Federal Home Loan Bank of Dallas Awards $11.3M in Affordable Housing Grants

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DALLAS, Aug. 1, 2013 (GLOBE NEWSWIRE) -- In partnership with its member institutions, the Federal Home Loan Bank of Dallas (FHLB Dallas) is pleased to announce that $11.3 million in Affordable Housing Program (AHP) grants has been awarded to 36 affordable housing projects in 2013.

Each year, FHLB Dallas returns 10 percent of its profits in the form of AHP grants to assist in the development of affordable owner-occupied and rental housing for very low- to moderate-income families throughout FHLB Dallas' five-state District of Arkansas, Louisiana, Mississippi, New Mexico, and Texas. The grants are made available through FHLB Dallas' member institutions and are awarded on an annual basis.

AHP grants may be used to purchase, construct, or rehabilitate single-family, transitional, and multifamily projects for very low- to moderate-income households. This year's AHP grants will assist in the creation of 1,654 new or rehabilitated housing units.

"Functional, affordable housing is the most basic of human needs. The AHP grants being awarded this year will assist in providing new or rehabilitated housing for more than 1,600 individuals," said FHLB Dallas President and CEO Terry Smith. "Through AHP, our members are able to provide sometimes critical housing in their communities, and we're pleased to be able to assist in financing those endeavors."

AHP funding is utilized for a variety of projects, including emergency home rehabilitation for low-income, elderly and disabled residents; down payment and closing cost assistance for qualified first-time homebuyers; and the development and construction of low-income, multifamily apartment communities and single-family subdivisions.

BankPlus, an FHLB Dallas member in Mississippi, has been participating in AHP for more than a decade. In 2013, two AHP grants were awarded through BankPlus totaling $745,000, which will result in 70 new or rehabilitated housing units.

"I'm happy to be working with the Federal Home Loan Bank of Dallas again this year on new projects," said Mark Ouellette, first vice president and director of affordable housing at BankPlus. "For over 10 years, I've had the pleasure of utilizing FHLB Dallas programs on behalf of our communities. FHLB Dallas' vital role in supporting the community cannot be overstated. They offer meaningful products that help us maximize our impact in the areas we serve. FHLB Dallas has proven to be an extraordinary partner as we strive to better our communities."

Below is the complete list of projects by state that received AHP grants in 2013. The list and more information on AHP are available on the Bank's website at fhlb.com/community/ahp/.

