Mississippi Governor and Legislature Commend FHLB Dallas on 25th Anniversary of Affordable Housing Program

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Mar 20, 2015, 01:03 ET

JACKSON, Miss., March 20, 2015 /PRNewswire/ -- Governor Phil Bryant yesterday met with representatives of the Federal Home Loan Bank of Dallas (FHLB Dallas). FHLB Dallas also was recognized by the Mississippi Senate through a resolution honoring the 25^th anniversary of FHLB Dallas' Affordable Housing Program (AHP). The resolution, sponsored by Senator Steve Hale (D-10), lauds the program that helps very low- to moderate-income individuals and families with their housing needs.

Since 1990, Mississippi has been awarded more than $52 million in competitive Affordable Housing Program (AHP) grants from the Federal Home Loan Bank of Dallas (FHLB Dallas). On March 19, 2015, Senator Steve Hale (D-10) (center left) and Governor Phil Bryant (center right) met with FHLB Dallas representatives to honor the 25th anniversary of the housing program for very low- to moderate-income households.

Since 1990, Mississippi has been awarded more than $52 million in AHP competitive grants and $4.5 million in AHP set-aside program grants for the construction or rehabilitation of more than 250 housing 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. The grants are awarded through FHLB Dallas member institutions that participate in the programs.

"I appreciate the Federal Home Loan Bank of Dallas' efforts to provide affordable housing opportunities in Mississippi communities," Governor Bryant said.

Across its five-state District of Arkansas, Louisiana, Mississippi, New Mexico, and Texas, more than $286 million in competitive grants have been awarded, assisting more than 41,000 families since 1990 for the construction and rehabilitation of rental and owner-occupied housing. More than $24 million has been awarded since 1990 in set-aside grants to help first-time homebuyers and special-needs homeowners across the District.

Resolution sponsor Senator Hale thanked FHLB Dallas for its contributions.

"Our state has benefited tremendously from the AHP," Senator Hale said. "We have individuals and families right now living in more affordable conditions because of the work of FHLB Dallas and its members. On behalf of my constituents and all Mississippians, I say, 'thank you!'"

FHLB Dallas Senior Vice President and Chief Administrative Officer Bre Chapman said the Bank is pleased to support its members in financing affordable housing initiatives in their local communities.

"We are honored by Mississippi's recognition of the AHP, which helps our members create affordable housing opportunities for the residents of their communities," said Ms. Chapman.

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 $38 billion as of December 31, 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.

Contact:
Corporate Communications
Federal Home Loan Bank of Dallas
www.fhlb.com
(214) 441-8445

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SOURCE Federal Home Loan Bank of Dallas