BATESVILLE, Ark. – The Federal Home Loan Bank of Dallas has awarded a $1.5 million Affordable Housing Program grant to support the development of 60 rental units in Batesville, part of a broader $6.675 million allocation for 267 affordable housing units across Arkansas.
The funding for the Batesville project flows through member institution Simmons Bank to project sponsor Garrison Community Development USA. It will help finance the construction or rehabilitation of rental housing for income-qualified households.
FHLB Dallas announced the grants for 53 projects across Arkansas, Colorado, Louisiana, Mississippi, New Mexico and Texas on Oct. 22. The total $73.5 million in awards will support 3,777 new or rehabilitated housing units, including owner-occupied, rental, transitional and homeless housing.
Other Arkansas recipients include:
- Bull Shoals: $675,000 for 27 rental units through FNBC Bank and sponsor Independence Village, Inc.
- Clarksville: $1.5 million for 60 rental units through Simmons Bank and sponsor Prairieland Community Development.
- Harrison: $1.5 million for 60 rental units through Arvest Bank and sponsor Harrison Estates Senior Housing.
- Hope: $1.5 million for 60 rental units through Simmons Bank and sponsor Prairieland Community Development.
FHLB Dallas President and CEO Sanjay Bhasin said in a news release, “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. 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.”
FHLB Dallas, one of 11 regional banks in the Federal Home Loan Bank system, serves roughly 800 member institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas, with total assets of $116.1 billion as of June 30, 2025. The bank annually returns at least 10% of its profits as AHP grants.