DALLAS, Aug. 11, 2011 (GLOBE NEWSWIRE) -- In partnership with its member institutions, the Federal Home Loan Bank of Dallas (Bank) is pleased to announce that $11 million in Affordable Housing Program (AHP) grants have been awarded to 53 affordable housing projects in 2011.
Each year, the Bank returns 10 percent of its profits in the form of AHP grants to assist in the development of affordable owner-occupied and rental housing for very low- to moderate-income families throughout the Bank's five-state District of Arkansas, Louisiana, Mississippi, New Mexico, and Texas. The grants are made available through the Bank's member institutions and are awarded on an annual basis.
AHP grants may be used to purchase, construct, or rehabilitate single-family, transitional, and multifamily projects for very low- to moderate-income households. Since the inception of AHP in 1990, the Bank has awarded more than $214 million in AHP grants that have benefited approximately 40,000 families.
"For more than 20 years, AHP has served as a critical funding source to meet the affordable housing needs across the Bank's District," said President and CEO Terry Smith. "Once again, FHLB Dallas is pleased to offer AHP funding in 2011, and we will continue to support our members' housing initiatives and the communities they serve."
AHP funding is utilized for a variety of projects, including emergency home rehabilitation for low-income, elderly and disabled residents; down payment and closing cost assistance for qualified first-time homebuyers; and the development and construction of low-income, multifamily apartment communities and single-family subdivisions.
Below is the complete list of projects by state that received AHP grants in 2011. The list and more information regarding AHP are available on the Bank's website at www.fhlb.com/community/ahp/.
Arkansas: $1,019,196 for 135 housing units
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Member: Bank of the Ozarks
Sponsor: Garland County Habitat for Humanity
Grant: $117,043
Project Location: Hot Springs, AR -
Member: Bank of the Ozarks
Sponsor: Habitat for Humanity of Saline County
Grant: $49,366
Project Location: Benton, AR -
Member: Bank of the Ozarks
Sponsor: Northwest Regional Housing Authority
Grant: $105,000
Project Location: Harrison, AR -
Member: BenefitBank
Sponsor: Crawford-Sebastian Community Development
Grant: $406,000
Project Location: Fort Smith, AR -
Member: Delta Trust & Bank
Sponsor: Ashley Directions, Inc.
Grant: $210,000
Project Location: Hamburg, AR -
Member: The First National Bank of Fort Smith
Sponsor: Next Step Day Room, Inc.
Grant: $120,000
Project Location: Fort Smith, AR -
Member: Simmons First Bank of Searcy
Sponsor: Habitat for Humanity of White County, Arkansas
Grant: $11,787
Project Location: Searcy, AR
Louisiana: $2,466,000 for 350 housing units
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Member: BancorpSouth Bank
Sponsor: Affiliated Blind of Louisiana Training Center
Grant: $224,000
Project Location: Lafayette, LA -
Member: Community First Bank
Sponsor: The Diocese of Lafayette
Grant: $140,000
Project Location: Lafayette, LA -
Member: Community Trust Bank
Sponsor: Fresh Start Outreach Ministries
Grant: $195,000
Project Location: Winnsboro, LA -
Member: Delta Bank
Sponsor: Macon Ridge Community Development Corporation
Grant: $120,000
Project Location: Ferriday, LA -
Member: Evangeline Bank & Trust
Sponsor: Evangeline Pointe Apartments, Inc.
Grant: $84,000
Project Location: Ville Platte, LA -
Member: First Federal Bank of Louisiana
Sponsor: Habitat for Humanity Calcasieu Area
Grant: $70,000
Project Location: Lake Charles, LA -
Member: IBERIABANK
Sponsor: Unity Village Home, Inc.
Grant: $63,000
Project Location: Eunice, LA -
Member: State-Investors Bank
Sponsor: New Orleans Area Habitat for Humanity
Grant: $224,000
Project Location: New Orleans, LA -
Member: Wells Fargo Bank South Central
Sponsor: Summit Housing Partners Management, LLC
Grant: $500,000
Project Location: New Orleans, LA -
Member: Whitney Bank
Sponsor: Bayou Area Habitat for Humanity
Grant: $45,000
Project Location: Thibodeaux, LA -
Member: Whitney Bank
Sponsor: East St. Tammy Habitat for Humanity
Grant: $50,000
Project Location: Slidell, LA -
Member: Whitney Bank
Sponsor: Gulf Coast Housing Partnership
Grant: $301,000
Project Location: New Orleans, LA -
Member: Whitney Bank
Sponsor: Habitat for Humanity of Greater Baton Rouge
Grant: $150,000
Project Location: Baton Rouge, LA -
Member: Whitney Bank
Sponsor: Habitat for Humanity St. Tammy West
Grant: $120,000
Project Location: Covington, LA -
Member: Whitney Bank
Sponsor: Neighborhood Housing Services of New Orleans Inc.
