Federal Home Loan Bank of Dallas Awards $16 Million in Affordable Housing Grants

The Federal Home Loan Bank of Dallas (FHLB Dallas) is pleased to announce that, in partnership with its member financial institutions, it has awarded $16.3 million in Affordable Housing Program (AHP) grants to 34 projects in Arkansas, Louisiana, Mississippi, New Mexico and Texas, which will result in the creation or rehabilitation of 2,057 housing units.

Information
Content
Key Points: 
  • The Federal Home Loan Bank of Dallas (FHLB Dallas) is pleased to announce that, in partnership with its member financial institutions, it has awarded $16.3 million in Affordable Housing Program (AHP) grants to 34 projects in Arkansas, Louisiana, Mississippi, New Mexico and Texas, which will result in the creation or rehabilitation of 2,057 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.
  • The Federal Home Loan Bank of Dallas was created in 1932 to provide affordable housing opportunities to in-need communities and we are proud to continue to do so by offering $16.3 million in Affordable Housing Program funds through our members, said FHLB Dallas President and CEO Sanjay Bhasin.
  • Arvest Bank has utilized the AHP and AHP set-aside programs since 2012, investing more than $3.6 million in its community.


The Federal Home Loan Bank of Dallas (FHLB Dallas) is pleased to announce that, in partnership with its member financial institutions, it has awarded $16.3 million in Affordable Housing Program (AHP) grants to 34 projects in Arkansas, Louisiana, Mississippi, New Mexico and Texas, which will result in the creation or rehabilitation of 2,057 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.

“The Federal Home Loan Bank of Dallas was created in 1932 to provide affordable housing opportunities to in-need communities and we are proud to continue to do so by offering $16.3 million in Affordable Housing Program funds through our members,” said FHLB Dallas President and CEO Sanjay Bhasin.

Since the AHP’s inception in 1990, FHLB Dallas has awarded more than $300 million in AHP and AHP set-aside programs, such as Homebuyer Equity Leverage Partnership and Special Needs Assistance Program, have assisted more than 53,500 households.

Arvest Bank has utilized the AHP and AHP set-aside programs since 2012, investing more than $3.6 million in its community.

“When we invest in our community, we invest in our future,” said Virgil Miller, group CRA director, group compliance, at Arvest Bank Operations. “The AHP enables so many of our community projects to come to fruition.”

Following is the complete, state-by-state list of the 2019 AHP grant recipients. For more information about the 2019 AHP grants and other FHLB Dallas community investment products and programs, please visit fhlb.com.

Arkansas: $2,065,000 for 231 units

Fort Smith

Member: Arvest Bank

Sponsor: Strategic Community Investments

Grant: $440,000 for 56 Rental units

Harrison

Member: Simmons Bank

Sponsor: Northwest Regional Housing Authority

Grant: $150,000 for 15 Owner units

Houston

Member: First Security Bank

Sponsor: Renewal Ranch

Grant: $250,000 for 22 Rental units

Little Rock

Member: Arvest Bank

Sponsor: World Services for the Blind

Grant: $475,000 for 51 Rental units

Member: IBERIABANK

Sponsor: Central Arkansas Housing Corporation

Grant: $750,000 for 87 Rental units

Louisiana: $5,102,966.50 for 639 units

Alexandria

Member: Red River Bank

Sponsor: The Salvation Army

Grant: $750,000 for 111 Rental units

Bastrop

Member: Home Bank, N.A.

Sponsor: BDT Housing Services Enterprise

Grant: $400,000 for 40 Rental units

Covington

Member: The First, A National Banking Association

Sponsor: West 30’s Redemption Company

Grant: $120,000 for 12 Owner units

Member: Home Bank, N.A.

Sponsor: Habitat for Humanity St. Tammany West

Grant: $80,000 for 8 Owner units

Lafayette

Member: Home Bank, N.A.

Sponsor: Gulf Coast Housing Partnership

Grant: $561,000 for 51 Rental units

New Orleans

Member: Fifth District Savings Bank

Sponsor: New Orleans Mission

Grant: $587,250 for 80 Rental units

Member: Liberty Bank and Trust Company

Sponsor: NewCorp Inc.

Grant: $750,000 for 76 Rental units

Member: Home Bank, N.A.

Sponsor: Leona Tate Foundation for Change

Grant: $250,000 for 25 Rental units

Shreveport

Member: Home Bank, N.A.

Sponsor: Renaissance Neighborhood Development Corporation

Grant: $410,000 for 41 Rental units

Member: Red River Bank

Sponsor: Volunteers of America North Louisiana

Grant: $444,716.50 for 45 Rental units

St. James

Member: United Community Bank

Sponsor: The Church United for Community Development

Grant: $750,000 for 150 Rental units

Mississippi: $4,590,000 for 466 units

Canton

Member: BankPlus

Sponsor: Voice of Calvary Ministries

Grant: $300,000 for 30 Owner units

Member: BankPlus

Sponsor: Canton Housing Authority

Grant: $750,000 for 75 Owner units

Member: BankPlus

Sponsor: Madison Countians Allied Against Poverty

Grant: $85,000 for 10 Owner units

Member: BankPlus

Sponsor: Central Mississippi Housing & Development Corporation

Grant: $750,000 for 80 Rental units

Cleveland

Member: Planters Bank & Trust Co.

Sponsor: City of Cleveland

Grant: $100,000 for 10 Owner units

Hattiesburg

Sponsor: Gulf Coast Housing Partnership

Grant: $400,000 for 40 Rental units

Member: BancorpSouth Bank

Sponsor: Hattiesburg Housing Authority

Grant: $750,000 for 76 Rental units

Jackson

Member: BancorpSouth Bank

Sponsor: Mississippi Housing Partnership

Grant: $315,000 for 30 Rental units

Meridian

Member: BankPlus

Sponsor: Gulf Coast Housing Partnership

Grant: $390,000 for 39 Rental units

New Mexico: $104,000 for 8 units

Ohkay Owingeh

Member: Century Bank

Sponsor: Ohkay Owingeh Housing Authority

Grant: $104,000 for 8 Rental units

Texas: $3,992,000 for 663 units

Fort Worth

Member: Texas Capital Bank, N.A.

Sponsor: Presbyterian Night Shelter Tarrant City

Grant: $750,000 for 280 Rental units

Houston

Member: Allegiance Bank

Sponsor: Fifth Ward Community Redevelopment Corporation

Grant: $750,000 for 85 Rental units

Lufkin

Member: Austin Bank, Texas N.A.

Sponsor: Lufkin Neighborhood Strong

Grant: $300,000 for 30 Owner units

San Antonio

Member: Frost Bank

Sponsor: Adult & Teen Challenge of Texas

Grant: $692,000 for 44 Rental units

Texarkana

Member: Bank OZK

Sponsor: Texarkana Public Facility Corporation

Grant: $750,000 for 130 Rental units

Member: Bank OZK

Sponsor: Texarkana Public Facility Corporation

Grant: $750,000 for 94 Rental units

Out of District: $500,000 for 50 units

Florida

Fort Walton Beach

Member: BancorpSouth Bank

Sponsor: Community Solutions of the Emerald Coast Inc.

Grant: $500,000 for 50 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 $73.8 billion as of September 30, 2019, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to approximately 815 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit our website at fhlb.com.