirs’ property issues
• $1 million in Partnership Grant Program funds to assist 47 qualified community-based organizations with their operational needs

To access the full report, please visit fhlb.com. Detailed information about FHLB Dallas’ community programs can be found at fhlb.com/community-programs.

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 $109.9 billion as of March 31, 2025, 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 fhlb.com.