Federal Home Loan Bank of Dallas Awards $9.8 Million in Affordable Housing Grants

DALLAS, July 28, 2014 /PRNewswire/ -- The Federal Home Loan Bank of Dallas (FHLB Dallas) is pleased to announce that in partnership with its member financial institutions, it has awarded $9.8 million in Affordable Housing Program (AHP) grants to 33 projects, primarily within its five-state District.

FHLB Dallas returns 10 percent of its profits each year to the communities served by its member institutions in the form of AHP grants. 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 has been providing AHP grants through our member institutions for more than 20 years," said FHLB Dallas President and CEO Sanjay Bhasin. "There is a great demand for affordable housing within our Bank's five-state District and we are committed to helping meet this need."

The 2014 grants will result in the creation or rehabilitation of 1,586 housing units within FHLB Dallas' District of Arkansas, Louisiana, Mississippi, New Mexico, and Texas, as well as a few states outside FHLB Dallas' District, in which its members do business.

Below is the complete list of projects by state that received AHP grants in 2014. For more information on the 2014 AHP grants and other FHLB Dallas community investment products, please visit fhlb.com.

Arkansas $195,976 for 28 units

Benton
Member: Bank of the Ozarks
Sponsor: Habitat for Humanity of Saline County
Grant: $27,976 for 4 Ownership units

Humphrey
Member: First Security Bank
Sponsor: Independence Village, Inc.
Grant: $168,000 for 24 Rental units

Louisiana $1,887,500 for 287 units

Alexandria
Member: IBERIABANK
Sponsor: Habitat for Humanity of Louisiana
Grant: $70,000 for 10 Ownership units

Lake Charles
Member: First Federal Bank of Louisiana
Sponsor: Habitat for Humanity-Calcasieu Area, Inc.
Grant: $16,000 for 2 Ownership units

Member: First Federal Bank of Louisiana
Sponsor: Habitat for Humanity-Calcasieu Area, Inc.
Grant: $32,000 for 4 Ownership units

Mandeville
Member: Home Bank
Sponsor: Habitat for Humanity St. Tammany West
Grant: $45,500 for 7 Ownership units

New Orleans
Member: First NBC Bank
Sponsor: Hotel Hope
Grant: $100,000 for 14 Rental units

Member: First NBC Bank
Sponsor: Gulf Coast Housing Partnership
Grant: $400,000 for 40 Rental units

Member: Hope Federal Credit Union
Sponsor: Iris Development
Grant: $500,000 for 117 Rental units

Member: Whitney Bank
Sponsor: Greater New Orleans Teen Challenge, Inc.
Grant: $304,000 for 32 Rental units

Ruston
Member: Wells Fargo Bank South Central
Sponsor: National Church Residences
Grant: $420,000 for 61 Rental units

Mississippi $1,814,750 for 224 units

Bay St. Louis
Member: The First, A National Banking Association
Sponsor: Hancock Resource Center
Grant: $140,000 for 20 Ownership units

Camden
Member: BancorpSouth Bank
Sponsor: Sacred Heart Catholic Mission
Grant: $200,000 for 25 Ownership units

Hattiesburg
Member: BancorpSouth Bank
Sponsor: University of Southern Mississippi Institute for Disability Studies
Grant: $147,000 for 14 Ownership units

Member: BankPlus
Sponsor: University of Southern Mississippi Institute for Disability Studies
Grant: $147,000 for 14 Ownership units

Jackson
Member: BankPlus
Sponsor: Habitat for Humanity Mississippi Capital Area
Grant: $253,750 for 35 Ownership units

Lexington
Member: BankPlus
Sponsor: Community Students Learning Center
Grant: $495,000 for 60 Ownership units

McComb
Member: Trustmark National Bank
Sponsor: New Century Development Corporation
Grant: $182,000 for 26 Rental units

Waveland
Member: The First, A National Banking Association
Sponsor: Flagship United Community Development Corporation
Grant: $250,000 for 30 Rental units

New Mexico $1,378,000 for 327 units

Albuquerque
Member: Wells Fargo Bank South Central
Sponsor: NewLife Homes, Inc.
Grant: $500,000 for 155 Rental units

Member: Wells Fargo Bank South Central
Sponsor: YES Housing Inc.
Grant: $378,000 for 74 Rental units

Bernalillo
Member: Los Alamos National Bank
Sponsor: Santa Fe Civic Housing Authority
Grant: $500,000 for 98 Rental units

Texas $3,194,000 for 609 units

Dallas
Member: Amegy Bank, N.A.
Sponsor: Simpson ALF Realty LLC
Grant: $500,000 for 150 Rental units

El Campo
Member: Wells Fargo Bank South Central
Sponsor: National Church Residences
Grant: $259,000 for 38 Rental units

El Paso
Member: Wells Fargo Bank South Central
Sponsor: Artspace Projects, Inc.
Grant: $500,000 for 51 Rental units

Houston
Member: Amegy Bank, N.A.
Sponsor: The Men's Center Incorporated
Grant: $500,000 for 110 Rental units

Member: Wells Fargo Bank South Central
Sponsor: National Community Renaissance Development Corporation
Grant: $500,000 for 64 Rental units

Member: Amegy Bank, N.A.
Sponsor: The Women's Home
Grant: $500,000 for 84 Rental units

Mt. Pleasant
Member: Frost Bank
Sponsor: Pine Terrace Housing Ltd
Grant: $185,000 for 76 Rental units

Tyler
Member: Southside Bank
Sponsor: Habitat for Humanity of Smith County
Grant: $250,000 for 36 Ownership units

Out of District $1,338,000 for 111 units

Maryland

Jessup
Member: Wells Fargo Bank South Central
Sponsor: Howard County Housing Commission
Grant: $500,000 for 35 Rental units

Oregon

Roseburg
Member: Wells Fargo Bank South Central
Sponsor: Roseburg Rescue Mission
Grant: $500,000 for 50 Rental units

Washington

Graham
Member: Wells Fargo Bank South Central
Sponsor: Teen Challenge IPNC
Grant: $338,000 for 26 Rental units

About the Federal Home Loan Bank of Dallas

The Federal Home Loan Bank of Dallas is one of 12 district banks in the FHLBank System created by Congress in 1932. FHLB Dallas, with total assets of $30.6 billion as of March 31, 2014, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to approximately 900 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas. For more information, visit the FHLB Dallas website at fhlb.com.

Contact:

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

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SOURCE Federal Home Loan Bank of Dallas