FOR IMMEDIATE RELEASE

Contact:

Corporate Communications
Federal Home Loan Bank of Dallas
www.fhlb.com
(214) 441-8445

FHLBank of Dallas Awards $9.1 Million in Affordable Housing Grants

DALLAS, TEXAS, May 19, 2008– The Federal Home Loan Bank of Dallas (Bank) announced that it has awarded $9.1 million in Affordable Housing Program (AHP) grants to 30 projects located in Arkansas, Louisiana, Mississippi, Tennessee, and Texas. These AHP grants will help create or renovate 1,743 housing units.

AHP grants 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: $209,500 for 35 units

• Louisiana: $2,354,000 for 318 units

• Mississippi: $277,500 for 30 units 

• Tennessee: $6,969 for 1 unit

• Texas: $6,265,908 for 1,359 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 2007, the Bank awarded a total of $18 million in grants to 99 projects that created or renovated 2,298 housing units. The Bank has awarded more than $164 million in AHP grants since the program began in 1990. Information about the program is available in the Community Investment section of the Bank’s web site at fhlb.com.

The Federal Home Loan Bank of Dallas is one of 12 district banks in the FHLBank System created by Congress in 1932.  The Dallas Bank, with total assets of $68.7 billion as of March 31, 2008, 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 web site at fhlb.com.

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