Arkansas: $888,128 for 128 housing units
Fort Smith
Member: The FNB of Fort Smith
Sponsor: Old Fort Homeless Coalition
Grant: $500,000 for 69 Rental units
Harrison
Member: Community First Bank
Sponsor: Boone County Special Services
Grant: $48,628 for 10 Rental units
Little Rock
Member: Bank of the Ozarks
Sponsor: Easter Seals Arkansas
Grant: $98,000 for 14 Rental units
Morrilton
Member: Bank of the Ozarks
Sponsor: Universal Housing Development Corporation
Grant: $66,500 for 10 Ownership units
Van Buren
Member: Bank of the Ozarks
Sponsor: Crawford-Sebastian Community Development
Grant: $175,000 for 25 Ownership units
Louisiana: $3,145,129 for 542 units
Baton Rouge
Member: IBERIABANK
Sponsor: Community Development, Inc.
Grant: $500,000 for 208 Rental units
Hammond
Member: First Guaranty Bank
Sponsor: Nebillie Inc
Grant: $500,000 for 79 Rental units
Lafayette
Member: IBERIABANK
Sponsor: Goodwill Industries of Acadiana Housing Corp
Grant: $287,000 for 41 Rental units
Member: MidSouth Bank, N.A.
Sponsor: Lafayette Habitat for Humanity Inc.
Grant: $60,000 for 6 Ownership units
Lake Charles
Member: Jeff Davis Bank & Trust Co.
Sponsor: Lake Charles Non-Profit Housing Development
Grant: $322,000 for 46 Rental units
New Orleans
Member: Fifth District Savings Bank
Sponsor: New Orleans Mission
Grant: $500,000 for 80 Rental units
Shreveport
Member: Red River Bank
Sponsor: Holy Angels Residential Facility
Grant: $385,000 for 44 Rental units
Member: Red River Bank
Sponsor: Holy Angels Residential Facility
Grant: $56,000 for 8 Rental units
Member: Red River Bank
Sponsor: The Carpenter's Helper
Grant: $500,000 for 25 Rental units
Springhill
Member: Carter Federal Credit Union
Sponsor: Fuller Center of Webster, Inc.
Grant: $35,129 for 5 Ownership units
Mississippi: $3,360,500 for 488 units
Batesville
Member: Hope Federal Credit Union
Sponsor: Hope Enterprise Corporation
Grant: $500,000 for 102 Rental units
Biloxi
Member: The Peoples Bank
Sponsor: The Back Bay Mission
Grant: $60,000 for 6 Rental units
Camden
Member: BancorpSouth Bank
Sponsor: Gulf Coast Housing Partnership
Grant: $378,000 for 42 Rental units
Member: BancorpSouth Bank
Sponsor: Sacred Heart Catholic Mission
Grant: $200,000 for 25 Ownership units
Canton
Member: BankPlus
Sponsor: Canton Housing Authority
Grant: $495,000 for 45 Ownership units
Member: Trustmark National Bank
Sponsor: Canton Housing Authority
Grant: $169,500 for 18 Ownership units
Gloster
Member: Hope Federal Credit Union
Sponsor: Home Again, Inc.
Grant: $133,000 for 19 Rental units
Gulfport
Member: The Peoples Bank
Sponsor: South MS Housing & Development Corp
Grant: $500,000 for 80 Rental units
Hattiesburg
Member: The First, A National Banking Association
Sponsor: Volunteers of America National Services
Grant: $175,000 for 50 Ownership units
Member: Hope Federal Credit Union
Sponsor: Gulf Coast Housing Partnership
Grant: $500,000 for 76 Rental units
Jackson
Member: BankPlus
Sponsor: Habitat for Humanity/MetroJackson
Grant: $250,000 for 25 Ownership units
New Mexico: $710,000 for 106 housing units
Albuquerque
Member: The FNB of Santa Fe
Sponsor: Habitat for Humanity of New Mexico
Grant: $210,000 for 30 Ownership units
Carlsbad
Member: International Bank of Commerce
Sponsor: Tierra del Sol Housing Corporation
Grant: $500,000 for 76 Rental units
Texas: $3,215,000 for 390 housing units
Dallas
Member: Frost Bank
Sponsor: LifeNet Community Behavioral Healthcare
Grant: $500,000 for 63 Rental units
Houston
Member: Amegy Bank, N.A.
Sponsor: TEMENOS CDC
Grant: $500,000 for 80 Rental units
Member: Amegy Bank, N.A.
Sponsor: Avenue Community Development Corporation
Grant: $215,000 for 40 Rental units
Kerrville
Member: USAA Federal Savings Bank
Sponsor: Affordable Housing Solutions for Florida
Grant: $500,000 for 49 Rental units
La Porte
Member: The Bank & Trust of Bryan/CS
Sponsor: Methodist Retirement Communities
Grant: $500,000 for 51 Rental units
Plano
Member: LegacyTexas Bank
Sponsor: Green Extreme Homes CDC
Grant: $100,000 for 10 Ownership units
San Antonio
Member: Broadway National Bank
Sponsor: Providence Place
Grant: $400,000 for 40 Rental units
Member: Broadway National Bank
Sponsor: George Gervin Youth Center Inc.
Grant: $500,000 for 57 Rental units

About the Federal Home Loan Bank of Dallas

The Federal Home Loan Bank of Dallas is one of 12 district banks in the FHLBank System created by Congress in 1932. FHLB Dallas, with total assets of $32.7 billion as of June 30, 2013, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to approximately 900 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas. For more information, visit the FHLB Dallas website at fhlb.com.

CONTACT: Corporate Communications Federal Home Loan Bank of Dallas www.fhlb.com (214) 441-8445

Source:Federal Home Loan Bank of Dallas