- September 02, 2020
- Bulletin No: 2020-22
In response to the devastation caused by Hurricane Laura in parts of Louisiana, the Federal Home Loan Bank of Dallas (Bank) has activated its Disaster Relief Program (DRP), a low-cost advance program, to assist recovery efforts in the affected areas. Additionally, affected residents in the Bank's member communities that have been declared disaster areas eligible for individual assistance by the Federal Emergency Management Agency (FEMA) are eligible for the Bank's Disaster Rebuilding Assistance grants.
View the eligible Louisiana parishes that FEMA has declared disaster areas that qualify for individual assistance.
The DRP makes subsidized advances available to members to assist individuals and families whose homes or businesses were damaged or destroyed as a result of the storm.
Under the DRP:
- Funds are priced below the Bank's regular Community Investment Program (CIP) rates
- Income eligibility limits are expanded to 165 percent of the area median income
- Advance terms range from three months to 40 years
Individuals and business owners located within FEMA-declared disaster areas may apply for the funds through the Bank's member financial institutions. DRP advances are available today through March 3, 2021.
Click here and select the "Disaster Relief Program" tab for more information or contact Member Services at 844.FHL.BANK (844.345.2265).
Disaster Rebuilding Assistance:
- Grants are available, through the Bank's member financial institutions, to homeowners who are at or below 80 percent of the area median income, up to $10,000 for repair and construction costs not covered by insurance or federal or state emergency assistance
- Homes must be located within the parishes listed in the link above or any parishes that are subsequently declared as disaster areas by FEMA
- Homeowners must have 30 days of current ownership and must have had primary ownership of the home as of the date of the FEMA disaster declaration
- This is a grant program and, as such, the funds are not repaid
- Grants are available on a first-come, first-served basis
Members may apply for Disaster Rebuilding Assistance grants until funds are exhausted or December 31, 2020, whichever comes first. As of August 28, there was $329,717 in available 2020 funds. For more detailed program information, including application forms, visit fhlb.com/rebuilding or contact Community Investment at 800.362.2944.
Sanjay K. Bhasin
President and Chief Executive Officer