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(WASHINGTON, DC) Members of the Arkansas Congressional delegation today
announced more than $1 million in affordable housing grants for eight projects
across the state that will create 260 housing units for very low to moderate
income families.
The grants were announced jointly by U.S. Senators Blanche Lincoln
and Mark Pryor, and U.S. Representatives Marion Berry (AR-1), Vic Snyder
(AR-2), John Boozman (AR-3) and Mike Ross (AR-4). The grants were awarded
by the Federal Home Loan Bank of Dallas and funded through the Bank's member
financial institutions in the state.
The following projects received grants:
Arkansas Delta Dreams Homeownership, Marianna, will receive $187,500
toward principal reduction and down payment assistance for 25 very low-income
homebuyers;
Crawford and Sebastian Affordable Housing, Fort Smith, will receive
two grants: $350,000 toward principal reduction, and down payment
and closing cost assistance for 88 very low to moderate income homebuyers;
and, $72,000 toward down payment and closing cost assistance for 18 very
low to moderate income homebuyers;
Habitat for Humanity, Benton, will receive $21,856 toward construction
of two homes for purchase by very low-income homebuyers;
Habitat for Humanity, El Dorado, will receive $5,275 toward the construction
of a home for purchase by a very low-income family;
Rebuilding Together Emergency Repair, Rogers, will receive $35,000
toward rehabilitation of homes owned by 50 very low and low-income families;
Village at Scull Creek, Fayetteville, will receive $108,000 toward
the construction of a multi-family housing facility for 54 very low to
moderate income households.
The Federal Home Loan Bank, which was created by Congress to enable
local lenders to extend affordable credit for housing to their communities,
provides grants twice a year through its Affordable Housing Program (AHP).
FHLB member institutions partner with community organizations to apply
for AHP funds that can be used for the purchase, construction and/or rehabilitation
of housing projects. Since the program's inception, the FHLBank of Dallas
has contributed nearly $134 million toward the completion of more than
31,000 housing units. |
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