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, John Boozman, Mike Ross and Vic Snyder. 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:

·         Boys, Girls, Adults Community Development Center (Marvell): $52,855 provided through Helena National Bank, Helena, toward rehabilitation of five single-family and one duplex rental units for very low-income families.

·         Chicot Single Family (Lake Village): $120,000 provided through Simmons First Bank of South Arkansas, Lake Village, to 15 first-time homebuyers in rural Arkansas for down payment assistance.

·         Jericho Project (Little Rock):  $224,000 provided through Pulaski Bank & Trust, Little Rock, to construct a 16-unit transitional housing facility for formerly incarcerated homeless individuals.

·         Madison Heights Phase III (Little Rock):  $192,000 provided through Metropolitan National Bank, Little Rock, to construct a 60-unit facility for low-income families.

·         Mississippi County First Homes (Blytheville)  $30,000 provided through the First National Bank, Blytheville, to six very low-income homebuyers for closing cost and down payment assistance.

·         Pulaski Technical College Youthbuilders (North Little Rock):  $30,000 provided through Metropolitan National Bank, Little Rock, to construct two homes and rehabilitate a third for three very low-income first-time homebuyers.    

·         Royal View Subdivision (Forrest City):  $100,000 provided through Forrest City Bank, Forrest City, for construction of 20 single-family homes targeted to very low- and low-income first-time homebuyers.

·         Weatherization Plus (Little Rock and various):   $347,662 provided through Metropolitan National Bank, Little Rock, to 133 very low-income families with elderly and/or disabled members to weatherize their homes.

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. 

For more information, contact Drew Goesl (Lincoln) at (202) 224-6436; Rodell Mollineau (Pryor) at (202) 224-2325; Drew Nannis (Berry) at (202) 225-4076; Patrick Creamer (Boozman) at (202) 226-7569; Marie DesOrmeaux (Ross) at (202) 225-0753; or Jennifer Oglesby (Snyder) at (501) 324-5943.