Federal Home Loan Bank of Dallas Releases 2023 Affordable Housing Advisory Council Annual Report

BY Business Wire | AGENCY | 04/29/24 08:23 PM EDT

DALLAS--(BUSINESS WIRE)-- The Federal Home Loan Bank of Dallas (FHLB Dallas), a $125.1 billion cooperatively owned wholesale bank in Irving, Texas, is pleased to announce the release of its highly anticipated 2023 Affordable Housing Advisory Council (AHAC) Annual Report. This comprehensive report highlights FHLB Dallas' commitment to financing the affordable housing and community investment initiatives of member financial institutions in its five-state region.

?We are proud to present our 2023 Affordable Housing Advisory Council Annual Report, which reflects our unwavering dedication to building stronger, more economically vibrant communities,? said Greg Hettrick, senior vice president and director of Community Investment at FHLB Dallas. ?As we continue to confront the challenges of housing affordability, we remain committed to driving positive change through collaborative partnerships.?

Each year, FHLB Dallas returns a percentage of its profit to the communities it serves in the form of Affordable Housing Program (AHP) grants that fund the purchase, construction and/or rehabilitation of owner-occupied, rental or transitional housing and housing for homeless individuals.

In 2023, FHLB Dallas increased these commitments across the board, providing a combined $38.9 million in AHP General Fund and associated AHP homeownership programs.

FHLB Dallas also provided several million dollars through community investment grants and advances (loans) to support veterans? housing, community-based organizations, weather-resistant roofing, resolution of homeownership title issues in lower socio-economic areas and economic and small business lending.

The 2023 AHAC Report showcases FHLB Dallas? ongoing efforts to address critical housing and economic investment needs, while delivering tangible results.

Key highlights of the report include:

  • $28.4 million for the AHP General Fund
  • $6.5 million for the Homebuyer Equity Leverage Partnership (HELP), which provides grants for down payment and/or closing cost assistance for eligible first-time homebuyers
  • $2 million for Disaster Rebuilding Assistance (DRA), which provides grants for homeowner repairs in federally declared disaster areas within the FHLB Dallas District (Arkansas, Louisiana, Mississippi, New Mexico and Texas)
  • $2 million for the Special Needs Assistance Program (SNAP), which funds home repairs and modifications such as wheelchair ramps and wider doors to meet the needs of households containing a resident with special needs
  • $1.5 million through the new FHLB Dallas FORTIFIED Fund that assists income-qualified homeowners in funding storm-resistant roofs
  • More than $900,000 in grants to assist nonprofit, governmental and tribal entities with initiatives that help prevent or address heirs? property issues

The release of the 2023 report underscores FHLB Dallas? commitment to transparency, accountability and financing affordable housing and community investment to create lasting impact and empower individuals and families to build better futures.

To access the full report, please visit the website. Detailed information about FHLB Dallas? community programs can be found at fhlb.com/community-programs.

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 $125.1 billion as of March 31, 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 our website at fhlb.com.

Source: Federal Home Loan Bank of Dallas

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