2015 Regular Session ENROLLED
SENATE CONCURRENT RESOL UTION NO. 13
BY SENATOR THOMPSON AND REPRESENTATI VES ARNOLD AND LEGER
A CONCURRENT RESOL UTION
To recognize the twenty-fifth anniversary of the Affordable Housing Program and the
program's contributions to the citizens of Louisiana.
WHEREAS, the Affordable Housing Program was established by the Financial
Institutions Reform, Recovery, and Enforcement Act of 1989, with the first grants awarded
in 1990; and
WHEREAS, the United States Congress created the Federal Home Loan Bank
System in 1932 to promote housing and provide liquidity for financial institutions; and
WHEREAS, approximately one hundred thirty-six Louisiana financial institutions
currently partner as members of the Federal Home Loan Bank of Dallas and offer programs
to Louisiana residents statewide; and
WHEREAS, the Federal Home Loan Bank of Dallas dedicated the Affordable
Housing Program in 1990 by annually allocating ten percent of its net income to improve
housing conditions for income-qualified Louisiana residents; and
WHEREAS, since 1990, Louisiana has been awarded Affordable Housing Program
competitive grants totaling more than fifty-two million dollars and set-aside grants
amounting to more than three million eight hundred thousand dollars, resulting in a total
grant investment of more than fifty-six million dollars in Louisiana; and
WHEREAS, funding from Affordable Housing Program competitive grants has
contributed to the construction or rehabilitation of more than three hundred forty projects in
Louisiana since 1990; and
WHEREAS, the five-state district of the Federal Home Loan Bank of Dallas, which
includes Louisiana, has been awarded more than two hundred eighty-six million dollars in
competitive Affordable Housing Program grants for the construction and rehabilitation of
rental and owner-occupied housing, assisting more than forty-one thousand families since
1990; and
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WHEREAS, the five-state district of the Federal Home Loan Bank of Dallas has been
awarded more than twenty-four million dollars since 1990 in set-aside grants to help first
time home buyers and special needs homeowners.
THEREFORE, BE IT RESOLVED that the Legislature of Louisiana does hereby
recognize the twenty-fifth anniversary of the Affordable Housing Program and the program's
contributions to the citizens of Louisiana.
BE IT FURTHER RESOLVED that the Legislature of Louisiana does hereby
acknowledge and congratulate the Board of Directors, officers, employees, members, and
Advisory Council of the Federal Home Loan Bank of Dallas, including President and Chief
Executive Officer Sanjay K. Bhasin, Board Chairman Joseph F. Quinlan Jr., Board of
Director members Patricia Brister and Albert C. Christman, Senior Vice President and Chief
Administrative Officer Brehan Chapman and Vice President and Director of Community
Investment Greg Hettrick.
BE IT FURTHER RESOLVED that a copy of this Resolution be transmitted to the
Federal Home Loan Bank of Dallas.
PRESIDENT OF THE SENATE
SPEAKER OF THE HOUSE OF REPRESENTATIVES
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