- November 18, 2021
- Bulletin No: 2021-23
The Federal Home Loan Bank of Dallas (Bank) has revised its Hurricane Recovery Grant (HRG) program to better assist members’ employees still recovering from Hurricane Ida. Specifically, the program has been revised to increase the member employee household income eligibility limit from 125 percent to 150 percent of the area median income and expand the member maximum from $150,000 to $200,000 per member institution.
About the HRG Program
The HRG is a special grant program that provides recovery assistance to help members’ employees whose households suffered a financial loss due to Hurricane Ida. Grants are available to homeowners and renters in areas designated for individual assistance by the Federal Emergency Management Agency (FEMA). The funds are intended to assist with reasonable and necessary expenses.
As of November 16, 2021, $1.6 million is available in HRG funds. Applications are available via SecureConnect.
FAQs about the HRG:
- Which member institutions are eligible for grants?
- Members and housing associates that are eligible for advances may apply for grant funds under this program on behalf of their employees who reside in the FEMA-declared disaster areas of Louisiana that have been designated for Individual Assistance (categories A and B) and whose households suffered financial loss
- How much grant money has the Bank set aside?
- An aggregate amount of $2.5 million in HRG grants was made available on September 27, 2021
- The member maximum has increased from $150,000 to $200,000
- How long will this program be available?
- Until the funds are exhausted or December 31, 2021, whichever occurs first
- What is the eligibility criteria for the HRG program?
- Household income must not exceed 150 percent (previously 125 percent) of the area median income (AMI) adjusted by household size
- Homeowners and renters may receive a maximum of $3,000
- What paperwork is needed?
- Submit one consolidated application for all employee grant requests which should contain the HRG Funding Request and the Residential Funding Record
- The HRG Funding Request Form includes the sum of the individual requests for member employee households listed on the Residential Funding Record and a member certification of adherence to the program guidelines
- The Residential Funding Record documents the details for each member employee household
- Where can I find more information?
- Contact Member Services at 844.345.2265 or email@example.com
Sanjay K. Bhasin
President and Chief Executive Officer