Tuesday, April 15, 2008
Dallas Habitat for Humanity receives $400,000 grant
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Congresswoman Eddie Bernice Johnson today announced that Dallas Area Habitat for Humanity has been awarded a $400,000 affordable housing grant from the Federal Home Loan Bank of Dallas (Bank), through Tolleson Private Bank in Dallas.
Dallas Area Habitat for Humanity will use the funds to provide down-payment assistance to 40 low-income families in Dallas. The qualifying families earn 50 percent or lower of the area median income.
The FHLBank system has a long history of supporting financial institutions that provide low-interest loans to Americans seeking to become homeowners,” Congresswoman Johnson said. “Dallas Area Habitat for Humanity is the third-largest Habitat for Humanity affiliate in the country, and it is responsible for the construction of more than 70 homes each year. The funds provided by this grant will enable Dallas Area Habitat for Humanity to partner with even more hardworking families in the Greater Metroplex, enabling them to realize the dream of owning—and building—their own homes.”
The Bank invests 10 percent of its earnings each year in Affordable Housing Program (AHP) grants provided through the Bank’s member financial institutions. In 2007, the Bank awarded $18 million in grants to assist 2,298 households,
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 $63.6 billion, 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 website at www.fhlb.com.
Source: Congresswoman Eddie Bernice Johnson
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