FHLB Awards Millions in AHP Funds to Texas Housing Projects

by Houston Agent

The FHLB awarded over $3.3 million in AHP funds this year, including to grant recipient, Habitat for Humanity of Texas.

The Federal Home Loan Bank of Dallas (FHLB Dallas), along with its member institutions, were pleased to announce today that it has awarded more than $3.3 million in Affordable Housing Program (AHP) grants to 14 low- to moderate-income housing projects across Texas. The funds will be used to build or renovate 660 affordable housing units statewide.
The FHLB Dallas returns 10 percent of its profits each year in the form of AHP grants across its five-state District of Arkansas, Louisiana, Mississippi, New Mexico, and Texas. The grants are normally used to assist in financing the purchase, construction, and rehabilitation of very low- to moderate-income single-family, rental, transitional, and multi-family housing units.
President and CEO of FHLB Dallas, Terry Smith, said, “For more than 20 years, FHLB Dallas has been committed to helping our members address the affordable housing needs of their communities.”
This year, projects receiving AHP funding in Texas include a transitional housing facility for homeless veterans, down payment and closing cost assistance for income-qualified, first-time homebuyers, and emergency modifications and repairs for low-income and disabled homeowners. Funds have also been awarded to Habitat for Humanity affiliates in Texas.
“Habitat for Humanity is always excited to partner with FHLB Dallas and its Affordable Housing Program. By working with local FHLB Dallas member financial institutions, the AHP allows Habitat for Humanity to responsibly help more working Texans become homeowners,” said Executive Director of Habitat of Humanity of Texas, Matt Hull. Four Habitat for Humanity affiliates received AHP funding in Texas last year.

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