Source: Federal Home Loan Bank of Dallas / #Affordable #Housing
DALLAS, TX - The Federal Home Loan Bank of Dallas (FHLB Dallas) is pleased to announce that, in partnership with its member financial institutions, it has awarded more than $7.6 million in Affordable Housing Program (AHP) grants to 30 projects, primarily within its five-state District.
FHLB Dallas annually returns 10 percent of its profits in the form of AHP grants to the communities served by its member institutions. AHP funding is utilized for a variety of projects, including home rehabilitation and modifications for low-income, elderly, and special needs residents; down payment and closing cost assistance for qualified first-time homebuyers; and the construction of low-income, multifamily rental communities and single-family homes.
"July 2015 marked the 25th anniversary of the Affordable Housing Program. In partnership with our member institutions, more than 44,000 families have been positively impacted by the program," said President and CEO Sanjay Bhasin. "Assisting our members to continue financing affordable housing activities within their communities remains a cornerstone of our mission."
The 2015 grants will result in the creation or rehabilitation of 1,039 housing units within FHLB Dallas' District of Arkansas, Louisiana, Mississippi, New Mexico, and Texas, as well as one state outside of FHLB Dallas' District in which its members do business.