The Federal Home Loan Bank of Dallas (FHLB Dallas) has awarded $28.4 million in Affordable Housing Program (AHP) subsidies to 43 projects in its five-state district of Arkansas, Louisiana, Mississippi, New Mexico and Texas. The subsidies will result in the creation or rehabilitation of 2,677 housing units.
“Affordable housing is a critical need for communities across the country,” says Sanjay Bhasin, FHLB Dallas president and CEO. “This year, we are proud to provide AHP funds to increase the supply of affordable housing in our members’ communities, providing housing stability and uplifting local economies in the process.”
FHLB Dallas annually returns 10 percent of its profits in the form of AHP subsidies to the communities served by its member institutions. This year’s subsidies were awarded through 24 member institutions. AHP subsidies are available up to $850,000 per application and can be used for the construction or rehabilitation of owner-occupied, rental or transitional housing, as well as housing for homeless individuals.
“The AHP has allowed us to support organizations creating housing opportunities to suit the diverse needs within our community,” says Brian North, president and CEO at Fifth District Savings Bank. “The projects we support require a significant amount of funding to cover construction costs. FHLB Dallas has been vital to cover funding gaps and many projects would not have come to fruition without its support.”
Louisiana-based Fifth District Savings Bank received two grants totaling $690,000 to support Gulf Coast Housing Partnership on two separate projects that will create 46 housing units in Hammond, Louisiana. Both developments will be built to the Insurance Institute for Business & Home Safety’s (IBHS) Fortified Multifamily Gold standard, designed to provide the highest possible protection against severe weather such as high winds, hail, hurricanes and tornadoes.
Del Rio El Paso Fort Worth
Sponsor: Austin Affordable Housing Corp.
Subsidy: $850,000 for 100 rental units
Sponsor: Integral Care
Subsidy: $850,000 for 60 rental units
Sponsor: Austin Housing Finance Corp.
Subsidy: $850,000 for 150 rental units
Sponsor: The SAFE Alliance Affordable Housing Corp.
Subsidy: $850,000 for 60 rental units
Sponsor: Foundation Communities Inc.
Subsidy: $850,000 for 156 rental units
Sponsor: Housing and Community Services Inc.
Subsidy: $850,000 for 60 rental units
Sponsor: Opportunity Center for the Homeless
Subsidy: $600,000 for 35 rental units
Sponsor: Presbyterian Night Shelter Tarrant County
Subsidy: $600,000 for 40 rental units
San Antonio Waco Wylie
Sponsor: Bread of Life Inc.
Subsidy: $500,000 for 31 rental units
Sponsor: New Hope Housing Inc.
Subsidy: $850,000 for 112 rental units
Sponsor: Star of Hope Mission
Subsidy: $616,280 for 250 rental units
Sponsor: Fifth Ward Community Redevelopment Corp.
Subsidy: $850,000 for 76 rental units
Sponsor: Tejano Center for Community Concerns
Subsidy: $850,000 for 93 rental units
Sponsor: HFCC Inc.
Subsidy: $614,000 for 41 rental units
Sponsor: Adult & Teen Challenge of Texas
Subsidy: $850,000 for 40 rental units
Sponsor: Waco Housing Authority
Subsidy: $850,000 for 79 rental units
Sponsor: Agape Resource & Assistance Center
Subsidy: $540,000 for 38 rental units
Fort Smith Hardy Lake Village
Sponsor: Restore Hope Arkansas
Subsidy: $850,000 for 60 rental units
Sponsor: Restore Hope Arkansas
Subsidy: $850,000 for 89 rental units
Sponsor: Riverview HOPE Campus
Subsidy: $850,000 for 57 rental units
Sponsor: Community Rescue Mission Inc.
Subsidy: $90,000 for six rental units
Sponsor: Spring River Apartments, LP
Subsidy: $480,000 for 32 rental units
Sponsor: HouseAboutit Community & Economic Development Agency
Subsidy: $270,000 for 18 rental units
Mountain Home
Sponsor: Community Living Inc.
Subsidy: $540,000 for 36 rental units
Sponsor: Downtown Little Rock Community Development Corp.
Subsidy: $850,000 for 109 rental units
Sponsor: University District Development Corp.
Subsidy: $390,000 for 26 rental units
Sponsor: Immerse Arkansas
Subsidy: $225,000 for 15 rental units
Sponsor: Eden Village of Mountain Home
Subsidy: $800,000 for 20 rental units
Hammond
Sponsor: Partners-for-Progress Inc.
Subsidy: $850,000 for 70 rental units
Sponsor: Gulf Coast Housing Partnership
Subsidy: $705,000 for 59 rental units
Sponsor: Gulf Coast Housing Partnership
Subsidy: $850,000 for 72 rental units
Sponsor: Northlake Homeless Coalition
Subsidy: $850,000 for 57 rental units
Sponsor: Gulf Coast Housing Partnership
Subsidy: $330,000 for 22 rental units
Sponsor: Gulf Coast Housing Partnership
Subsidy: $360,000 for 24 rental units
New Orleans River Ridge
Sponsor: The Banyan Foundation Inc.
Subsidy: $850,000 for 120 rental units
Sponsor: Blueprint Investment Fund
Subsidy: $450,000 for 30 rental units
Sponsor: Gulf Coast Housing Partnership
Subsidy: $850,000 for 92 rental units
Sponsor: Gulf Coast Housing Partnership
Subsidy: $435,000 for 29 rental units
McComb
Sponsor: Gulf Coast Housing Partnership
Subsidy: $450,000 for 30 rental units
Sponsor: New Century Development Corp.
Subsidy: $750,000 for 50 rental units
Sponsor: Mississippi Regional Housing Authority No. VI
Subsidy: $850,000 for 40 rental units
Sponsor: YES Housing Inc.
Subsidy: $610,000 for 61 rental units
Sponsor: El Camino Real Housing Authority
Subsidy: $220,000 for 32 rental units
