SLS 15RS-65 ORIGINAL
2015 Regular Session
SENATE CONCURRENT RESOL UTION NO. 13
BY SENATOR THOMPSON AND REPRESENTATI VES ARNOLD AND LEGER
COMMENDATIONS. Recognizes the 25
th
anniversary of the Affordable Housing Program
and the program's contributions to the citizens of Louisiana.
1 A CONCURRENT RESOL UTION
2 To recognize the twenty-fifth anniversary of the Affordable Housing Program and the
3 program's contributions to the citizens of Louisiana.
4 WHEREAS, the Affordable Housing Program was established by the Financial
5 Institutions Reform, Recovery, and Enforcement Act of 1989, with the first grants awarded
6 in 1990; and
7 WHEREAS, the United States Congress created the Federal Home Loan Bank
8 System in 1932 to promote housing and provide liquidity for financial institutions; and
9 WHEREAS, approximately one hundred thirty-six Louisiana financial institutions
10 currently partner as members of the Federal Home Loan Bank of Dallas and offer programs
11 to Louisiana residents statewide; and
12 WHEREAS, the Federal Home Loan Bank of Dallas dedicated the Affordable
13 Housing Program in 1990 by annually allocating ten percent of its net income to improve
14 housing conditions for income-qualified Louisiana residents; and
15 WHEREAS, since 1990, Louisiana has been awarded Affordable Housing Program
16 competitive grants totaling more than fifty-two million dollars and set-aside grants
17 amounting to more than three million eight hundred thousand dollars, resulting in a total
18 grant investment of more than fifty-six million dollars in Louisiana; and
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SLS 15RS-65 ORIGINAL
1 WHEREAS, funding from Affordable Housing Program competitive grants has
2 contributed to the construction or rehabilitation of more than three hundred forty projects in
3 Louisiana since 1990; and
4 WHEREAS, the five-state district of the Federal Home Loan Bank of Dallas, which
5 includes Louisiana, has been awarded more than two hundred eighty-six million dollars in
6 competitive Affordable Housing Program grants for the construction and rehabilitation of
7 rental and owner-occupied housing, assisting more than forty-one thousand families since
8 1990; and
9 WHEREAS, the five-state district of the Federal Home Loan Bank of Dallas has been
10 awarded more than twenty-four million dollars since 1990 in set-aside grants to help first
11 time home buyers and special needs homeowners.
12 THEREFORE, BE IT RESOLVED that the Legislature of Louisiana does hereby
13 recognize the twenty-fifth anniversary of the Affordable Housing Program and the program's
14 contributions to the citizens of Louisiana.
15 BE IT FURTHER RESOLVED that the Legislature of Louisiana does hereby
16 acknowledge and congratulate the Board of Directors, officers, employees, members, and
17 Advisory Council of the Federal Home Loan Bank of Dallas, including President and Chief
18 Executive Officer Sanjay K. Bhasin, Board Chairman Joseph F. Quinlan Jr., Board of
19 Director members Patricia Brister and Albert C. Christman, Senior Vice President and Chief
20 Administrative Officer Brehan Chapman and Vice President and Director of Community
21 Investment Greg Hettrick.
22 BE IT FURTHER RESOLVED that a copy of this Resolution be transmitted to the
23 Federal Home Loan Bank of Dallas.
The original instrument and the following digest, which constitutes no part
of the legislative instrument, were prepared by Curry Lann.
DIGEST
SCR 13 Original 2015 Regular Session Thompson
Recognizes the 25
th
anniversary of the Affordable Housing Program and the program's
contributions to the citizens of Louisiana.
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