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Federal Home Loan Bank of Dallas Awards Nearly $17.2 Million for Affordable Housing

Towne Twin Village Awarded $750k in Affordable Housing Subsidies Through Local Sponsor Frost Bank

The Funding Will Create or Rehabilitate More Than 2,000 Housing Units

DALLAS, October 27, 2022–(BUSINESS WIRE)–The Federal Home Loan Bank of Dallas (FHLB Dallas) is pleased to announce that, in partnership with its member financial institutions, it has awarded nearly $17.2 million in Affordable Housing Program (AHP) subsidies to 26 projects, primarily within its five-state District of Arkansas, Louisiana, Mississippi, New Mexico and Texas. The subsidies will result in the creation or rehabilitation of 2,022 housing units.

“Everyone should have access to affordable housing and the AHP is one way we support our members in financing projects in communities with the most critical needs,” said FHLB Dallas President and CEO Sanjay Bhasin.

FHLB Dallas annually returns 10 percent of its profits in the form of AHP subsidies 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.

Between 1990 and 2021, FHLB Dallas awarded more than $344.6 million through AHP and Homeownership Set-Aside Programs, such as a down payment assistance program, a home repair and modification program geared toward seniors and others with disabilities and a disaster recovery program to help nearly 60,000 households.

Home Bank is among 14 FHLB Dallas members through which AHP funds will be awarded. FHLB Dallas awarded nearly $1.25 million through Home Bank to a project that will result in 94 new affordable housing rental units in New Orleans, and Opelousas, Louisiana. Kelvin Luster, senior vice president and community development director at Home Bank, said Home Bank has supported the AHP for more than 30 years.

“The AHP subsidies allow Home Bank to assist our communities in ways we could not have done on our own. We are pleased to be included in this latest round of funding to further our investment across the communities we serve,” he said.

Below is a state-by-state listing of the 2022 AHP subsidies. For more information about the 2022 AHP subsidies and other FHLB Dallas community investment products and programs, please visit fhlb.com/ahp.

San Antonio
Member: Frost Bank
Sponsor: Housing First Community Coalition, Inc.
Subsidy: $750,000 for 76 rental units

https://www.yahoo.com/now/federal-home-loan-bank-dallas-205800014.html?guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAABg5iMF-7tpzrGE1LLeobZje7noVpBIxfmcHbUGheJQrjGC1HGANqxnyL5nDxGRNeJueNznGsGMLS4OPERqq4hE-4OqdWQIZ8jS91h0-ps8USwMsplxEYvl3l4-zPVo3FdjISw0iK3Kym4ZwKanmoFlj_yLZM54lE-ujV41r39-x&guccounter=2

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