News from the United States Congress:

FOR IMMEDIATE RELEASE

Contact:
I. Lanier Avant
(202) 225-5876
or
Larry Marshall
larry.marshall@fhlb.com
www.fhlb.com
(214) 441-8442

CONGRESSMAN THOMPSON ANNOUNCES $393,000 IN AFFORDABLE HOUSING GRANTS

WASHINGTON, D.C. - Today, United States Representative Bennie G. Thompson (D-MS) announced the awarding of $393,000 in affordable housing grants to projects in four eastern Mississippi communities by the Federal Home Loan Bank of Dallas. The funds will enable 59 very low- to moderate-income families to obtain quality affordable housing.

"The grants will provide housing assistance to families in the Second District. Affordable housing continues to elude many hard-working Americans. Significant investments like that of the Federal Home Loan Bank of Dallas will go a long way toward moving families into homes," explained Congressman Thompson.

The grant funds will help bridge the "gap" between the limited financial resources of low-income families and market rental rates or traditional long-term financing options.

Grant recipients include:

Jackson Metro Housing Partnership, which received $144,000 through BankPlus, Belzoni, for down payment assistance for 36 low- and moderate-income homeuyers in the Jackson area.

Mississippi Housing Development Corp. for its Great River Apartment Homes project in Fayette, which received $145,100 through United Mississippi Bank, Natchez, for construction of 14 rental homes for purchase by very-low and low-income families.

Voice of Calvary Ministries for its Homeless-to Homeowner project in Jackson, which received $74,100 through BancorpSouth, Tupelo, for rehabilitation of homes for purchase by graduates of a local substance abuse program.

Warren County Habitat for Humanity, which received $30,000 through BancorpSouth, Tupelo, for construction of three homes in Vicksburg for Purchase by very low-income homebuyers.

The grants come from the FHLBank of Dallas, which each year invests 10% of its earnings through Affordable Housing Program (AHP) grants. AHP grants are awarded twice a year, and may be used for a variety of purposes including down payment and closing cost assistance, construction, and rehabilitation of housing for income-qualified families. The FHLBank of Dallas is one of 12 district banks in the FHLBank System created by Congress in 1932. The Bank, with assets of $58 billion, is a member-owned cooperative that supports housing and communtiy development through low-cost funding and other credit products provided to ore than 875 member institutions in Arkansas, Louisiana, Mississippi, Neew Mexico, and Texas.

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