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