Louisiana Legislators Commend FHLB Dallas on 25th Anniversary of Affordable Housing Program

BATON ROUGE, La., May 5, 2015 /PRNewswire-USNewswire/ -- Affordable housing, funded through member institutions of the Federal Home Loan Bank of Dallas (FHLB Dallas), was recognized today by a Louisiana House and Senate concurrent resolution in honor of the 25^th anniversary of FHLB Dallas' Affordable Housing Program (AHP). Senate Concurrent Resolution No. 13 was sponsored by State Senator Francis Thompson (D-34), State Representative Jeff Arnold (D-102), and Louisiana House Speaker Pro-Tem Walt Leger III (D-91). The AHP helps very low- to moderate-income individuals and families with their housing needs.

Since 1990, Louisiana has been awarded more than $52 million in AHP competitive grants and $3.8 million in AHP set-aside program grants for the construction or rehabilitation of more than 340 housing projects. "Competitive" refers to the 100-point scale used to score applications. Applications achieving the highest scores receive first priority for funding. The set-aside programs assist first-time homebuyers and special-needs homeowners. The grants are awarded through participating FHLB Dallas member institutions.

U.S. Census figures from March 2015 show that 19.1 percent of Louisianans lived below the poverty level between 2009 and 2013. The preliminary estimate of weighted average poverty thresholds for 2014 reports that a family of four must earn more than the estimated $24,221 annually to be above the poverty line. Yet, even individuals and families earning more than this struggle to find affordable housing in their communities.

"I am pleased to be able to congratulate the Federal Home Loan Bank of Dallas on the 25th anniversary of their AHP program," Senator Thompson said. "Their contributions to the citizens of Louisiana are incalculable, and we welcome them as a continued housing partner."

Across its five-state District of Arkansas, Louisiana, Mississippi, New Mexico, and Texas, FHLB Dallas has awarded competitive AHP grants of more than $286 million to assist more than 41,000 families since 1990. The grants have helped to finance the construction and rehabilitation of rental and owner-occupied housing. More than $24 million has been awarded since 1990 in set-aside grants to help first-time homebuyers and special-needs homeowners across the District.

Bre Chapman, FHLB Dallas senior vice president and chief administrative officer, expressed FHLD Dallas' and its members' commitment to funding affordable housing.

"We are pleased to be able to fund housing initiatives through our members," she said. "As change agents for their communities, our members have built relationships with nonprofits, developers, and individuals to help fill in the gap of available affordable housing for very low- to moderate income individuals and families."

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 $36.9 billion as of March 31, 2015, is a member-owned cooperative that supports housing and community development by providing competitively priced advances and other credit products to approximately 900 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

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SOURCE Federal Home Loan Bank of Dallas

Related Links

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