Grants Will Result in the Creation or Rehabilitation of 2,057 Housing Units
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 $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.
Contacts
Corporate Communications
Federal Home Loan Bank of Dallas
fhlb.com
(214) 441-8445
