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Federal Home Loan Bank of Dallas Awards $78.9 Million for Affordable Housing

BY Business Wire | AGENCY | 10/29/24 05:04 PM EDT

The Funding Will Create or Rehabilitate 3,571 Housing Units

DALLAS--(BUSINESS WIRE)-- The Federal Home Loan Bank of Dallas (FHLB Dallas) is pleased to announce that it has awarded $78.9 million in Affordable Housing Program (AHP) grants to 41 projects in its five-state District of Arkansas, Louisiana, Mississippi, New Mexico and Texas. The grants, part of nearly $100 million in funding for the AHP grants and three homeownership grant programs, will result in the creation or rehabilitation of 3,571 housing units.

?Access to affordable housing continues to be one of our nation?s most pressing needs and a key focus for us,? said FHLB Dallas President and CEO Sanjay Bhasin. ?Providing these grants through our member institutions will result in positive impacts for individuals and families for years to come.?

FHLB Dallas annually returns 10 percent of its profits in the form of AHP grants to the communities served by its member institutions. This year?s grants were awarded through 22 member institutions. Grants up to $2 million were provided this year, up from $850,000 per grant in 2023. They can be used for the construction or rehabilitation of owner-occupied, rental or transitional housing and housing for homeless individuals.

Visit our Community Programs page for more information on our community investment offerings. A complete list of members and organizations that received AHP funding in 2024 is available at fhlb.com. View a video about the awards.

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 $124.9 billion as of September 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.?

Source: Federal Home Loan Bank of Dallas

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