Texas Senate Honors FHLB Dallas on 25th Anniversary of Affordable Housing Program
AUSTIN, Texas, Feb. 25, 2015 /PRNewswire-USNewswire/ -- Texas State Senator Eddie Lucio, Jr. (D-27) on Monday announced Senate Resolution No. 211 on the floor of the Texas Senate. The proclamation honors the Federal Home Loan Bank of Dallas (FHLB Dallas) on the 25th anniversary of its 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.
"I want to congratulate the Federal Loan Bank of Dallas for 25 years of putting families first with its Affordable Housing Program," said Senator Lucio. "The Program has made it a priority to help those Texan families most in need reach the distinctive pride of home-ownership. To this end, I feel it fitting to extend my heartfelt thanks for their work."
Senator Lucio lauded FHLB Dallas for its commitment to affordable housing financing.
"The topic of affordable housing has always been dear to me during my tenure as a legislator," added Senator Lucio. "The concerted efforts shown by the program to increase the standard of living of families has furthered my resolve and hope on this very important issue. I look forward to many more impactful years from the Affordable Housing Program of the Federal Loan Bank of Dallas."
Since 1990, Texas has been awarded more than $117 million in AHP competitive grants and $8.9 million in AHP set-aside program grants for the construction or rehabilitation of more than 650 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 and our member institutions are honored to support affordable housing in Texas," said FHLB Dallas President and CEO Sanjay Bhasin. "We have seen first-hand the significant improvements these grants have made in the quality of life for individuals and families."
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
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