Federal Home Loan Bank of Dallas Awards $14 Million in Affordable Housing Grants
Grants Will Result in the Creation or Rehabilitation of 1,853 Housing Units
DALLAS, TEXAS, November 13, 2018 – (RealEstateRama) — The Federal Home Loan Bank of Dallas (FHLB Dallas) is pleased to announce that, in partnership with its member financial institutions, it has awarded $14 million in Affordable Housing Program (AHP) grants to 29 projects in Arkansas, Louisiana, Mississippi, New Mexico and Texas, which will result in the creation or rehabilitation of 1,853 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’ AHP provides millions of dollars for housing in our District, which our member institutions use to develop and support their communities,” said FHLB Dallas President and CEO Sanjay Bhasin. “It is our privilege to provide a program through which our members can positively impact their communities.”
Since the AHP’s inception in 1990, FHLB Dallas has awarded more than $261 million in AHP and AHP set-aside programs, such as Homebuyer Equity Leverage Partnership and Special Needs Assistance Program, have assisted more than 48,500 households.
Texas Capital Bank was recently recognized by FHLB Dallas for its commitment to community investment. The bank has utilized more than $7 million in FHLB Dallas program funds for its community.
“One of the things we love about utilizing the programs that the Federal Home Loan Bank of Dallas offers is that we’re able to leverage resources and help organizations make an even greater impact in our community,” said Jenny Leighton-Guzman, vice president at Texas Capital Bank.
Following is the complete, state-by-state list of the 2018 AHP grant recipients. For more information about the 2018 AHP grants and other FHLB Dallas community investment products and programs, please visit fhlb.com.
Arkansas $536,250 for 39 units
Alma
Member: BancorpSouth Bank
Sponsor: Stepping Stone School for Exceptional Children
Grant: $296,250 for 15 Rental units
Fort Smith
Member: Simmons Bank
Sponsor: Children’s Emergency Shelter
Grant: $240,000 for 24 Rental units
Louisiana $4,688,000 for 319 units
Bastrop
Member: Woodforest National Bank
Sponsor: BDT Housing Services Enterprise
Grant: $200,000 for 20 Rental units
Boyce
Member: Red River Bank
Sponsor: St. Mary’s Residential Training School
Grant: $738,000 for 72 Rental units
Franklin
Member: Home Bank, N.A.
Sponsor: Gulf Coast Housing Partnership
Grant: $750,000 for 60 Rental units
Houma
Member: Synergy Bank
Sponsor: Options for Independence
Grant: $750,000 for 7 Rental units
Member: Pedestal Bank
Sponsor: Start Corporation
Grant: $750,000 for 8 Rental units
New Orleans
Member: Fifth District Savings Bank
Sponsor: Odyssey House Louisiana
Grant: $750,000 for 52 Rental units
St. Martinville
Member: Home Bank, N.A.
Sponsor: Gulf Coast Housing Partnership
Grant: $750,000 for 100 Rental units
Mississippi $6,198,810 for 897 units
Bay St. Louis
Member: BancorpSouth Bank
Sponsor: Habitat for Humanity Bay Waveland Area
Grant: $136,850 for 14 Owner units
Member: Renaissance Commercial Loan Fund, Inc.
Sponsor: Hancock Resource Center
Grant: $700,000 for 70 Rental units
Bolton
Member: BancorpSouth Bank
Sponsor: Town of Bolton Development Corporation
Grant: $390,000 for 40 Rental units
Jackson
Member: BancorpSouth Bank
Sponsor: Corporation for Global Community Development
Grant: $210,000 for 14 Rental units
Laurel
Member: The First, a National Banking Association
Sponsor: Laurel Housing Authority
Grant: $375,000 for 38 Owner units
Member: The First, a National Banking Association
Sponsor: LHA Enterprise Development LLC
Grant: $750,000 for 124 Rental units
Member: Trustmark National Bank
Sponsor: Home Again, Inc.
Grant: $750,000 for 100 Rental units
Lexington
Member: BankPlus, NA
Sponsor: Community Students Learning Center
Grant: $745,200 for 75 Owner units
Lucedale
Member: Community Bank of Mississippi
Sponsor: George/Greene Habitat for Humanity
Grant: $120,000 for 12 Owner units
Mound Bayou
Member: Guaranty Bank & Trust Company
Sponsor: Mound Bayou Housing Authority
Grant: $375,000 for 50 Owner units
Natchez
Member: Tensas State Bank
Sponsor: New Hope Missionary Baptist Church
Grant: $266,760 for 29 Rental units
Vicksburg
Member: BancorpSouth Bank
Sponsor: City of Vicksburg
Grant: $130,000 for 13 Owner units
Member: BancorpSouth Bank
Sponsor: City of Vicksburg
Grant: $100,000 for 10 Owner units
Waveland
Member: The First, a National Banking Association
Sponsor: Hancock Resource Center
Grant: $400,000 for 40 Owner units
Yazoo City
Member: Bank of Yazoo City
Sponsor: Yazoo City Housing Authority
Grant: $750,000 for 268 Rental units
New Mexico $420,000 for 42 units
Albuquerque
Member: Wells Fargo Bank South Central
Sponsor: St. Martin’s Hospitality Center
Grant: $420,000 for 42 Rental units
Texas $2,302,000 for 556 units
Gregory
Member: Home Federal Bank
Sponsor: Gregory Housing Authority
Grant: $580,000 for 58 Rental units
Houston
Member: Texas Capital Bank, N.A.
Sponsor: Harmony House, Inc.
Grant: $750,000 for 128 Rental units
Member: Texas Capital Bank, N.A.
Sponsor: Star of Hope Mission
Grant: $222,000 for 328 Rental units
Magnolia
Member: Frost Bank, N.A.
Sponsor: Adult and Teen Challenge of Texas
Grant: $750,000 for 42 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 $73.7 billion as of September 30, 2018, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to approximately 825 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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Contact:
Corporate Communications
Federal Home Loan Bank of Dallas
fhlb.com
(214) 441-8445
