DALLAS, Jan. 10, 2007 (PRIME NEWSWIRE) -- The Federal Home Loan Bank of Dallas (Bank) recently announced the awarding of $9.2 million in Affordable Housing Program (AHP) grants to 65 projects located in Arkansas, Louisiana, Mississippi, New Mexico and Texas. The grants awarded will help create or renovate 2,015 housing units.
Funds 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: $1,159,508 for 368 units * Louisiana: $2,253,867 for 306 units * Mississippi: $725,000 for 107 units * New Mexico: $280,000 for 35 units * Texas: $4,819,230 for 1,199 units
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 2006, the Bank awarded $17.5 million in grants to 123 projects that created or renovated 3,523 housing units and has awarded more than $161 million in grants since the program began in 1990. Information about the program is available in the Community Investment section of the Bank's website at www.fhlb.com/community/ahp/.
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 $58.2 billion as of September 30, 2006, 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