DALLAS, Feb. 29, 2012 (GLOBE NEWSWIRE) -- The Federal Home Loan Bank of Dallas (Bank) is pleased to announce that $7.5 million in Affordable Housing Program (AHP) grants are available in 2012.
The Bank's AHP is a competitive grant program that operates through the Bank's member financial institutions. It is designed to assist member institutions in funding the development of affordable owner-occupied and rental housing for very low- to moderate-income families and individuals in the communities served by the Bank's members. The AHP grants are a resource to help the Bank's members meet the affordable housing needs in their communities.
Since 1990, the Bank has committed more than $213 million in AHP grants, through its members, to assist nearly 40,000 families in obtaining an affordable place to live.
"The Bank is pleased to offer another $7.5 million in AHP grant funding to assist our members in meeting the affordable housing needs in their communities," said Bank President and CEO Terry Smith.
AHP grant applications for the 2012 funding cycle will be accepted through the close of business on April 2, 2012. Applicants may apply for up to $500,000 in AHP funds per project. Applications are available though the Bank's AHP Online Application in the AHP section of the Bank's website at fhlb.com/community/ahp/.
All eligible member institutions within the Bank's five-state district may access these funds for their own programs or for programs initiated in conjunction with nonprofit organizations, state or local governments, or for-profit developers, subject to the terms and conditions of the AHP. A list of the Bank's members is available on its website at fhlb.com/member/.
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. FHLB Dallas, with total assets of $33.8 billion as of December 31, 2011, 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 website at fhlb.com.
The Federal Home Loan Bank of Dallas logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3013