DALLAS, July 18, 2007 (PRIME NEWSWIRE) -- Congressman Rodney Alexander (LA-5) announced the awarding of $430,000 in affordable housing grants by the Federal Home Loan Bank of Dallas provided through their member financial institutions.
"For the individuals and families assisted by this program, homes mean more than shelter and security -- they mean hope," Alexander said. "I am so thankful to the Federal Home Loan Bank of Dallas and their member institutions for their commitment to Louisiana's 5th District, and I know their efforts are going to have a major impact in the lives of so many who are in need."
The grant recipients are:
* Macon Ridge Community Development Council will receive $80,000 towards the development of 10 affordable single family homes within its eight parish service area, which includes the Concordia, Catahoula, West Carroll, East Carroll, Franklin, Madison, Tensas and Richland Parishes in northeast Louisiana, with funds made available through Delta Bank. * Rapides Station Community Ministries will receive $350,000 towards the rehabilitation of 35 existing homes in Rapides Parish for low- and very-low income families, focusing on individuals with special needs including the elderly, disabled, handicapped and single parents who are victims of domestic violence. The funds have been made available through Red River Bank.
The Federal Home Loan Bank of Dallas returns 10 percent of its profits each year to the communities served by member institutions in the form of Affordable Housing Program grants.
The Federal Home Loan Bank of Dallas is one of 12 district banks in the FHLBank System created by Congress in 1932. The Bank, with total assets of $53.3 billion as of March 31, 2007, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to more than 900 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit the Bank's website at www.fhlb.com.
The Federal Home Loan Bank of Dallas logo is available at http://www.primezone.com/newsroom/prs/?pkgid=3013