Applications Are Available for FHLB Dallas' Partnership Grant Program

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Federal Home Loan Bank of Dallas

Jun 10, 2015, 12:15 ET

DALLAS, June 10, 2015 /PRNewswire/ -- The Federal Home Loan Bank of Dallas (FHLB Dallas) is accepting Partnership Grant Program (PGP) applications through its members from now until June 26 for a share of $225,000 in grant funds for community-based organizations.

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FHLB Dallas has made available $225K in grants for community-based organizations. Belen MainStreet has used these funds for administrative costs and to fund special community projects.
FHLB Dallas has made available $225K in grants for community-based organizations. Belen MainStreet has used these funds for administrative costs and to fund special community projects.

Partnership grants are offered through FHLB Dallas member institutions to provide funding for the operational needs of community-based organizations involved in affordable housing and community development. FHLB Dallas matches a member's cash contributions to a community-based organization of $500 up to $4,000 at a 3:1 ratio. Collectively, FHLB Dallas and its member institutions awarded $301,753 in total grants to community-based organizations in 2014.

Any eligible FHLB Dallas member institution is able to sponsor a grant application for an eligible community-based organization. Those applications are then selected via a lottery system and award winners will be announced in late July or early August.

"Many of our members are strong believers in community outreach and support of community organizations," said Greg Hettrick, vice president and director of Community Investment at FHLB Dallas. "The match-funding provided by the PGP allows our members' contributions to go farther to help organizations that focus on affordable housing or economic development with their operational needs."

Potential uses of PGP funds

  • Organizational Capacity Building: to offset operational and administrative expenses; purchase or rent equipment or computer software, etc.; hire staff and/or consultants
  • Assistance in Applying for Grants and Other Funding Sources: to cover expenses in preparing applications for Bank programs; hiring fundraising and/or grant-writing consultants
  • Contractual Services: for architectural, engineering, and survey fees (pre-development project costs); or legal, accounting, and administrative costs (program operating expenses)

Visit our YouTube page to see how a MainStreet organization in Belen, New Mexico, utilized PGP funds to further its revitalization efforts.

For more information, visit the Community section of fhlb.com and click on Partnership Grant Program.

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 $36.9 billion as of March 31, 2015, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to approximately 865 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas. For more information, visit fhlb.com.

Contact:

Corporate Communications
Federal Home Loan Bank of Dallas
www.fhlb.com
(214) 441-8445

Video - https://www.youtube.com/watch?v=tM4_fenvxMc
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SOURCE Federal Home Loan Bank of Dallas

Related Links

http://www.fhlb.com