• July 31, 2023
• Bulletin No: 2023-17

The Federal Home Loan Bank of Dallas (Bank) is pleased to announce the availability of $1.75 million in grant funds through members to assist income-qualified homeowners in funding storm-resistant roofs that are designed to prevent damage from hurricanes, high winds, hailstorms, severe thunderstorms and tornados rated EF2 or lower.
 
The Bank’s FORTIFIED Fund grants will be available to members beginning August 21, 2023, and can be used to replace roofs on existing homes or subsidize the cost of roofs on new construction homes that are built with storm resistant materials to FORTIFIED construction standards:

• The Bank’s FORTIFIED Roof Grant: A replacement roof for an existing home
• The Bank’s FORTIFIED Construction Grant: A roof on a newly constructed home

• Households must be owner-occupied and have a family income of 120 percent or less of the median income for the area at the time the household is accepted for enrollment by the member
• The condition of the home will be evaluated prior to acceptance into the program by a qualified evaluator or third-party inspector who will be required to provide documentation that the home is built to certain standards to be eligible for the program
• While most homes will meet the requirements for the roofs provided under this program, please review the application for instances involving unreinforced foundations, roof sheathing or decking that could make a home ineligible

• The roof must be completed in accordance with the Bank’s FORTIFIED Roof Grant or the Bank’s FORTIFIED Construction Grant requirements, as applicable
• The member institution must pass on the full amount of the funds for the benefit of the household for which the funds were approved, which must be documented in applicable roof-related documents
• The roof replacement under the Bank’s FORTIFIED Roof Grant and certification must be completed within 90 days of the Bank’s funding commitment date, and the roof construction under the Bank’s FORTIFIED Construction Grant and certification must be completed within 180 days of the Bank’s funding commitment date
• For funds to be disbursed via the Bank’s FORTIFIED Roof Grant, a roof certification from an evaluator trained by the Insurance Institute for Business & Home Safety (IBHS) is required along with the final invoice for the roof
• For funds to be disbursed on a new home under the Bank’s FORTIFIED Construction Grant, a certification for the home will be required along with an executed final closing disclosure noting the homebuyer and the home address for which the funds were committed