Federal Home Loan Bank of Dallas Announces $18.6M in Affordable Housing Program Grants

DALLAS, March 9, 2010 (GLOBE NEWSWIRE) -- The Federal Home Loan Bank of Dallas (Bank) is pleased to announce that it has $18.6 million in Affordable Housing Program (AHP) grants available in 2010.

The Bank's AHP is a competitive grant program that operates through the Bank's member financial institutions. It is designed to assist members in developing affordable owner-occupied and rental housing for very low- to moderate-income families and individuals in their communities. The AHP grants help the Bank's members meet the affordable housing needs in their communities.

This year marks the 20^th anniversary of the program. Since 1990, the Bank has awarded more than $182 million in AHP grants, through its members, to assist nearly 35,000 families in obtaining an affordable place to live. In 2009, the Bank awarded $10.5 million in AHP grants to 48 affordable housing projects throughout its five-state District.

"For 20 years, the mission of the AHP has been to support our members in expanding affordable housing opportunities in the communities they serve," said Bank President and CEO Terry Smith. "The AHP has been a valuable tool in that effort. We are proud to partner with our members on projects ranging from affordable senior housing to transitional housing."

This year, the Bank will have a single application round for the 2010 AHP funds. Applications were made available on February 16, and will be accepted until April 15. The application, as well as scoring information, is available on the Bank's web site at fhlb.com/community/ahp/.

All eligible member institutions within the Bank's five-state District may access these funds for their own programs or for programs initiated in conjunction with nonprofit organizations, state or local governments, or for-profit developers, subject to the terms and conditions of the AHP. A list of the Bank's members is available on its web site at  fhlb.com/member/.

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. The Bank, with total assets of $65.1 billion as of December 31, 2009, 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 Bank's web site at  fhlb.com.

The Federal Home Loan Bank of Dallas logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3013