SAN ANTONIO, June 13, 2011 (GLOBE NEWSWIRE) -- Habitat for Humanity Texas (Habitat Texas) today awarded the Federal Home Loan Bank of Dallas (FHLB Dallas) its Habitat for Humanity Texas Partnership Award, which is given to organizations in Texas that have demonstrated a long-term commitment to supporting Habitat for Humanity affiliates across the state.
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FHLB Dallas, through its member institutions, has awarded more than $7.7 million in Affordable Housing Program (AHP) grants to Habitat Texas affiliates since 1991. Each year, FHLB Dallas returns 10 percent of its profits to the communities served by its member institutions in the form of AHP grants. AHP grants are used to purchase, construct, and/or rehabilitate single-family, transitional, and multifamily projects for very low- to moderate-income families.
"Over the past 20 years, Habitat Texas has been tapping into the FHLB Dallas resources and we want to highlight just how meaningful this relationship has been," said Habitat Texas Executive Director Matt Hull.
In addition to the AHP grants, FHLB Dallas has also awarded approximately $614,000 in the past two years to Texas Habitats through its AHP set aside programs – the Homebuyer Equity Leverage Partnership (HELP) program and the Special Needs Assistance Program (SNAP). HELP provides funds through FHLB Dallas member institutions to assist income-qualified, first-time homebuyers with down payments and closing costs on newly constructed or existing homes. SNAP provides funds through FHLB Dallas member institutions to assist owner-occupied special needs households with necessary home modifications or repairs.
The award was presented today during a luncheon, held as part of the Habitat for Humanity Texas 2011 Texas Sustainability Conference. The conference is designed to give participants a greater understanding of how to incorporate sustainable building practices into home construction and neighborhood revitalization.
"Because this is a sustainability conference, we've been very focused on AHP, which is the main program Habitats use," Mr. Hull said. "But the SNAP in my mind is really about helping people remain in their home and maintain their residence over time. SNAP grants are used to keep houses from deteriorating to the point they have to be torn down. The program helps keep people in their homes as opposed to being forced to move out, in the case of renters. That money is so hard to get anywhere else; there's very little state or federal money that is accessible for these small repairs. It's a very special niche."
The Dallas Area Habitat for Humanity (Dallas Area Habitat) has used SNAP grants as part of Habitat for Humanity's A Brush with Kindness exterior repair program, which serves low-income homeowners struggling to maintain the exterior of their homes. SNAP funding and member institution contributions have been instrumental components in revitalizing distressed neighborhoods.
"Over the past 25 years, Habitat has realized that in addition to demolishing blighted properties and building new homes, true neighborhood transformation requires the means to assist owner-occupants to complete essential repairs to their homes. These repairs not only improve the lives of the SNAP recipients, but they are a vital component of community renewal," said Bill Hall, CEO of Dallas Area Habitat. "We are so thankful to FHLB Dallas for establishing and funding the Special Needs Assistance Program as well as the generous support of FHLB Dallas member banks First Private Bank of Texas and Tolleson Private Bank. We hope to work together for many years to come."
In 2010, FHLB Dallas awarded $18.5 million in AHP grants through member institutions, of which $5.5 million was allocated to projects in Texas to support 912 housing units within the state. In 2011, FHLB Dallas has offered $10.5 million in AHP grants through its member institutions. Grant recipients will be announced this summer.
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 $33.2 billion as of March 31, 2011, 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 FHLB Dallas website at fhlb.com.
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About Habitat for Humanity Texas
Habitat for Humanity Texas (Habitat Texas) is a faith-based organization whose purpose is to support Habitat for Humanity affiliates in Texas in increasing production of decent, affordable housing. Habitat Texas was incorporated in 2005 and serves as the state trade association for the 80 plus habitat affiliate organizations across the state. Habitat Texas was formed primarily to assist affiliates in fund development, advocacy, programs, and networking.
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CONTACT: Corporate Communications Federal Home Loan Bank of Dallas www.fhlb.com (214) 441-8445