Grants will create or rehabilitate more than 2,100 housing units
DALLAS, November 15, 2021–(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 $18.5 million in Affordable Housing Program (AHP) grants to 26 projects, primarily in its five State Districts of Arkansas, Louisiana, Mississippi, New Mexico and Texas. The grants 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 throughout our district to improve the lives of those who need it most.”
FHLB Dallas returns 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 home rehabilitation and modifications for low-income, elderly, and special-needs residents; down payment and closing cost assistance for qualifying first-time homebuyers; and the construction of low-income multi-family rental communities and single-family homes.
Between 1990 and 2020, FHLB Dallas has awarded more than $323 million through AHP and Homeownership Set-Aside programs, such as a down payment assistance program, a home repair and modification program for seniors and other disabled people and a disaster recovery program to help more than 57,000 households.
Beatrice Kelly, senior vice president of Comerica Bank and director of community development loans, said the bank has benefited from the program for several years.
“Comerica Bank is honored to be 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 longtime member of FHLB Dallas, we have helped create economic opportunity 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
To look for
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, North America
Sponsor: Restoration Properties of New Orleans
Grant: $750,000 for 60 rental units
New Orleans
Member: Home Bank, North America
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
Hattiesburg
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 Missionary Baptist 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: Mobile Loaves & Fishes
Grant: $750,000 for 50 rental units
Member: Frost Bank
Sponsor: Austin Housing Finance Corp.
Grant: $750,000 for 171 rental units
Member: Prosperity Bank
Sponsor: Project Transitions
Grant: $750,000 for 61 rental units
Member: Wells Fargo Bank South Central
Sponsor: Foundation Communities
Grant: $750,000 for 88 rental units
Member: Wells Fargo Bank South Central
Sponsor: Foundation Communities
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: Texas Adult & Teen Challenge
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
Out of district: $3,000,000 for 372 units
California
long beach
Member: Wells Fargo Bank South Central
Sponsor: Villages of the Century 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 Federal Home Loan Bank of Dallas
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 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 our website at fhlb.com.
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