Funds Will Assist in Development of Affordable Housing in New Orleans, Baton Rouge and River Ridge, Louisiana

The Federal Home Loan Bank of Dallas (FHLB Dallas) is pleased to announce that more than $2.8 million was awarded via four Affordable Housing Program (AHP) grants in U.S. Representative Troy Carter’s district to increase the supply of affordable housing stock for individuals and families in need.

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U.S. Representative Troy Carter (Photo: Business Wire)

“Affordable housing is a cornerstone of a thriving community and a basic right of every Louisiana resident,” said Representative Carter. “I want to thank the Federal Home Loan Bank of Dallas for its commitment to affordable housing access which helps Louisiana residents build a secure future.”

AHP grants assist FHLB Dallas members in financing the purchase, construction and rehabilitation of owner-occupied, rental or transitional housing and housing for homeless individuals. The funds must be used to benefit households with incomes at or below 80 percent of the area’s median income. The following projects in Congressman Carter’s district received AHP grants:

• Banneker Community and H3C Apartments: Gulf Coast Housing Partnership received two grants totaling $1,285,000 from Home Bank for projects in River Ridge and New Orleans, Louisiana. The funds will be used for the completion of Banneker Community — a 29-unit development and H3C Apartments — a health-focused, affordable community in the heart of New Orleans.
• Howell Village Grandfamily and Howell Village Senior: Gulf Coast Housing Partnership received an additional two grants totaling $1,555,000 from Red River Bank in Baton Rouge, Louisiana. The funds will be used for the completion of Howell Village Grandfamily and Howell Village Senior — 59- and 72-unit communities designed to meet the needs of low- to moderate-income seniors.

“We are thankful for Congressman Carter’s support for affordable housing initiatives and believe this grant will make a positive impact on the residents of New Orleans and Baton Rouge,” said Bre Chapman, executive vice president, chief ESG and administrative officer at FHLB Dallas.

In 2023, FHLB Dallas awarded $28.4 million in AHP grants to 43 affordable housing projects to help create 2,677 new or rehabilitated housing units in its District, which includes Louisiana.

This year, $99.4 million has been allocated for AHP and homeownership set-aside grants, which also help first-time homebuyers, special-needs households and homeowners impacted by disasters. Learn more at fhlb.com/ahp.

About Congressman Carter

Congressman Troy A. Carter, Sr. is a dedicated and elected United States House of Representatives member from Louisiana's 2nd Congressional District, always striving to serve his constituents. He currently serves on the Transportation and Infrastructure Committee, one of the most significant committees in Congress that has jurisdiction over all modes of transportation and infrastructure. He also serves on the powerful committee for Homeland Security of the United States, where he serves as Ranking Member over Emergency Management and Technology.

About the Federal Home Loan Bank of Dallas

The Federal Home Loan Bank of Dallas is one of 11 district banks in the FHLBank System created by Congress in 1932. FHLB Dallas, with total assets of $126.2 billion as of June 30, 2024, 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 in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit fhlb.com.

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