DALLAS, Aug. 9, 2010 (GLOBE NEWSWIRE) -- The Federal Home Loan Bank of Dallas (Bank) is pleased to announce that it has awarded $18.5 million in Affordable Housing Program (AHP) grants, through its member institutions, to 79 affordable housing projects in 2010.
The funding is the most the Bank has awarded in the history of its AHP, which is celebrating its 20th anniversary this year. AHP grants are used to purchase, construct, or rehabilitate single-family, transitional, and multifamily projects for very low- to moderate-income families. Since the inception of the AHP, the Bank has awarded more than $204 million in AHP grants, through the Bank's member institutions, to support affordable housing projects ranging from low-income senior apartments to transitional housing for homeless individuals.
"Since 1990, we have supported our members' efforts to fund affordable housing projects within their communities. Throughout the recent financial crisis, that support has been more critical than ever," said Bank President and CEO Terry Smith. "The $18.5 million in AHP grants the Bank has awarded this year – the largest amount in the grant program's history – shows our members' continued commitment to support affordable housing opportunities and community revitalization within our District."
Each year, the Bank returns 10 percent of its profits in the form of AHP grants made through its member institutions to assist in developing affordable owner-occupied and rental housing for very low- to moderate-income families and individuals throughout the Bank's five-state District of Arkansas, Louisiana, Mississippi, New Mexico, and Texas. Since 1990, the Bank, through its members, has assisted more than 38,000 families with their affordable housing needs.
Some of the projects that received funding in the 2010 funding round include a home rehabilitation initiative for seniors who cannot afford repairs to their homes; a program that provides down payment and closing cost assistance to families with disabilities for their purchase of a first home; and the construction of a low-income apartment complex that will target individuals who are homeless or have special needs.
Seventy-nine projects throughout the Bank's District received grants in the 2010 AHP funding round. The list of projects that received funding is listed below and is also available on the Bank's web site at fhlb.com/community/.
Below is a summary of grant awards by state:
Arkansas: $1,501,629 for 187 units
- Habitat for Humanity of Saline County received $79,643 through Bank of the Ozarks
- Fayetteville Housing Authority received $55,000 through Bank of the Ozarks
- Northwest Regional Housing Authority received $70,000 through Bank of the Ozarks
- Our House, Inc. received $376,986 through Summit Bank
- Community Resources Technicians, Inc. received $180,000 through IBERIABANK, fsb
- Ouachita Senior Community Development LP received $100,000 through Bank of the Ozarks
- Universal Housing Development Corporation received $140,000 through Bank of the Ozarks
- Paragould Housing Authority received $360,000 through First National Bank
- Southwest Arkansas Development Council received $140,000 through Bank of the Ozarks
Louisiana: $2,231,518 for 284 units
- Gulf Coast Housing Partnership received $250,000 through Whitney National Bank
- Habitat for Humanity of Greater Baton Rouge received $200,000 through Whitney National Bank
- Urban Restoration Enhancement Corporation received $325,804 through Whitney National Bank
- Family Resources of New Orleans received $50,000 through Whitney National Bank
- Bayou Area Habitat for Humanity received $63,000 through Whitney National Bank
- START Corporation received $250,000 through Coastal Commerce Bank
- Habitat for Humanity: Calcasieu Area, Inc. received $70,000 through First Federal Bank of Louisiana
- Neighborhood Housing Services of New Orleans, Inc. received $120,000 through IBERIABANK
- Tunica-Biloxi Housing Authority received $40,000 through IBERIABANK
- Rays of Sonshine received $120,000 through Community Trust Bank
- Community Directions, Inc. received $115,964 through IBERIABANK
- Diocese of Lafayette received $79,750 through Community First Bank
- Southern Mutual Financial Services, Inc. received $105,000 through IBERIABANK
- Southern Mutual Help Association Inc. received $42,000 through IBERIABANK
- Holy Angels Residential Facility received $400,000 through Community Trust Bank
Mississippi: $6,232,704 for 851 units
- Flagship United Community Development Corporation received $500,000 through Whitney National Bank
- Sacred Heart Catholic Mission received $175,000 through BancorpSouth Bank
- Voice of Calvary Ministries Inc. received $300,000 through BankPlus
- Greater Greenville Housing – Revitalization received $112,000 through Planters Bank and Trust Co.
