Bulletin No.: 2018-02
February 16, 2018
SUBJECT: Introducing the Disaster Rebuilding Assistance Program
The Federal Home Loan Bank of Dallas (Bank) is pleased to announce a new Affordable Housing Program (AHP) set-aside program – the Disaster Rebuilding Assistance program.
This new grant program is designed to support households in the Bank’s member communities that have been declared disaster areas by the Federal Emergency Management Agency (FEMA). Large-scale disasters such as Hurricane Harvey in 2017 have demonstrated a need for immediate financial assistance beyond what insurance and state and federal agencies can provide. For 2018, the Bank has made available $500,000 in grants through the Disaster Rebuilding Assistance program.
Like all of the Bank’s grant programs, the grants are available through our member institutions. The program will provide homeowners who are at or below 80 percent of the area median income with up to $10,000 for repair and construction costs that are not covered by insurance or federal or state emergency assistance.
- 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 Bank’s five-state District of Arkansas, Louisiana, Mississippi, New Mexico and Texas, and must be in a FEMA-designated major disaster declaration area
- 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
- Counties or parishes declared as disaster areas and designated for individual assistance by FEMA on or after March 12, 2017 are eligible
- Grants are available on a first-come, first-served basis
The grants will be available to members beginning March 12, 2018.
The member application and
are available immediately at
Sanjay K. Bhasin
President and Chief Executive Officer