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Bulletins

Bulletin No.: 2019-13
June 17, 2019

TO: MEMBERS

SUBJECT: Arkansas Counties Declared Disaster Areas  

In response to severe storms and continued flooding in Arkansas that began on May 21, 2019, the Federal Home Loan Bank of Dallas (Bank) has made available its Disaster Relief Program (DRP), a low-cost advance program, to assist recovery efforts in the affected areas. Additionally, affected residents are eligible for the Bank’s Disaster Rebuilding Assistance Program, a grant program designed to support households in the Bank’s member communities that have been declared disaster areas eligible for individual assistance by the Federal Emergency Management Agency (FEMA).

On May 30, 2019, the following counties were designated as disaster areas by FEMA and therefore qualify for individual assistance: Arkansas, Conway, Crawford, Desha, Faulkner, Jefferson, Logan, Perry, Pope, Pulaski, Sebastian and Yell.

Under the Disaster Rebuilding Assistance Program:
• Grants are available for repair or construction costs not already funded by insurance or state or federal emergency assistance
• Homes must be located within the counties listed above or any counties 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 funds are not repaid
• Grants are available on a first-come, first-served basis

Members may apply for Disaster Rebuilding Assistance Program grants until funds are exhausted or December 31, 2019, whichever comes first. For more detailed program information, including application forms, visit fhlb.com/rebuilding or contact Community Investment at 800.362.2944.

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 storms and/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

Funding under the DRP will be available during the period from June 17, 2019 through November 29, 2019. Individuals and business owners located within FEMA-declared disaster areas may apply for the funds through the Bank’s member financial institutions.

For more detailed program information, including application forms and subsequently designated counties, visit the Bank’s website at fhlb.com/communityadvances and select the “Disaster Relief” tab, or contact Member Services at 844.345.2265. Thank you for your valued partnership.

Sincerely,

 

Sanjay K. Bhasin
President and Chief Executive Officer