04/29/2024 | Press release | Distributed by Public on 04/30/2024 16:19
DALLAS, TEXAS,April 29, 2024 - The Federal Home Loan Bank of Dallas (FHLB Dallas), a $125.1 billion cooperatively owned wholesale bank in Irving, Texas, is pleased to announce the release of its highly anticipated 2023 Affordable Housing Advisory Council (AHAC) Annual Report. This comprehensive report highlights the FHLB Dallas' commitment to financing the affordable housing and community investment initiatives of member financial institutions in its five-state region.
"We are proud to present our 2023 Affordable Housing Advisory Council Annual Report, which reflects our unwavering dedication to building stronger, more economically vibrant communities," said Greg Hettrick, senior vice president and director of Community Investment at FHLB Dallas. "As we continue to confront the challenges of housing affordability, we remain committed to driving positive change through collaborative partnerships."
Each year, FHLB Dallas returns a percentage of its profit to the communities it serves in the form of Affordable Housing Program (AHP) grants that fund the purchase, construction and/or rehabilitation of owner-occupied, rental or transitional housing and housing for homeless individuals.
In 2023, FHLB Dallas increased these commitments across the board, providing a combined $38.9 million in AHP General Fund and associated AHP homeownership programs.
FHLB Dallas also provided several million dollars through community investment grants and advances (loans) to support veterans' housing, community-based organizations, weather-resistant roofing, resolution of homeownership title issues in lower socio-economic areas and economic and small business lending.
The 2023 AHAC Report showcases FHLB Dallas' ongoing efforts to address critical housing and economic investment needs, while delivering tangible results.
Key highlights of the report include:
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