- September 17, 2021
- Bulletin No: 2021-20
In response to the devastation caused by Hurricane Ida in Louisiana, the Federal Home Loan Bank of Dallas (Bank) has made $4 million available to affected communities through several disaster programs and charitable outreach.The assistance includes the following:
- Hurricane Recovery Grant program: $2.5 million
- Disaster Rebuilding Assistance: an additional $500,000
- Disaster Relief Program: low-cost advances
- Charitable giving: $1 million to Louisiana-area food banks and relief organizations
Applications for the programs will be processed on a first-come, first-served basis.
Hurricane Recovery Grant (HRG)
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.
HRG funds will be available beginning September 27, 2021. Applications are available via SecureConnect to provide members with additional time to prepare. A members-only webinar about the HRG will be held from 10:00 a.m. to 11:00 a.m. on September 23. Register here.
- 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 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 will be available beginning September 27
- There is a member maximum of $150,000
- 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 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 containing 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 firstname.lastname@example.org
DRA provides funds for the repair and rehabilitation of owner-occupied housing affected by a disaster event in federally declared disaster areas within the Bank’s District.
- Primary residence must be located in a disaster area designated by FEMA as eligible for Individual Assistance
- Limited to expenses not already paid for by insurance or federal or state emergency assistance
- Homeowners may receive up to a maximum of $10,000 per household
- Available on a first-come, first-served basis until funds are exhausted or December 31, 2021
- These funds will be available to members beginning September 27
Individuals located within FEMA-declared disaster areas may apply for DRA funds through the Bank’s member financial institutions. View the eligible parishes in Louisiana that FEMA has declared disaster areas that qualify for individual assistance.
For more detailed program information, visit fhlb.com/rebuilding or contact Community Investment at 800.362.2944 or email email@example.com.
Disaster Relief Program (DRP)
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. Funding will be available from September 17 through February 17, 2022. For more information on the DRP, contact Member Services at 844.345.2265 or firstname.lastname@example.org.
- Funds are priced below the Bank’s regular Community Investment Program rates
- Advance terms range from three months to 40 years
- Funds may be used to replace or rehabilitate residential properties, personal property, business property, equipment, inventory and/or community facilities
- To qualify, individuals must have incomes at or below 165 percent of AMI
- Businesses must be located in communities in which the average family income is at or below 165 percent of AMI and be businesses that will benefit or create jobs for individuals with income at or below 165 percent of AMI
Sanjay K. Bhasin
President and Chief Executive Officer