- Southern States Housing Group received $500,000 through Trustmark National Bank
- International Relief and Development US received $276,704 through Whitney National Bank
- Pine Belt Mental Healthcare Resources received $168,000 through BancorpSouth Bank
- The University of Southern Mississippi IDS received $220,000 through BancorpSouth Bank
- The University of Southern Mississippi IDS received $330,000 through BankPlus
- The Wishcamper Companies, Inc. received $500,000 through Trustmark National Bank
- R3SM received $500,000 through BancorpSouth Bank
- Cade Development Corp. received $500,000 through Trustmark National Bank
- West Jackson Community Development Corp. received $84,000 through Trustmark National Bank
- Voice of Calvary Ministries Inc. received $280,000 through BancorpSouth Bank
- South Central Community Action Agency received $500,000 through BankPlus
- North Midtown Community Development Corp. received $50,000 through BankPlus
- McComb Housing Authority received two grants of $182,000 each, for a total of $364,000, through Trustmark National Bank
- Savannah Pines, LLC received $500,000 through The First, A National Banking Association
- Neighborhood Development Corporation received $175,000 through BancorpSouth Bank
- City of Vicksburg received $198,000 through BancorpSouth Bank
New Mexico: $2,870,000 for 382 units
- NewLife Homes, Inc.received three grants of $500,000, $210,000, and $210,000, for a total of $920,000through Bank of Albuquerque, NA
- The Supportive Housing Coalition of New Mexico received two grants of $315,000 and $120,000, totaling $435,000, through Los Alamos National Bank
- Habitat for Humanity of New Mexico received $320,000 through Bank of Albuquerque, NA
- Tierra del Sol Housing Corporation received $146,000 through Pioneer Bank
- The Supportive Housing Coalition of New Mexico received $480,000 through Citizens Bank of Las Cruces
- Mesilla Valley Habitat for Humanity received $45,000 through Pioneer Bank
- NMHCDC received two grants of $384,000 and $140,000, totaling $524,000, through Citizens Bank of Las Cruces
Texas: $5,500,259 for 912 units
- Green Doors received $500,000 through Wells Fargo Bank South Central
- Operation Relief CDC received $100,000 through Bank of Texas, N.A.
- Val Verde Housing Corporation received $500,000 through The Bank & Trust, SSB
- The Paces Foundation, Inc. received $500,000 through Community National Bank
- Bay Area Habitat for Humanity received $70,000 through Amegy Bank
- Rescue Mission of El Paso, Inc. received $420,000 through United Bank El Paso del Norte
- El Paso Collaborative for Community & Economic Development received $105,000 through United Bank El Paso del Norte
- Oak Timbers received $500,000 through Bank of Texas, N.A.
- Habitat For Humanity of Greater Garland received $14,000 through Professional Bank, N.A.
- United Cerebral Palsy of Greater Houston received $73,000 through Amegy Bank
- Acres Homes Garden, Inc. received $44,000 through Amegy Bank
- Houston Habitat for Humanity received $149,227 through Allegiance Bank Texas
- Row House CDC received $191,588 through Amegy Bank
- PWA Coalition of Dallas, Inc. received $500,000 through Sterling Bank
- Spectrum Housing Corporation received $350,000 through Commercial Bank of Texas, NA
- The Bridge Over Troubled Waters, Inc. received $500,000 through Capital Bank
- St. Peter-St. Joseph Children's Home received $176,445 through Jefferson State Bank
- Methodist Mission Home received $152,000 through Broadway National Bank
- Habitat for Humanity of Smith County received $110,000 through First Federal Bank Texas
- Waco Habitat For Humanity received $45,000 through Extraco Banks, NA
- PWA Coalition of Dallas, Inc received $500,000 through Sterling Bank
Out of District: $178,000 for 16 units
Alabama
- Greater Birmingham Habitat for Humanity received $98,000 through BancorpSouth Bank
Missouri
- Habitat for Humanity, Springfield, Missouri, received $80,000 through BancorpSouth Bank
About the Federal Home Loan Bank of Dallas
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 $57.1 billion as of June 30, 2010, 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 FHLB Dallas web site at fhlb.com.
The Federal Home Loan Bank of Dallas logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3013