At the beginning of April as businesses began to shut their doors to comply with government lockdowns to slow the spread of the coronavirus, the Federal Home Loan Bank of Dallas (FHLB Dallas) introduced its COVID-19 Relief Program for member financial institutions.

Among the program’s features was $2 million in additional funding for the Partnership Grant Program (PGP) for qualified community-based organizations (CBOs) in FHLB Dallas’ five-state District of Arkansas, Louisiana, Mississippi, New Mexico and Texas. The program provided a total of $2.3 million in funds as well as a new 5:1 match (previously 3:1) of member contributions. It enabled grants of up to $30,000 to support eligible CBOs involved in affordable housing, small business development or small business technical assistance. The use of funds was also expanded to include COVID-19 relief. Members could contribute from $500 to $6,000 to a CBO to provide, with the FHLB Dallas, a maximum of $60,000 in grant to any one CBO for
the year.

In 2020, 63 member financial institutions joined FHLB Dallas to award 99 CBOs more than $2.8 million in funds amid the pandemic.

In addition, FHLB Dallas recently announced, in partnership with its members, it has awarded $19.3 million in Affordable Housing Program (AHP) subsidies to 38 projects in its five-state District, which will result in the creation or rehabilitation of 2,749 housing units.

More than $324 million has been awarded through AHP and AHP set-aside programs since its inception in 1990 to help more than 56,500 households.

To learn more about PGP, visit fhlb.com/pgp. To learn more about AHP, visit fhlb.com/ahp.
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