- September 18, 2023
- Bulletin No: 2023-26
In response to the devastation caused by severe storms and tornadoes in Arkansas and Northeast Mississippi this spring, the Federal Home Loan Bank of Dallas (Bank) has expanded its Housing Recovery Grant Program (HRG) and Small Business Recovery Grant Program (SBRG) to extend to the counties of Jackson and Jasper in Mississippi. The Bank has also waived the member caps as of September 18, 2023.
The Bank is offering the following assistance:
Small Business Recovery Grants: $513,671 is still available of $2.5 million that was allocated on April 27, 2023 for grants of up to $20,000 per eligible business to support small businesses in Arkansas and Mississippi impacted by severe spring storms. As of September 18, the Bank is waiving the member cap of $200,000 per member. The program is first-come, first-served and will be available until funds are exhausted, or until December 31, 2023, whichever occurs first.
Housing Recovery Grants: $444,000 is still available of $500,000 that was allocated April 27, 2023 for grants up to $4,000 per person to provide immediate storm recovery relief. This program is for member employees only, both renters and homeowners, and is available to member employee households that earn up to 165 percent of the area median income for their eligible county. As of September 18, the Bank is waiving the member cap of $100,000 per member. The program is first-come, first-served and will be available until the funds are exhausted or December 31, 2023, whichever occurs first.
The Bank previously announced the availability of its Disaster Relief Program, which makes subsidized advances available to members to assist individuals and families whose homes or businesses were damaged. The Bank has also activated its Disaster Rebuilding Assistance program, which provides grants for the repair and rehabilitation of owner-occupied housing affected by a disaster event in federally declared disaster areas eligible for individual assistance within the Bank’s District. See bulletins for Arkansas relief efforts (B2023-09) and Mississippi relief efforts (B2023-08) for details or contact Member Services at 844.FHL.BANK (844.345.2265).
Applications are available on Secure Connect and should be submitted to Member Services at Member.Services@fhlb.com for processing. For program information, contact Community Investment at 800.362.2944.
Sanjay K. Bhasin
President and Chief Executive Officer