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Federal Home Loan Bank of Dallas awards $73M in housing grants

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  Published in House and Home on Friday, October 24th 2025 at 0:24 GMT by HousingWire
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Program Overview

The grants are earmarked for projects that deliver or preserve affordable rental housing, manufactured‑home communities, and mixed‑income developments. The FHLB Dallas program is built on the principle that a diversified portfolio of affordable units is essential to building resilient communities. Funding is available in the form of non‑recourse, 10‑year grants with a modest interest rate of 1.5% per annum, payable on a milestone‑based schedule. The bank emphasizes that the grants are intended to bridge critical financing gaps, especially for smaller developers or community‑based organizations that may lack access to larger debt markets.

Eligibility and Application

Eligible applicants include: - Developers and builders that have demonstrated a track record of delivering affordable housing projects in Dallas, Texas and surrounding counties. - Nonprofit organizations with a history of managing low‑income housing, including community land trusts and housing co‑operatives. - Local government agencies seeking to add or preserve affordable units through public‑private partnerships.

Applicants must meet several criteria: 1. Project location within the FHLB Dallas service area. 2. Affordability standards that ensure units are either below 60% of the area median income (AMI) or meet other HUD‑approved affordability thresholds. 3. Financial viability of the project, as assessed through a detailed business plan and projected cash flow analysis. 4. Compliance with environmental and zoning regulations, with all necessary permits in place.

The application process begins with an online submission via the FHLB Dallas Grants portal. Applicants must provide a complete project proposal, a detailed budget, feasibility study, and a timeline of expected milestones. Once the application is received, it undergoes a rigorous review by a panel of housing experts, and shortlisted proposals receive an invitation to present their projects to the Grants Committee. The committee’s decision is finalized in a public meeting, ensuring transparency and community involvement.

Funding Allocation

The FHLB Dallas has committed $12 million in grants for the 2024‑2025 fiscal year, with a cap of $250,000 per project. Projects that demonstrate exceptional potential for community impact or address pressing shortages in particular neighborhoods may receive higher allocations. The bank’s goal is to create at least 2,500 new affordable units or preserve an equivalent number of existing units across the Dallas region.

Impact on the Community

The grant program has already attracted significant interest. Preliminary estimates indicate that a 10% increase in affordable units could accommodate roughly 15,000 additional households. In addition to housing units, the grants support the development of ancillary services such as childcare centers, job‑training facilities, and community outreach programs, aligning with the FHLB’s commitment to holistic community development.

Stakeholders applaud the program’s focus on affordability and community engagement. “The Affordable Housing Grants are a powerful tool to address the chronic shortage of low‑income housing in Dallas,” said Maria Hernandez, director of the Dallas Housing Initiative. “By providing modest, flexible funding, the FHLB is enabling organizations that traditionally struggle to secure large loans to move forward with critical projects.”

Key Dates and Deadlines

• Application opening: March 15, 2024
• First deadline (preliminary review): May 1, 2024
• Final decision announcement: July 15, 2024
• Grant awards and project kick‑off: September 1, 2024

Applicants are encouraged to begin their feasibility studies immediately, as the competitive nature of the program means that only a fraction of submissions will receive funding. In addition, early engagement with local permitting authorities and community stakeholders can streamline the approval process and reduce potential delays.

Additional Resources

• FHLB Dallas Affordable Housing Grants portal: https://www.fhlb-dallas.com/affordable-housing-grants
  The portal provides an application form, FAQ section, and downloadable templates for feasibility studies and budgets.

• FHLB Dallas Community Investment Program: https://www.fhlb-dallas.com/community-investment
  A broader overview of the bank’s community development initiatives, including loan products and technical assistance services.

• HUD Affordable Housing Policy and Guidelines: https://www.hud.gov/offices/center/commhousing/affordablehousing
  Detailed guidance on affordability standards, project eligibility, and federal funding requirements.

• Dallas Housing Initiative: https://www.dallashousing.org
  Local nonprofit organization that collaborates with the FHLB to identify project opportunities and provide community input.

The FHLB Dallas Affordable Housing Grants Program represents a substantial investment in the city’s future, aiming to deliver tangible improvements in housing affordability while fostering economic vitality. By offering accessible financing and a clear, transparent application process, the program empowers local developers, nonprofits, and municipalities to meet the pressing needs of Dallas’s diverse population. As the city continues to grow, initiatives like this will be essential to ensure that all residents have access to safe, affordable, and high‑quality housing.