FHLB Dallas FORTIFIED Fund Rental Program

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FORTIFIED Rental funds are awarded once a year through a competitive application process. FHLB Dallas member institutions partner with a PHA during the application process. Each has a role in the process:

1. Application Process – The PHA completes the application for funding during the annual application period. The member reviews the application and submits the application, along with supporting documentation, on the PHA’s behalf
2. Approval – FHLB Dallas scores the applications and recommends projects to receive a funding commitment. The highest scoring application submitted from each state will be approved and all remaining applications will be approved in order of highest to lowest score until funds are exhausted. The member, PHA and FHLB Dallas enter into a tri-party agreement governing the terms of the award
   1. Once an approved project receives a commitment, they can begin going through the FORTIFIED certification process through Insurance Institute for Business and Home Safety (IBHS). This entails submitting the project details to IBHS for approval, connecting with a FORTIFIED evaluator and taking any other necessary steps in preparing for the roof replacement
3. Funds Disbursement – Funds are disbursed as a direct grant to the member institution based on the approved application and terms of the commitment. The member, in turn, provides the funds to the PHA
4. FORTIFIED Certification – Once the roof replacement is complete, the FORTIFIED certificate issued by IBHS must be submitted to FHLB Dallas. Upon review and verification, FHLB Dallas will notify the member institution of project completion

 
Application Details
PHAs interested in applying can visit our Resources page for application materials and the scoring rubric.

Applications may be submitted during the annual round to fortifiedfund@fhlb.com.

To qualify, the sponsoring PHA and its affordable rental property must meet certain requirements:
•    The sponsoring PHA must be state-chartered
•    The sponsoring PHA must be located and chartered in Arkansas, Louisiana, Mississippi, New Mexico or Texas
•    The sponsoring PHA must own the rental property that will receive the upgraded FORTIFIED roof. Alternatively, the property can be owned by a PHA-owned/controlled nonprofit
•    The property must reserve all units for households at or below 80 percent of the area median income until December 31, 2036, or beyond. Eligible properties may not contain market-rate units or commercial property (with the exception of on-site leasing and property management offices)
•    The property may be a scattered-site property. In such cases, FHLB Dallas determines, in its sole discretion, what constitutes a subject property. Factors FHLB Dallas may consider include how the final legally enforceable retention agreement is attached to the real property, how other funders (if any) are defining a project and how costs are allocated and accounted. Scattered-site rental properties that include single- or multi-family housing units located in multiple noncontiguous sites may be grouped into a single project so long as all sites are located within the same county or parish
•    Property must be located in a Federal Emergency Management Agency (FEMA)-declared very high-, relatively high- or moderately high-risk county for hurricanes, hail, tornadoes or strong winds, based on FEMA’s Risk Index for hurricanes, hail, tornadoes or strong winds
•    The sponsoring PHA must have a public housing assessment system (PHAS) score of 60 or above
•    The sponsoring PHA must have plans for the roof replacement in their most recent five-year plan as submitted to the United States Department of Housing and Urban Development (HUD)
•    The sponsoring PHA must contribute at least 10 percent of the total project cost as noted in the development budget

Resources

FHLB Dallas FORTIFIED Fund Rental Program Rental Application

FHLB Dallas FORTIFIED Fund Rental Program Scoring Rubric