Bulletin No.: 2009-16
October 2, 2009

TO: STOCKHOLDERS

SUBJECT: Change to AHP Competitive Scoring Round in 2010

Each year, the Federal Home Loan Bank of Dallas (Bank) returns 10 percent of its earnings to the communities served by our member financial institutions through its Affordable Housing Program (AHP). Members gain access to AHP funds through two set-aside programs, HELP and SNAP, as well as through competitive scoring rounds that traditionally have been conducted twice a year. Beginning in 2010 the Bank will consolidate the two competitive scoring rounds into a single round that will close April 15, 2010. Applications for the 2010 round will be available on the Bank’s website beginning February 16, 2010.

The change will provide several benefits for member and sponsor participants in the Bank’s AHP including allowing the Community Investment Department staff more time to spend with members and sponsors in devising solutions to meet critical needs in their communities.  The change will not impact the amount of funds provided through the AHP.

In 2008, the Bank awarded $17.5 million in AHP grants to 69 projects that created or renovated 2,927 housing units across our five-state District. Another $1.25 million was awarded in the form of HELP grants, which assist income-qualified, first-time homebuyers with down payment and closing costs. So far in 2009 the Bank has awarded $8.4 million through its AHP programs.

Please periodically check the Community Investment section of the Bank’s web site at fhlb.com/community investment/ for AHP related updates. Additional information regarding the AHP will be provided during the Bank’s annual community investment workshop series. The dates for the 2010 workshops will be finalized in the near future and announced on the web site and mailers.

If you have questions or concerns, please feel free to contact me or the Community Investment staff at 800.362.2944.

Sincerely,

Greg Hettrick
Director of Community Investment

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