Federal Home Loan Bank of Dallas Provides $ 18.5 Million for Affordable Housing

The grants will make it possible to create or rehabilitate more than 2,100 housing units

DALLAS, November 15, 2021– (COMMERCIAL THREAD) – The Federal Home Loan Bank of Dallas (FHLB Dallas) is pleased to announce that in partnership with its member financial institutions, it has awarded $ 18.5 million in Affordable Housing Program (AHP) grants to 26 projects, mainly within the framework of its five projects. State District of Arkansas, Louisiana, Mississippi, New Mexico and Texas. The subsidies will result in the creation or rehabilitation of 2,113 housing units.

“FHLB Dallas member institutions play an important role in funding affordable housing initiatives in their communities,” said FHLB Dallas President and CEO Sanjay Bhasin. “The AHP enables our members to provide millions of dollars across our district to improve the lives of those who need it most.

FHLB Dallas donates 10% of its profits annually in the form of AHP grants to the communities served by its member institutions. AHP funding is used for a variety of projects, including rehabilitation and home modifications for low-income residents, the elderly and residents with special needs; down payment and closing cost assistance for eligible first-time homebuyers; and the construction of low-income multi-family rental housing and single-family homes.

Between 1990 and 2020, FHLB Dallas awarded over $ 323 million under AHP and Home Ownership Reserve programs, such as down payment assistance program, reparation program and home modification for the elderly and disabled and a disaster recovery program to help more than 57,000 households.

Beatrice Kelly, senior vice president and director of community development loans at Comerica Bank, said the bank has benefited from the program for several years.

“Comerica Bank is honored to be a part of the Affordable Housing Program as we strive to raise expectations and make impactful investments in the communities we serve through strategic partnerships,” said Ms. Kelly. “As a long-time member of the FHLB Dallas, we have helped create economic opportunities in areas that need our support. We are grateful for the program and its continued commitment to advancing financial inclusion. “

Below is a state-by-state list of AHP 2021 Grants. For more information on AHP 2021 Grants and other FHLB Dallas community investment products and programs, please visit fhlb.com/ahp.

Arkansas: $ 1,500,000 for 102 units

Houston
Member: BancorpSouth Bank
Sponsor: Renewal Ranch
Grant: $ 750,000 for 42 rental units

serious
Member: Centennial Bank
Sponsor: Searcy Housing Solutions Inc.
Grant: $ 750,000 for 60 rental units

Louisiana: $ 3,000,000 for 323 units

Franklin
Member: Home Bank, NA
Sponsor: New Orleans Restoration Properties
Grant: $ 750,000 for 60 rental units

New Orleans
Member: Home Bank, NA
Sponsor: building blocks
Grant: $ 750,000 for 62 rental units

Member: Fifth District Savings Bank
Sponsor: Ozanam Inn
Grant: $ 750,000 for 157 rental units

Opelousas
Member: St. Landry Homestead FSB
Sponsor: The Refinery Mission
Grant: $ 750,000 for 44 rental units

Mississippi: $ 2,450,000 for 234 units

Canton
Member: The First, a national banking association
Sponsor: Central Mississippi Housing and Development Corp.
Grant: $ 750,000 for 64 rental units

Hattiesbourg
Member: The First, a national banking association
Sponsor: Hattiesburg Housing Authority
Grant: $ 750,000 for 108 rental units

Jackson
Member: Hope Federal Credit Union
Sponsor: Jackson Resource Center
Grant: $ 450,000 for 30 rental units

Natchez
Member: Tensas State Bank
Sponsor: New Hope Baptist Missionary Church
Grant: $ 500,000 for 32 rental units

New Mexico: $ 1,050,000 for 96 units

Ohkay owingeh
Member: Century Bank
Sponsor: Ohkay Owingeh Housing Authority
Grant: $ 300,000 for 30 owner units

Rio Rancho
Member: Wells Fargo Bank South Central
Sponsor: CC Housing, Inc.
Grant: $ 750,000 for 66 rental units

Texas: $ 7,500,000 for 986 units

Austin
Member: Frost Bank
Sponsor: Loaves and Movable Fish
Grant: $ 750,000 for 50 rental units

Member: Frost Bank
Sponsor: Austin Housing Finance Corp.
Grant: $ 750,000 for 171 rental units

Member: Bank of Prosperity
Sponsor: Project Transitions
Grant: $ 750,000 for 61 rental units

Member: Wells Fargo Bank South Central
Sponsor: Communities Foundation
Grant: $ 750,000 for 88 rental units

Member: Wells Fargo Bank South Central
Sponsor: Communities Foundation
Grant: $ 750,000 for 135 rental units

corpus Christi
Member: Frost Bank
Sponsor: The Salvation Army
Grant: $ 750,000 for 132 rental units

Houston
Member: Banque Comerica
Sponsor: Mountain Top Development
Grant: $ 750,000 for 205 rental units

Member: Texas Capital Bank, NA
Sponsor: Covenant House Texas
Grant: $ 750,000 for 52 rental units

Kingsville
Member: Frost Bank
Sponsor: Adult & Teen Challenge of Texas
Grant: $ 750,000 for 42 rental units

Welasco
Member: Wells Fargo Bank South Central
Sponsor: Prospera Housing Community Services
Grant: $ 750,000 for 50 rental units

Outside district: $ 3,000,000 for 372 units

California

Long beach
Member: Wells Fargo Bank South Central
Sponsor: Century Villages in Cabrillo
Grant: $ 750,000 for 90 rental units

Colorado

Denver
Member: Wells Fargo Bank South Central
Sponsor: Colorado Coalition for the Homeless
Grant: $ 750,000 for 101 rental units

Florida

Opa-Locka
Member: Wells Fargo Bank South Central
Sponsor: Wellspring Community Resources
Grant: $ 750,000 for 110 rental units

North Carolina

Lexington
Member: OZK Bank
Sponsor: The Mid-Atlantic Foundation
Grant: $ 750,000 for 71 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 established by Congress in 1932. FHLB Dallas, with total assets of $ 60.2 billion as of September 30, 2021, is a cooperative owned by its members which 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 our website at fhlb.com.

See the source version on businesswire.com: https://www.businesswire.com/news/home/2021115006320/en/

Contacts

Business communication
Federal Home Loan Bank of Dallas
fhlb.com
(214) 441-8445

Bernadine J. Perkins