A $1.5 million grant will help develop 60 affordable rental units in Batesville as part of a larger $73.5 million initiative by the Federal Home Loan Bank of Dallas to support housing across six states.
The funding, awarded through FHLB Dallas’ Affordable Housing Program, is part of $6.7 million designated for Arkansas projects, supporting a total of 267 housing units statewide. The Batesville project is sponsored by Garrison Community Development USA in partnership with Simmons Bank.
“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,” said FHLB Dallas President and CEO Sanjay Bhasin. “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.”
Each year, FHLB Dallas contributes at least 10 percent of its profits to its Affordable Housing Program. This year’s grants were distributed through 26 member institutions to 53 projects across Arkansas, Colorado, Louisiana, Mississippi, New Mexico, and Texas. Funding can be used to build or renovate owner-occupied, rental, transitional, or homeless housing.
File image: Gena Tate for White River Now
Have a news tip or event to promote? Email White River Now at news@whiterivernow.com. Be sure to like and follow us on Facebook and Twitter. And don’t forget to download the White River Now mobile app from the Google Play Store or the Apple App Store.
Get up-to-date local and regional news/weather from the First Community Bank Newsroom on Arkansas 103.3 KWOZ every weekday morning and afternoon. White River Now updates are also aired on weekday mornings on
93 KZLE, Outlaw 106.5, and Your FM 99.5. Catch CBS News around the top of every hour on 1340 KBTA.
