DALLAS--(BUSINESS WIRE)--The Federal Home Loan Bank of Dallas (FHLB Dallas) is pleased to announce that, in partnership with its member financial institutions, it has awarded $19.3 million in Affordable Housing Program (AHP) subsidies to 38 projects in Arkansas, Louisiana, Mississippi, New Mexico and Texas. The subsidies will result in the creation or rehabilitation of 2,749 housing units.
“The funding announced today will go a long way toward meeting the housing needs across the District. We are grateful for our participating member institutions that have made affordable housing a priority,” said FHLB Dallas President and CEO Sanjay Bhasin.
FHLB Dallas annually returns 10 percent of its profits in the form of AHP subsidies 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.
Since the AHP’s inception in 1990, FHLB Dallas has awarded more than $324 million through AHP and AHP set-aside programs, such as the Homebuyer Equity Leverage Partnership, the Special Needs Assistance Program and Disaster Rebuilding Assistance to help more than 56,500 households.
Lara Conway, First National Bank consumer loan officer, is pleased that FHLB Dallas offers a program like AHP to help individuals and families who need it most.
“Our partnership with Federal Home Loan Bank of Dallas is extremely valuable to us,” Mrs. Conway said. “Through the AHP subsidy, the Mescalero Apache Tribe Housing Department will be able to better serve our Mescalero community, and at a time when people are cutting back, receiving these funds makes all the difference.”
Below is a state-by-state listing of the 2020 AHP subsidies. For more information about the 2020 AHP subsidies and other FHLB Dallas community investment products and programs, please visit fhlb.com/ahp.
Arkansas: $645,000 for 63 units
Marvell
Member: Southern Bancorp Bank
Sponsor: Boys, Girls, Adult Community Development Center
Subsidy: $170,000 for 17 Rental units
Mountain Home
Member: First Security Bank
Sponsor: Promenade Apartments, an Arkansas LP
Subsidy: $475,000 for 46 Rental units
Louisiana: $4,575,000 for 764 units
Abita Springs/Covington
Member: Home Bank, N.A.
Sponsor: Habitat for Humanity St. Tammany West
Subsidy: $120,000 for 12 Owner units
Alexandria
Member: Red River Bank
Sponsor: GAEDA Revitalization Corp.
Subsidy: $495,000 for 50 Owner units
Baton Rouge
Member: Home Bank, N.A.
Sponsor: Partners-for-Progress Inc.
Subsidy: $750,000 for 99 Rental units
Member: Red River Bank
Sponsor: Gulf Coast Housing Partnership
Subsidy: $750,000 for 116 Owner units
Houma
Member: Home Bank, N.A.
Sponsor: Iris Development
Subsidy: $750,000 for 122 Rental units
Lake Charles
Member: Home Federal Bank
Sponsor: Lake Charles Non-Profit Housing Development
Subsidy: $750,000 for 233 Rental units
Lockport
Member: Home Bank, N.A.
Sponsor: Gulf Coast Housing Partnership
Subsidy: $280,000 for 35 Rental units
New Orleans
Member: Home Bank, N.A.
Sponsor: Iris Development
Subsidy: $680,000 for 97 Rental units
Mississippi: $2,271,560 for 231 units
Laurel
Member: Hope Federal Credit Union
Sponsor: LHA Enterprise Development Inc.
Subsidy: $750,000 for 78 Rental units
Lexington
Member: BankPlus
Sponsor: Community Students Learning Center
Subsidy: $596,160 for 60 Owner units
Natchez
Member: Concordia Bank & Trust
Sponsor: City of Natchez
Subsidy: $97,700 for 10 Owner units
Member: Home Bank, N.A.
Sponsor: City of Natchez
Subsidy: $97,700 for 10 Owner units
Waveland
Member: The First, A National Banking Association
Sponsor: Hancock Resource Center
Subsidy: $400,000 for 40 Owner units
Yazoo City
Member: Bank of Yazoo City
Sponsor: Gateway Community Development Corp.
Subsidy: $330,000 for 33 Owner units
New Mexico: $1,820,000 for 216 units
Grants
Member: Wells Fargo Bank South Central
Sponsor: CC Housing Inc.
Subsidy: $750,000 for 128 Rental units
Mescalero
Member: First National Bank
Sponsor: Mescalero Apache Tribe Housing Department
Subsidy: $600,000 for 40 Rental units
Village of Los Lunas
Member: Wells Fargo Bank South Central
Sponsor: CC Housing Inc.
Subsidy: $470,000 for 48 Rental units
Texas: $10,176,146 for 1,475 units
Alvin
Member: Frost Bank
Sponsor: Adult & Teen Challenge of Texas
Subsidy: $700,000 for 40 Rental units
Austin
Member: Frost Bank
Sponsor: Mobile Loaves & Fishes Inc.
Subsidy: $750,000 for 76 Rental units
Member: Wells Fargo Bank South Central
Sponsor: Foundation Communities Inc.
Subsidy: $750,000 for 110 Rental units
Member: Wells Fargo Bank South Central
Sponsor: Foundation Communities Inc.
Subsidy: $750,000 for 137 Rental units
Brownsville
Member: Rio Grande Valley Multibank
Sponsor: Community Development Corporation of Brownsville
Subsidy: $600,000 for 40 Rental units
Dallas
Member: Frost Bank
Sponsor: Autism Treatment Center Inc.
Subsidy: $149,646 for 50 Rental units
Member: Inwood National Bank
Sponsor: AIDS Services of Dallas
Subsidy: $160,000 for 16 Rental units
Member: Veritex Community Bank
Sponsor: Resource Center of Dallas
Subsidy: $750,000 for 84 Rental units
Houston
Member: Texas Capital Bank, N.A.
Sponsor: Harmony House Inc.
Subsidy: $750,000 for 128 Rental units
Member: Wells Fargo Bank South Central
Sponsor: New Hope Housing Inc.
Subsidy: $750,000 for 100 Rental units
Killeen
Member: Home Federal Bank
Sponsor: Killeen Housing Authority
Subsidy: $700,000 for 70 Rental units
Lampasas
Member: Extraco Banks, N.A.
Sponsor: Fort Hood Area Habitat for Humanity
Subsidy: $200,000 for 20 Owner units
McKinney
Member: Independent Bank
Sponsor: St. James CME Church
Subsidy: $80,000 for 8 Rental units
Mount Pleasant
Member: Frost Bank
Sponsor: Mt. Pleasant Public Facility Corp.
Subsidy: $300,000 for 76 Rental units
Richmond
Member: CommunityBank of Texas, N.A.
Sponsor: Fort Bend County Women’s Center
Subsidy: $236,500 for 22 Rental units
San Antonio
Member: Wells Fargo Bank South Central
Sponsor: Housing and Community Services Inc.
Subsidy: $750,000 for 234 Rental units
San Benito
Member: Home Federal Bank
Sponsor: San Benito Housing Authority
Subsidy: $750,000 for 84 Rental units
Tyler
Member: Southside Bank
Sponsor: Habitat for Humanity of Smith County
Subsidy: $300,000 for 30 Owner units
Victoria
Member: Texas Capital Bank, N.A.
Sponsor: Housing and Community Services Inc.
Subsidy: $750,000 for 150 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 $66.3 billion as of September 30, 2020, 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 our website at fhlb.com.
