DALLAS, July 1, 2009 (GLOBE NEWSWIRE) -- The Federal Home Loan Bank of Dallas (Bank) is pleased to announce that it has awarded $5.4 million in Affordable Housing Program (AHP) grants to 25 projects located in Arkansas, Louisiana, Mississippi, New Mexico, and Texas. These AHP grants will help create or renovate 744 housing units.
AHP grants are used to purchase, construct or rehabilitate single-family, transitional and multi-family projects for very low- to moderate-income families.
Summary by State:
Arkansas: $661,976 for 99 units
-- Black Community Developers, Inc. received $311,976 through Bank
of the Ozarks
-- Rebuilding Together of Northwest Arkansas received $350,000
through Metropolitan National Bank
Louisiana: $2,011,469 for 291 units
-- Fuller Center of Webster received $68,469 through Citizens Bank &
Trust Co.
-- Gulf Coast Housing Partnership received $790,000 in two AHP
grants:
* GCHP Canal received $500,000 through First NBC Bank
* GCHP Esplanade received $290,000 through First NBC Bank
-- Habitat for Humanity Calcasieu received $40,000 through First
Federal Bank of Louisiana
-- City of Hammond received $150,000 through Whitney National Bank
-- ASSIST Agency received $63,000 through IBERIABANK
-- Ruston Housing Authority received $210,000 through Community
Trust Bank
-- Urban Housing of America, Inc. received $300,000 through Ouachita
Independent Bank
-- Volunteers of America of North Louisiana received $390,000
through BancorpSouth Bank
Mississippi: $1,288,000 for 136 units
-- City of Vicksburg received $198,000 through RiverHills Bank
-- Habitat for Humanity Jackson received $350,000 through
BancorpSouth Bank
-- Mid-South Community Development Corporation received $80,000
through BankPlus
-- Mountain of Faith Ministries received $500,000 through Trustmark
National Bank
-- The Neptune Group received $80,000 through Trustmark National
Bank
-- Sacred Heart Catholic Mission received $80,000 through
BancorpSouth Bank
New Mexico: $280,000 for 40 units
-- Tohatchi Area Opportunity Services, Inc. received $280,000
through First Community Bank
Texas: $1,189,500 for 178 units
-- Center for Housing Resources received $500,000 through
Guaranty Bank
-- Community Development Corporation of Brownsville received
$385,000 in three AHP grants:
* Campo Real Subdivision received $140,000 through Frost
National Bank
* Inwood II Subdivision received $175,000 through
International Bank of Commerce
* Colonia Initiative received $70,000 through Lone Star
National Bank
-- Easter Seals of North Texas received $42,000 through
Southwest Bank
-- Enterprise Community Partners, Inc. received $162,500
through Inwood National Bank
-- US Community Development Corporation received $100,000
through Guaranty Bank
By statute, the Bank returns 10 percent of its profits each year to the communities served by member institutions in the form of AHP grants. In 2008, the Bank awarded a total of $17.5 million in grants to 69 projects that created or renovated 2,913 housing units. The Bank has awarded more than $171 million in AHP grants since the program began in 1990. Information about the program is available in the Community Investment section of the Bank's web site at fhlb.com.
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 $68.7 billion as of March 31, 2009, 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.
The Federal Home Loan Bank of Dallas logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3013