Bulletin No.: 2017-20
August 28, 2017
SUBJECT: Texas Counties Declared Disaster Areas
In response to severe flooding caused by Hurricane Harvey, the Federal Home Loan Bank of Dallas (Bank) has made available its Disaster Relief Program (DRP) to assist recovery efforts in Southeast Texas.
On August 25, 2017, the following counties were designated as disaster areas by the Federal Emergency Management Agency (FEMA): Aransas, Bee, Brazoria, Calhoun, Chambers, Fort Bend, Galveston, Goliad, Harris, Jackson, Kleberg, Liberty, Matagorda, Nueces, Refugio, San Patricio, Victoria and Wharton.
Funding under the DRP will be available during the period from August 28, 2017 through February 28, 2018. Individuals and business owners located within state or federally declared disaster areas may apply for the funds through the Bank's member financial institutions.
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 hurricane and/or the accompanying tornadoes, straight-line winds or flooding.
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
- Advances terms range from three months to 40 years
Individuals and business owners located within any counties that are subsequently declared as disaster areas by FEMA or the state of Texas will also be eligible to apply for DRP funds.
For more detailed program information, including application forms, visit the Bank's website at fhlb.com or contact the Member Services department at 844.FHL.BANK (844.345.2265). Thank you for your valued partnership.
SVP and Chief Banking Operations Officer