Federal Home Loan Bank Invests $1 Million for Tribal Housing
Federal Home Loan Bank Makes Significant Contribution to Tribal Housing
The Federal Home Loan Bank of Dallas (FHLB Dallas) has taken a commendable step by allocating $1 million to support the housing needs of tribal communities across the nation. This funding initiative is aimed at enhancing affordable housing opportunities through the establishment of the Native American Housing Opportunities (NAHO) Fund. With this innovative approach, FHLB Dallas emphasizes its dedication to improving living conditions for those in federally recognized tribes.
Understanding the NAHO Fund
Launched in 2024, the NAHO Fund is designed to provide financial assistance ranging from $50,000 to $150,000 for various housing projects initiated by tribally designated housing entities (TDHEs). These funds are crucial in addressing significant housing challenges that Native American communities face, including the provision of down payment assistance, closing costs, and funds for new construction and essential repairs.
Benefits of the Funding
The grants from the NAHO Fund are versatile, allowing for various uses such as administrative costs, operational expenses, and even the development of new programs designed to meet the unique housing needs of tribal members. This holistic approach ensures that support is provided not just for physical housing but also for the sustainability of housing programs.
Quote from Leadership
In the words of Greg Hettrick, senior vice president and director of Community Investment at FHLB Dallas, "This fund reflects our understanding of the unique housing challenges faced by Native American communities. Through the NAHO Fund, we are proud to partner with our members and tribal housing organizations to foster long-term improvements and expansion of tribal housing." This statement showcases the bank's commitment to collaboration and community support.
2024 Grant Recipients
The allocation of funds has been made to several recipients from different regions:
Louisiana
Charenton
Member: First National Bank Jeanerette
Sponsor: Chitimacha Tribe of Louisiana
Grant: $150,000
- Funds will be utilized for roof repairs and preventive maintenance through the Chitimacha Tribal Elderly Housing Emergency Assistance Program.
Mississippi
Choctaw
Member: The Citizens Bank
Sponsor: Mississippi Band of Choctaw Indians
Grant: $150,000
- Support for 10 home rehabilitation projects along with 20 delinquent-household assistance programs and 12 homebuyer education classes.
New Mexico
Espanola
Member: Del Norte Credit Union
Sponsor: Santa Clara Pueblo Housing Authority
Grant: $150,000
- The funds will aid in conducting a housing-needs assessment to address the specific requirements of the Santa Clara Pueblo community.
Jemez Pueblo
Member: Wells Fargo
Sponsor: Pueblo of Jemez Housing Authority
Grant: $138,895
- Hiring a consultant to carry out a preliminary cost analysis and financial structuring for an affordable housing project that includes both homeownership and rental options.
Santa Fe
Member: Southwest Capital Bank
Sponsor: San Ildefonso Housing Authority
Grant: $118,305
- Implementation of accounting software to enhance financial management capabilities and hiring of a construction manager for a housing project providing 27 units for tribal members.
San Felipe Pueblo
Member: Southwest Capital Bank
Sponsor: San Felipe Pueblo Housing Authority
Grant: $142,800
- Funding will be directed toward creating a website for tribal members to facilitate affordable housing applications and information access.
Texas
Livingston
Member: Austin Bank
Sponsor: Alabama-Coushatta Indian Housing Authority
Grant: $150,000
- Enhancements including installation of AC units in 18 homes, generator switches in 65 homes, internet connectivity in 20 homes, and rental/utility assistance for 26 families.
Conclusion
The $1 million awarded through the NAHO Fund marks a significant investment in the well-being of tribal communities. By supporting housing projects and initiatives, FHLB Dallas plays a vital role in improving the quality of life and the overall development of tribal members. As these initiatives unfold, they promise to create lasting benefits for the communities involved, affirming the commitment of FHLB Dallas towards ensuring accessible and sustainable housing solutions.
Frequently Asked Questions
What is the Native American Housing Opportunities Fund?
The NAHO Fund provides grants ranging from $50,000 to $150,000 to support housing projects initiated by tribally designated housing entities aimed at improving tribal housing conditions.
How does FHLB Dallas support tribal communities?
FHLB Dallas allocates funding for various housing initiatives, including down payment assistance, operational costs, and new construction, helping meet the unique housing needs of tribal members.
What types of projects are funded through the NAHO Fund?
The fund supports a wide range of projects from home rehabilitation and construction to program development and administrative expenses for housing organizations.
Who are the recipients of the 2024 awards?
Recipients include various tribal organizations across Louisiana, Mississippi, New Mexico, and Texas, each receiving specific grants to address their housing challenges.
What is the expected impact of this funding?
This funding is designed to enhance living conditions, increase access to housing, and provide educational resources on homebuying and rehabilitation in tribal communities.
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