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Bulletin No.: 2013-01
January, 28, 2013

TO: STOCKHOLDERS

SUBJECT: Community Investment Offerings

The Federal Home Loan Bank of Dallas (Bank) is pleased to announce its 2013 Community Investment offerings.

Community Investment Program (CIP)

The CIP provides favorably priced advances to assist members in financing single-family and multifamily housing. Funds are available year-round and can be used for the purchase or rehabilitation of single and multifamily housing for income-qualified families.

Economic Development Program (EDP)

The EDP offers favorably priced advances to assist member institutions with financing economic development or revitalization projects in targeted communities. These projects lead to job creation or job retention for low- and moderate-income wage earners or provide services to low- and moderate-income families and communities. EDP advances are often used to finance purchases, as well as renovation, capital improvement, and historic preservation projects. EDP is non-competitive and funds are available year-round. All member institutions eligible to obtain standard advances from the Bank may apply for EDP advances.

Economic Development Program Plus (EDPPlus)

If a member institution is approved for an EDP advance, the member’s customer may then be eligible for an accompanying EDPPlus grant up to $25,000. Grant funds typically are used to finance start-up or expansion activities. The Bank has made available $1 million in funding for the EDPPlus grant program in 2013. The Bank began accepting applications for EDPPlus grants on January 2, 2013, and will continue accepting applications on a first-come, first-served basis until all funds are awarded, or December 31, 2013.

Disaster Relief Program (DRP)

The DRP is designed to finance any project that assists in the recovery efforts of federally declared disaster areas within the Bank’s five-state District. The DRP provides advances that are priced below the Bank’s favorably priced CIP advance rates. These rates are available for a specified period that would be designated by the Bank following a federally declared disaster.

Affordable Housing Program (AHP)

AHP is the Bank’s primary housing grant program. In 2012, the Bank awarded $8.3 million in grants to 31 projects that will create or rehabilitate 1,248 housing units, located primarily within the Bank’s five-state District. AHP funds are used to purchase, construct, or rehabilitate single-family, supportive housing, and multifamily projects that serve income-qualified households. AHP grants are awarded once a year through the Bank’s member institutions.

The level of funds for the 2013 AHP will be announced late in the first quarter. However, the Bank will accept AHP grant applications from February 15 through April 1, 2013. All applications for AHP grants must be submitted through the Bank’s online system, which will be available during that period. Please check the Bank’s website at fhlb.com for additional details and program announcements. Detailed information about the AHP is available in the Bank’s Implementation Plan, which can be found in the Community Investment section of the Bank’s website.

Homebuyer Equity Leverage Partnership (HELP)

HELP provides grants that can be used for down payment and/or closing cost assistance for eligible first-time homebuyers. Members interested in participating in HELP must submit a one-time enrollment application and agreement and thereafter will be eligible to request HELP funds during each annual offering. Members that have previously enrolled for HELP need not enroll again. For 2013, the Bank has set aside $1 million of its annual AHP funds for HELP grants. Members were able to request HELP funds beginning January 2.

Special Needs Assistance Program (SNAP)

SNAP provides grants that can be used for housing rehabilitation to meet the needs of homeowners with special needs. Members interested in participating in SNAP must submit a one-time enrollment application and agreement and thereafter will be eligible to request SNAP funds during each annual offering. Please refer to the Bank’s Implementation Plan for more detailed information on SNAP. For 2013, the Bank has set aside $1 million of its annual AHP funds for SNAP grants. Members were able to request SNAP funds beginning January 2.

Housing Assistance for Veterans (HAVEN)

HAVEN is a unique housing program designed to provide grants to households of veterans or active service members who were injured, and therefore disabled, as a result of their active military service since the tragic events of September 11, 2001. The program is designed to support necessary home modifications. The Bank will grant up to $5,000 toward the modification of a qualifying home. If the Bank's member institution or another lender contributes at least $350 toward financial or other concessions in connection with the home modification, the Bank will grant up to $7,500 toward the modification.

Partnership Grant Program (PGP)

PGP provides funding for the operational needs of community-based organizations (CBOs) - nonprofit organizations involved in affordable housing, local community development funds, and small business technical assistance providers within the District. The program is offered through member institutions to eligible CBOs. The Bank has allocated $225,000 in PGP funds for 2013. Applications for partnership grants will be available beginning July 1, 2013 and will be accepted from August 5 through August 9, 2013. More information about the PGP process will be available on the Bank’s website in the second quarter.

Detailed information on each of these programs, including application or enrollment forms, guidelines, and other information can be found under the Community Investment section of the Bank’s website at fhlb.com/community/. Please check the website periodically for program announcements. For questions regarding AHP, HELP, SNAP, HAVEN or PGP grants, please contact the Community Investment Department at 800.362.2944. For questions regarding CIP, EDP, EDPPlus, or DRP, please contact your Member Sales Officer at 800.442.9841.

I hope you will utilize our housing and economic development programs in 2013.

Sincerely,

Terry Smith
President and Chief Executive Officer

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