The Federal Home Loan Bank of Dallas (FHLB Dallas) has unveiled its 2024 Affordable Housing Advisory Council (AHAC) Annual Report, showcasing a landmark year in community investment funding. With a total allocation of $149.5 million across various programs, the bank has significantly bolstered affordable housing and community development initiatives within its five-state district: Arkansas, Louisiana, Mississippi, New Mexico, and Texas.
Record-Breaking Affordable Housing Program (AHP) Funding
In 2024, FHLB Dallas committed $78.9 million through its Affordable Housing Program (AHP) General Fund, supporting 41 projects aimed at constructing or rehabilitating 3,571 housing units. This marks a substantial increase from the previous year’s $28.4 million allocation, reflecting the bank’s intensified efforts to address housing affordability challenges.
The AHP grants assist member institutions in financing the purchase, construction, and rehabilitation of owner-occupied, rental, or transitional housing, as well as housing for homeless individuals. Notably, the maximum grant per project increased to $2 million in 2024, up from $850,000 in 2023, enabling more substantial support for large-scale housing initiatives. (Federal Home Loan Bank)
Enhanced Homeownership Set-Aside Programs
FHLB Dallas’s commitment to promoting homeownership is evident in the significant funding allocated to its set-aside programs:
- Homebuyer Equity Leverage Partnership (HELP): Allocated $15.5 million in 2024, a 139% increase over 2023. HELP provides grants for down payment and closing cost assistance to eligible first-time homebuyers. (Federal Home Loan Bank)
- Disaster Rebuilding Assistance (DRA): Received $2.5 million to assist homeowners in federally declared disaster areas within the bank’s district with repair grants.
- Special Needs Assistance Program (SNAP): Allocated $2 million to fund home repairs and modifications for households with special needs, such as installing wheelchair ramps or widening doorways. (Federal Home Loan Bank)
Introduction of Innovative Pilot Programs
In 2024, FHLB Dallas launched four pilot programs to address specific community needs:
- Capacity Building and Growth Grant (CBGG): Designed to enhance the capacity of Community Development Financial Institutions (CDFIs) to support affordable housing, small businesses, and community economic development. (Fintel – Financial Intelligence)
- Community Advancement Through New Opportunities and Partnerships Yielding Results (CANOPY) Fund: Provides long-term, unsecured loans to non-depository CDFI members to support underserved, rural, and low- to moderate-income communities. (Fintel – Financial Intelligence)
- Community Development Special Finance Program (CDSFP): Aims to offer specialized financing solutions to support community development projects.
- Native American Housing Opportunities (NAHO) Fund: Allocated $1 million to improve access to affordable housing grants for Native American communities, supporting initiatives like home rehabilitation, rental assistance, and infrastructure improvements. (Federal Home Loan Bank)
Additional Community Investment Highlights
Beyond the primary programs, FHLB Dallas’s 2024 report underscores several other impactful initiatives:
- FORTIFIED Fund: Provided $4 million in grants to 302 homeowners for installing storm-resistant roofs, enhancing resilience against severe weather events.
- Small Business Boost (SBB): Disbursed $4.1 million in loans, supporting 56 businesses and creating 361 jobs, thereby stimulating local economies.
- Heirs’ Property Program: Allocated $2 million to assist 33 nonprofit, governmental, and tribal entities in resolving heirs’ property issues, facilitating clearer property ownership and access to financing.
- Partnership Grant Program (PGP): Awarded $1 million to 47 qualified community-based organizations to support their operational needs, fostering community development and capacity building.
Leadership Perspective
Reflecting on the year’s achievements, Greg Hettrick, Senior Vice President and Director of Community Investment at FHLB Dallas, stated:
“2024 was a transformative year for our community investment initiatives. The launch of our pilot programs, combined with a record-breaking year for our Affordable Housing Program and homeownership programs, underscores our unwavering commitment to strengthening communities. We look forward to building on this momentum in the years ahead.”
About the Federal Home Loan Bank of Dallas
Established by Congress in 1932, the Federal Home Loan Bank of Dallas is one of 11 district banks in the FHLBank System. As of March 31, 2025, FHLB Dallas reported total assets of $109.9 billion. The bank is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to approximately 800 members and associated institutions across Arkansas, Louisiana, Mississippi, New Mexico, and Texas.
For more information and to access the full 2024 AHAC Annual Report, please visit fhlb.com.
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