Funds Will Support High-Quality Affordable Housing Development

The Federal Home Loan Bank of Dallas (FHLB Dallas) is pleased to announce that an Affordable Housing Program (AHP) grant has been awarded in U.S. Representative Mike Ezell’s district. The funds will be used for a 30-unit affordable housing development located at the site of the former Beverly Drive-In Theater in Hattiesburg, Mississippi.

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U.S. Representative Mike Ezell (Photo: Business Wire)

“This investment in the heart of Mississippi’s Fourth Congressional District will create a positive impact within our community and provide South Mississippians with affordable, stable housing options,” said Representative Ezell. “Thank you FHLB Dallas for entrusting these funds to Gulf Coast Housing Partnership (GCHP), and I look forward to seeing this project come to completion.”

FHLB Dallas awarded the AHP grant to GCHP through FHLB Dallas member Trustmark Bank.

The project implements Phase III of Village at the Beverly III and will include a clubhouse, business center, fitness center, walking/jogging path, playground, sports court and gazebo as amenities for residents.

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

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.

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 Mississippi.

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 Ezell

Congressman Mike Ezell is an elected member of the United States House of Representatives from Mississippi’s Fourth Congressional District. He was elected in 2022 and began his service in the House on January 3, 2023. He is a native of Pascagoula, Mississippi.

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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