• August 22, 2023
• Bulletin No: 2023-20

The Federal Home Loan Bank of Dallas (Bank) has activated its Disaster Relief Program (DRP) and Disaster Rebuilding Assistance (DRA) fund in response to the devastation caused by severe storms, straight-line winds and tornadoes that damaged parts of Mississippi between June 14 and June 19, 2023.

The DRP makes subsidized advances available to members to assist individuals and families whose homes or businesses were damaged or destroyed by the storms. DRA grants provide funds for the repair and rehabilitation of affected owner-occupied housing in federally declared disaster areas within FHLB Dallas’ District.

Under the DRP:

• Funds are priced below the Bank’s regular Community Investment Program rates
• Income eligibility limits are expanded to 165 percent of the area median income
• Advance terms range from three months to 40 years

• Grants are available through the Bank’s member financial institutions to homeowners who are at or below 80 percent of the area median income, in an amount up to $12,000 for repair and construction costs not covered by insurance or federal or state emergency assistance  
• Homes must be located within the counties listed in the link above or any counties that are subsequently declared by FEMA to be disaster areas that are eligible for individual assistance
• Homeowners must have 30 days of current ownership and must have had primary ownership of the home as of the date of the FEMA disaster declaration
• DRA is a grant and, as such, the funds are not repaid, and they are available on a first-come, first-served basis