With a subdivision, infrastructure is provided in bulk for the entire community. However, scattered-site development often means higher costs to the homebuyer due to the extra expenses of transporting materials and working on a single house. Some families prefer to live “out in the country” or on allotted land that belongs to their families. Related to infrastructure costs is the assessment of subdivision development versus scattered-site construction. USDA/Rural Development and Indian Health Services, for example, fund this type of construction. Since these costs can significantly increase the cost of developing the home, it is important to explore partnerships to assist in covering these costs. In many rural communities, developing housing stock also means installing new infrastructure, including water, sewer/septic, and roads. Subsidizing infrastructure costs and exploring subdivisions versus scattered sites In South Dakota, for example, organizations may apply to the South Dakota Housing Development Authority Housing Opportunity Fund for support. Some states have funds available through their state housing agencies for down payment and closing cost assistance.

Many tribes have funds available to provide as down payment assistance/closing cost assistance for their members. HIP fundsīIA HIP funds may be used for down payment and closing cost assistance. This program is available only in the Des Moines region of the FHLB. Like the AHP, community organizations need to partner with a local FHLB member to apply for NAHI down payment funds. FHLB – Native American Homeownership Initiative (NAHI).FHLB Affordable Housing Program Fund (See above.).Some sources of down payment and closing cost assistance include: Various resources may be available to cover these costs, and like the principal-subsidy reduction sources, accessing down payment and closing cost assistance can also make homeownership more affordable for tribal members. Many mortgages require borrowers to make a down payment or pay closing costs. Some tribes have funds available to provide as principal-subsidy grants for their tribal members, while some tribes with significant resources can provide principal- subsidy grants for homebuyers from other tribes. While the program has traditionally assisted elderly and disabled tribal members, HIP funds may also be used for principal-reduction subsidies. The BIA provides housing assistance through its HIP program. The application process is quite detailed. The Federal Home Loan Bank System is organized by districts, and community organizations need to partner with a local FHLB member bank, credit union, or life insurer to apply. For more information about AHP, visit /ahp.Tribal members want options – and we made a conscious decision to provide asset building options for housing for tribal members and many have responded.įederal Home Loan Banks Affordable Housing Program (AHP) A new round of funding will be awarded in the fall. In 2021, FHLB Dallas awarded $18.5 million in subsidies to 26 affordable housing projects to help create or rehabilitate 2,113 housing units. Congresswoman Flores, R-TX, will be joined by the organization that received the subsidy – Prospera Housing Community Services, representatives from FHLB Dallas and city officials.ĪHP funds are intended to assist FHLB Dallas members in financing the purchase, construction and/or rehabilitation of owner-occupied, rental or transitional housing and housing for homeless individuals. The media is encouraged to attend a celebration of the AHP subsidy and join in a tour of the existing property.

The project was helped by a $750,000 Affordable Housing Program (AHP) subsidy from Wells Fargo and the Federal Home Loan Bank of Dallas (FHLB Dallas). The apartments are being torn down to make way for the $16.5 million reconstruction of Weslaco Village Apartments. Representative Mayra Flores on Wednesday. WESLACO, Texas, August 16, 2022-( BUSINESS WIRE)-The site where new affordable apartments will be built in Weslaco, Texas, will get a visit from U.S. Wednesday, AugSouth Bridge Avenue, Weslaco, TX 78596***

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