Grant: $180,000
Project Location: Mandeville, LA
Mississippi: $3,062,284 for 378 housing units
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Member: BancorpSouth Bank
Sponsor: Sacred Heart Catholic Mission
Grant: $200,000
Project Location: Camden, MS -
Member: BancorpSouth Bank
Sponsor: Starkville Area Habitat for Humanity
Grant: $25,000
Project Location: Starkville, MS -
Member: BankPlus
Sponsor: Community Students Learning Center
Grant: $308,000
Project Location: Lexington, MS -
Member: BankPlus
Sponsor: GLOBSRV
Grant: $196,000
Project Location: Jackson, MS -
Member: BankPlus
Sponsor: Habitat for Humanity/MetroJackson
Grant: $400,000
Project Location: Jackson, MS -
Member: The First, A National Banking Association
Sponsor: Flagship United Community Development Corporation
Grant: $250,000
Project Location: Waveland, MS -
Member: Planters Bank and Trust Co.
Sponsor: Greater Greenville Habitat for Humanity
Grant: $5,284
Project Location: Greenville, MS -
Member: Renasant Bank
Sponsor: NE Mississippi Habitat for Humanity
Grant: $50,000
Project Location: Tupelo, MS -
Member: Renasant Bank
Sponsor: Pontotoc County Habitat for Humanity
Grant: $21,000
Project Location: Pontotoc, MS -
Member: Trustmark National Bank
Sponsor: Choctaw Housing Authority
Grant: $217,000
Project Location: Philadelphia, MS -
Member: Trustmark National Bank
Sponsor: The FIED Association
Grant: $500,000
Project Location: Rolling Fork, MS -
Member: Trustmark National Bank
Sponsor: Mountain of Faith Ministries
Grant: $390,000
Project Location: Vicksburg, MS -
Member: Wells Fargo Bank South Central
Sponsor: RHA Affordable Housing II, Inc.
Grant: $500,000
Project Location: Olive Branch, MS
New Mexico: $288,000 for 36 housing units
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Member: Carlsbad National Bank
Sponsor: YES Housing, Inc.
Grant: $168,000
Project Location: Carlsbad, NM -
Member: Community Bank
Sponsor: Northern Pueblo Housing Authority
Grant: $120,000
Project Location: San Ildefonso Pueblo, NM
Texas: $3,325,057 for 660 housing units
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Member: The Bank & Trust of Bryan/College Station
Sponsor: Bryan College Station Habitat for Humanity
Grant: $112,800
Project Location: Bryan, TX -
Member: Amegy Bank
Sponsor: Catholic Charities of the Archdiocese of Galveston-Houston
Grant: $500,000
Project Location: Houston, TX -
Member: First Victoria National Bank
Sponsor: The City of Victoria
Grant: $245,000
Project Location: Victoria, TX -
Member: Lone Star National Bank
Sponsor: Community Development Corporation of Brownsville
Grant: $140,000
Project Location: Brownsville, TX -
Member: Mobiloil Federal Credit Union
Sponsor: Habitat for Humanity of Jefferson County
Grant: $60,000
Project Location: Beaumont, TX -
Member: BancorpSouth Bank
Sponsor: Habitat for Humanity of Texarkana
Grant: $10,000
Project Location: Texarkana, TX -
Member: NewFirst National Bank
Sponsor: Habitat for Humanity of Victoria
Grant: $19,257
Project Location: Victoria, TX -
Member: Amegy Bank
Sponsor: Lakewest ALF Realty, LLC
Grant: $500,000
Project Location: Dallas, TX -
Member: Frost National Bank
Sponsor: Mary Lee Community
Grant: $360,000
Project Location: Austin, TX -
Member: Broadway National Bank
Sponsor: Methodist Mission Home
Grant: $140,000
Project Location: San Antonio, TX -
Member: International Bank of Commerce
Sponsor: Proyecto Azteca
Grant: $140,000
Project Location: San Juan, TX -
Member: Amegy Bank
Sponsor: Travis Street Plaza, LP
Grant: $500,000
Project Location: Houston, TX -
Member: Amegy Bank
Sponsor: Temenos Community Development Corporation
Grant: $500,000
Project Location: Houston, TX -
Member: Amegy Bank
Sponsor: Village Learning Center, Inc.
Grant: $98,000
Project Location: Kingwood, TX
Out of District: $850,000 for 94 housing units
Colorado
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Member: American Bank of Commerce
Sponsor: Springs Rescue Mission
Grant: $500,000
Project Location: Colorado Springs, CO
Florida
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Member: Whitney Bank
Sponsor: Metropolitan Ministries, Inc.
Grant: $350,000
Project Location: Tampa, FL
About the Federal Home Loan Bank of Dallas
The Federal Home Loan Bank of Dallas is one of 12 district banks in the FHLBank System created by Congress in 1932. FHLB Dallas, with total assets of $31.4 billion as of June 30, 2011, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to more than 900 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas. For more information, visit the FHLB Dallas website at fhlb.com.
The Federal Home Loan Bank of Dallas logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3013