The Federal Home Loan Bank of Dallas (FHLB Dallas) awarded $73.5 million in Affordable Housing Program (AHP) grants to 53 projects in Arkansas, Colorado, Louisiana, Mississippi, New Mexico and Texas.<\/p>\n
Arkansas received $6,675,000 for 267 units, including:<\/p>\n
Batesville
Member: Simmons Bank
Sponsor: Garrison Community Development USA
Grant: $1,500,000 for 60 rental units<\/p>\n
Bull Shoals
Member: FNBC Bank
Sponsor: Independence Village, Inc.
Grant: $675,000 for 27 rental units<\/p>\n
Clarksville
Member: Simmons Bank
Sponsor: Prairieland Community Development
Grant: $1,500,000 for 60 rental units<\/p>\n
Harrison
Member: Arvest Bank
Sponsor: Harrison Estates Senior Housing
Grant: $1,500,000 for 60 rental units<\/p>\n
Hope
Member: Simmons Bank
Sponsor: Prairieland Community Development
Grant: $1,500,000 for 60 rental units<\/p>\n
\u201cThrough the strength of our member institutions, we\u2019re able to channel these funds into projects that directly address the housing needs of our communities,\u201d said FHLB Dallas President and CEO Sanjay Bhasin. \u201cOur Affordable Housing Program is one of the most powerful tools we have to respond, and we\u2019re proud to support projects that will bring affordable, quality housing within reach for thousands.\u201d<\/p>\n
FHLB Dallas annually returns at least 10% of its profits in the form of AHP grants to the communities served by its member institutions. View a video about the awards.<\/p>\n
This year\u2019s grants were awarded through 26 FHLB Dallas member institutions. Grants up to $1.75 million per organization were provided. They can be used for the construction or rehabilitation of owner-occupied, rental or transitional housing and housing for homeless individuals.<\/p>\n
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