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SENATE RESOLUTION NO. 211
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WHEREAS, The Affordable Housing Program instituted by the |
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Federal Home Loan Bank of Dallas is marking its 25th anniversary |
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in 2015, and this occasion provides the ideal opportunity to |
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acknowledge the significant achievements of this noteworthy |
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program; and |
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WHEREAS, Congress created the Federal Home Loan Bank |
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System in 1932 to promote housing and to provide liquidity for |
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United States financial institutions; and |
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WHEREAS, Approximately 499 Texas financial institutions |
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currently partner as members of the Federal Home Loan Bank of |
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Dallas and thereby offer programs to Texas residents statewide; |
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and |
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WHEREAS, The Federal Home Loan Bank of Dallas dedicated the |
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Affordable Housing Program in 1990 by annually allocating 10 |
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percent of its net income to improve housing conditions for |
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income-qualified Texas residents; and |
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WHEREAS, Since 1990, Texas has been awarded Affordable |
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Housing Program competitive grants totaling more than $117 |
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million and set-aside grants amounting to more than $8.9 million; |
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and |
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WHEREAS, Funding from the Affordable Housing Program |
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competitive grants has contributed to the construction or |
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rehabilitation of more than 650 projects in Texas since 1990; and |
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WHEREAS, The Federal Home Loan Bank of Dallas serves a |
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five-state district that includes Arkansas, Louisiana, |
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Mississippi, New Mexico, and Texas; since the inception of the |
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Affordable Housing Program in 1990, competitive grants totaling |
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more than $286 million have contributed to the construction and |
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rehabilitation of rental and owner-occupied housing for more |
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than 41,000 families in the district, and set-aside grants of |
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more than $24 million have gone to help first-time homebuyers and |
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special-needs homeowners; now, therefore, be it |
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RESOLVED, That the Senate of the State of Texas, 84th |
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Legislature, hereby acknowledge and congratulate the Federal |
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Home Loan Bank of Dallas and its board of directors, officers, |
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employees, and advisory council on the occasion of the 25th |
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anniversary of the Affordable Housing Program and applaud them |
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for their generous contributions to the citizens of Texas and of |
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the district as a whole; and, be it further |
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RESOLVED, That a copy of this Resolution be prepared in |
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commemoration of the 25th anniversary of the Affordable Housing |
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Program. |
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Lucio |
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________________________________ |
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President of the Senate |
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I hereby certify that the |
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above Resolution was adopted by |
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the Senate on February 23, 2015. |
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________________________________ |
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Secretary of the Senate |
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________________________________ |
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Member, Texas Senate |