PATTISON, Miss.--(BUSINESS WIRE)--The Federal Home Loan Bank of Dallas (FHLB Dallas) is pleased to announce that an Affordable Housing Program (AHP) grant has been awarded in U.S. Representative Bennie Thompson’s district that will enable the Mississippi Regional Housing Authority No. VI to rehabilitate a vacant property into a vibrant affordable housing community.
The AHP grant was awarded by FHLB Dallas through its member BankPlus. The grant will help fund a $2.9 million rehabilitation of a 40-unit, vacant affordable housing development known as Pattison Homes I & II, which contain homes with one, two and three bedrooms for low-income residents. The housing authority anticipates completing the rehab in December.
“This grant highlights the power of partnerships and reaffirms our shared commitment to delivering safe and affordable housing solutions for our community,” Representative Thompson, D-MS, said. “I am delighted to see the Pattison Homes I & II project awarded this $850,000 grant. It’s always rewarding when we can make tangible progress in providing safe and affordable housing.”
AHP grants assist FHLB Dallas members in financing the purchase, construction and rehabilitation of owner-occupied, rental or transitional housing and housing for homeless individuals. The funds must be used to benefit households with incomes at or below 80 percent of the area median income.
“The AHP grant will enhance the agency’s ability to provide quality and affordable housing to the residents of Claiborne County. We are indebted to the FHLB of Dallas and our local partner, BankPlus, for making this grant possible,” said Dr. Hickman Johnson, executive director of the Mississippi Regional Housing Authority.
In 2023, FHLB Dallas awarded $28.4 million in AHP grants to 43 affordable housing projects to help create 2,677 new or rehabilitated housing units in its District, which includes Mississippi.
“We are thankful for Congressman Thompson’s support for affordable housing initiatives and believe this grant will make a positive impact on the residents of Pattison, Mississippi,” said Bre Chapman, executive vice president and chief ESG and administrative officer at FHLB Dallas.
This year, $99.4 million has been allocated for AHP and homeownership set-aside grants, which also help first-time homebuyers, special-needs households such as the disabled and homeowners impacted by disasters. Visit fhlb.com/ahp to learn more.
About Congressman Thompson
Congressman Bennie G. Thompson is an elected member of the United States House of Representatives from Mississippi’s Second Congressional District. Congressman Thompson claimed his seat in the House on April 20, 1993. He is a native of Bolton, Mississippi.
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 $126.2 billion as of June 30, 2024, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to approximately 800 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit fhlb.com.
