CONGRESSWOMAN JOHNSON ANNOUNCES AFFORDABLE HOUSING GRANTS
Congresswoman Eddie Bernice Johnson (TX-30) announced the awarding of $330,000 in affordable housing grants by the Federal Home Loan Bank of Dallas provided through their member financial institutions.
“In a housing market like the one in Dallas, it is especially important to preserve the character of longstanding neighborhoods and to ensure that the city maintains its economic diversity,” said Congresswoman Johnson. “The awards will allow low income people to become homeowners and enable long-term residents to improve and stay in their homes.”
The grant recipients are:
• Dallas Area Habitat for Humanity will receive $180,000 towards the ownership of 20 homes for low-income individuals and families, made available through Tolleson Private Bank.
• Dallas Leadership Foundation will receive $150,000 towards City of Hope, a community-based neighborhood improvement program that operates in cooperation with church and business partners to rehabilitate homes for low-income homeowners, the elderly and disabled. The average cost per home for minor rehabilitations is $5,000. This grant will touch the lives of citizens across all age ranges, ethnicities and socio-economic status, made available through Guaranty Bank.
The Federal Home Loan Bank of Dallas invests 10 percent of its earnings each year in Affordable Housing Program (AHP) grants provided through member financial institutions.
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 $53.3 billion as of March 31, 2007, 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.
“I am extremely pleased that these worthy institutions will be receiving grants,” said Congresswoman Johnson. “I hope that this is the leading edge of a wave of affordable housing investment to come.”