FHLB Dallas and First National Bank Texas Celebrate Revitalization of Affordable Single-Family Homes in Laguna, New Mexico
The Federal Home Loan Bank of Dallas (FHLB Dallas), First National Bank Texas (FNBT) and The Laguna Housing Development and Management Enterprise (LHDME) celebrated today the revitalization and grand opening of Laguna #4, an affordable housing community of single-family homes. This revitalization was made possible, in part, by a $1 million Affordable Housing Program (AHP) grant from FHLB Dallas, awarded through FNBT, an FHLB Dallas member.
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A $1 million AHP grant from FHLB Dallas, awarded through FNBT, helped fund the renovation of 40 homes in Laguna, New Mexico. Officials from FNBT division First Convenience Bank (first and third from left) with FHLB Dallas officials at the grand opening celebration.
The project builds on the success of Laguna #1, originally constructed in 2005 through low-income housing tax credit (LIHTC) financing. Laguna #4 includes 19 two-bedroom homes, 19 three-bedroom homes and two four-bedroom homes, totaling 40 single-family units.
