Little Rock, AR - This is a news release from Federal Home Loan Bank of Dallas
Arkansas State Senator Jake Files (R-8) today announced Senate Resolution 515, and State Representative George McGill (D-78) presented a House Citation to the Federal Home Loan Bank of Dallas (FHLB Dallas) to honor the 25th anniversary of the Affordable Housing Program (AHP). The program to help very low- to moderate-income individuals and families is made available through FHLB Dallas member financial institutions.
"It was an honor to recognize the leaders at the Federal Home Loan Bank of Dallas today in recognition of 25 years of service in Arkansas," said Senator Files. "There is not a single member of the Senate that hasn't felt the impact of FHLB Dallas in their district. We are fortunate to be able to say 'Thank you,' on behalf of all those in Arkansas who have benefited from FHLB Dallas and its members' community service."
Since 1990, Arkansas has been awarded, through FHLB Dallas members, more than $34 million in AHP competitive grants and nearly $6 million in AHP set-aside program grants, for the construction or rehabilitation of more than 235 projects. "Competitive" refers to the 100-point scale used to score applications. Applications achieving the highest scores receive first priority for funding. The set-aside programs assist first-time homebuyers and special-needs homeowners.
"FHLB Dallas is honored to support affordable housing and community revitalization in Arkansas through the Affordable Housing Program," said FHLB Dallas President and CEO Sanjay Bhasin. "We have seen first-hand the tremendous impact these grants have had on families and communities. It is gratifying for everyone involved, and thanks to the commitment of our members here in Arkansas, the funding is reaching those that need it the most."
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 $37.5 billion as of September 30, 2014, is a member-owned cooperative that supports housing and community development by providing competitively priced advances and other credit products to approximately 900 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas.