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The grants are part of the bank’s pledge to invest 10% of its profits in the development of affordable owner-occupied and rental housing for very low- to moderate-income families.
The 2013 AHP grant funding will enable members and their local affordable housing partners to help provide housing for more than 1,600 individuals, said FHLB Dallas president and CEO Terry Smith, offering emergency home rehabilitation for low-income, elderly and disabled residents; downpayment and closing cost assistance for qualified first-time homebuyers; and multifamily apartment development.
A $3.2 million grant will be used for 390 housing units across Texas with member banks Frost Bank in Dallas, Amegy Bank NA in Houston, USAA Federal Savings Bank in Kerrville, The Bank & Trust of Bryan/CS in La Porte, LegacyTexas Bank in Plano and Broadway National Bank in San Antonio.
Three states received grants of over $3 million. Louisiana received $3.1 million for 542 units in New Orleans, Baton Rouge, Hammond, Lafayette, Lake Charles, Shreveport and Springhill and in Mississippi $3.4 million for 488 units in Batesville, Biloxi, Camden, Canton, Hattiesburg and Jackson.
During an over 10-year partnership, said BankPlus first vice president and director of affordable housing, Mark Ouellette, the FHLB of Dallas has offered “meaningful products” that helped “maximize our impact in the areas we serve.” So far this year as an FHLB of Dallas member in Mississippi BankPlus has received two AHP grants totaling $745,000, which are being used to rehabilitate and construct 70 new housing units.
A total of $888,128 was granted to various projects in Arkansas in Fort Smith, Harrison, Little Rock, Morrilton and Van Buren to develop 128 housing units. New Mexico communities received $710,000 for 106 housing units in Albuquerque and Carlsbad through the FNB of Santa Fe and International Bank of Commerce.
