Federal Home Loan Bank of Dallas Releases 2023 Affordable Housing Advisory Council Annual Report
April 29 2024 - 8:23PM
Business Wire
The Federal Home Loan Bank of Dallas (FHLB Dallas), a $125.1
billion cooperatively owned wholesale bank in Irving, Texas, is
pleased to announce the release of its highly anticipated 2023
Affordable Housing Advisory Council (AHAC) Annual Report. This
comprehensive report highlights FHLB Dallas' commitment to
financing the affordable housing and community investment
initiatives of member financial institutions in its five-state
region.
“We are proud to present our 2023 Affordable Housing Advisory
Council Annual Report, which reflects our unwavering dedication to
building stronger, more economically vibrant communities,” said
Greg Hettrick, senior vice president and director of Community
Investment at FHLB Dallas. “As we continue to confront the
challenges of housing affordability, we remain committed to driving
positive change through collaborative partnerships.”
Each year, FHLB Dallas returns a percentage of its profit to the
communities it serves in the form of Affordable Housing Program
(AHP) grants that fund the purchase, construction and/or
rehabilitation of owner-occupied, rental or transitional housing
and housing for homeless individuals.
In 2023, FHLB Dallas increased these commitments across the
board, providing a combined $38.9 million in AHP General Fund and
associated AHP homeownership programs.
FHLB Dallas also provided several million dollars through
community investment grants and advances (loans) to support
veterans’ housing, community-based organizations, weather-resistant
roofing, resolution of homeownership title issues in lower
socio-economic areas and economic and small business lending.
The 2023 AHAC Report showcases FHLB Dallas’ ongoing efforts to
address critical housing and economic investment needs, while
delivering tangible results.
Key highlights of the report include:
- $28.4 million for the AHP General Fund
- $6.5 million for the Homebuyer Equity Leverage Partnership
(HELP), which provides grants for down payment and/or closing cost
assistance for eligible first-time homebuyers
- $2 million for Disaster Rebuilding Assistance (DRA), which
provides grants for homeowner repairs in federally declared
disaster areas within the FHLB Dallas District (Arkansas,
Louisiana, Mississippi, New Mexico and Texas)
- $2 million for the Special Needs Assistance Program (SNAP),
which funds home repairs and modifications such as wheelchair ramps
and wider doors to meet the needs of households containing a
resident with special needs
- $1.5 million through the new FHLB Dallas FORTIFIED Fund that
assists income-qualified homeowners in funding storm-resistant
roofs
- More than $900,000 in grants to assist nonprofit, governmental
and tribal entities with initiatives that help prevent or address
heirs’ property issues
The release of the 2023 report underscores FHLB Dallas’
commitment to transparency, accountability and financing affordable
housing and community investment to create lasting impact and
empower individuals and families to build better futures.
To access the full report, please visit the website. Detailed
information about FHLB Dallas’ community programs can be found at
fhlb.com/community-programs.
About the Federal Home Loan Bank of Dallas
The Federal Home Loan Bank of Dallas is one of 11 district banks
in the FHLBank System created by Congress in 1932. FHLB Dallas,
with total assets of $125.1 billion as of March 31, 2024, is a
member-owned cooperative that supports housing and community
development by providing competitively priced loans and other
credit products to approximately 800 members and associated
institutions in Arkansas, Louisiana, Mississippi, New Mexico and
Texas. For more information, visit our website at
fhlb.com.
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Corporate Communications Federal Home Loan Bank of Dallas
fhlb.com, (214) 441-8445