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The Federal Home Loan Bank of Dallas awarded nearly $8M in Affordable Housing Program grants to 27 projects, including four Texas properties.
FHLB Dallas returns 10% of its annual profits in AHP grants to the communities served by member institutions.
Low-income, elderly and special needs residents can take advantage of the grants by way of member institutions. The funds can be used for closing costs, down payments, or construction for multifamily communities or single-family homes.
This round of grants will create 1,500 units within the Arkansas, Louisiana, Mississippi, New Mexico and Texas region (and one state outside the district: Florida). A Corpus Christi community will pump $500k into 220 units by way of member Frost Bank and sponsor the Salvation Army. A Fort Worth community will get $500k for 160 units through Texas Capital Bank and sponsor Presbyterian Night Shelter Tarrant County. A San Antonio community received $500k for 60 units from Frost Bank for sponsor Adult & Teen Challenge of Texas. A Groesbeck community will pump $500k into 80 units by way of member Home Federal Bank and sponsor Groesback Housing Authority.
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