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Bulletins

Bulletin No.: 2014-30
December 5, 2014

TO: Members

SUBJECT: Bank Announces New Application Date for Competitive AHP Grants

The Federal Home Loan Bank of Dallas (Bank) announces that the deadline to submit grant applications for Affordable Housing Program (AHP) funds in 2015 is two weeks earlier than in previous years. Members are encouraged to make note of this important change.

The Bank will begin accepting applications February 2, 2015, and the deadline to submit an application for the 2015 AHP funding round is March 17, 2015. Applications may be submitted via the AHP Online Application portal on fhlb.com, which will open February 2.

By statute, the Bank returns 10 percent of its profits each year to the communities served by its member institutions in the form of AHP grants. In 2014, the Bank awarded $9.8 million in AHP grants to 33 affordable housing projects primarily within its District. The grants will result in the creation or rehabilitation of 1,586 new housing units. Since the program’s inception in 1990, the Bank has awarded more than $228 million in AHP grants to help approximately 42,000 families obtain safe, affordable, and quality housing.

AHP grants are a great source of gap funding for owner-occupied and rental developments. The grants may assist members in financing the purchase, construction, and/or rehabilitation of owner-occupied, rental, transitional, and homeless housing within members’ communities.

For more information on the AHP, or any of the Bank’s grant programs, or for technical assistance in completing your AHP application, please contact the Community Investment Department at 800.362.2944.

Sincerely,

Greg Hettrick
Vice President, Director of Community Investment