$6.675M allocated to Arkansas for 267 affordable housing units

DALLAS (KNWA/KFTA) — The Federal Home Loan Bank of Dallas (FHLB Dallas) has awarded $73.5 million in Affordable Housing Program (AHP) grants to support 53 housing projects across six states, including Arkansas.

FHLB Dallas announced grants for 53 housing projects across Arkansas, Colorado, Louisiana, Mississippi, New Mexico and Texas on Oct. 22. According to the bank, the funding will support the creation or rehabilitation of 3,777 housing units.

In Arkansas, a total of $6,675,000 has been allocated to support 267 units:

• In Batesville, a grant of $1,500,000 for 60 rental units (through member institution Simmons Bank and project sponsor Garrison Community Development USA).
• In Bull Shoals, a grant of $675,000 for 27 rental units (through FNBC Bank and sponsor Independence Village, Inc.).
• In Clarksville, a grant of $1,500,000 for 60 rental units (through Simmons Bank and sponsor Prairieland Community Development).
• In Harrison, a grant of $1,500,000 for 60 rental units (through Arvest Bank and sponsor Harrison Estates Senior Housing).
• In Hope, a grant of $1,500,000 for 60 rental units (through Simmons Bank and sponsor Prairieland Community Development).

“Through the strength of our member institutions, we’re able to channel these funds into projects that directly address the housing needs of our communities,” FHLB Dallas President and CEO Sanjay Bhasin stated in a news release. “Our Affordable Housing Program is one of the most powerful tools we have to respond, and we’re proud to support projects that will bring affordable, quality housing within reach for thousands.”

The funds will specifically support construction or rehabilitation of owner-occupied, rental, transitional and homeless housing.

FHLB Dallas is one of 11 regional banks in the Federal Home Loan Bank system. It serves roughly 800 member institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas, with reported total assets of $116.1 billion as of June 30, 2025.