OHKAY OWINGEH, New Mexico–(BUSINESS WIRE)–Century Bank and Federal Home Loan Bank of Dallas (FHLB Dallas) have partnered to award the Ohkay Owingeh Housing Authority (OOHA) a $300,000 Affordable Housing Program (AHP) grant to to help fund a down payment assistance program for tribal members of the Ohkay Owingeh Reserve for 30 new construction homes in northern New Mexico.
OOHA was established in 1997 by the Ohkay Owingeh Tribal Council to provide housing services to tribal members living on the Ohkay Owingeh Reservation. It provides new developments, rehabilitates homes and provides home ownership advice to new owners. During this time, OOHA has rehabilitated 300 homes and built approximately 80 new homes.
Some of the houses on the reservation are over 700 years old and are still occupied by descendants of those who originally settled on the land. Homes have deteriorated due to heavy use, and some families have chosen to move to modern housing estates outside the central Pueblo area of New Mexico. OOHA will build 30 new affordable homes as part of this $6.8 million project to encourage tribal members to stay on the reservation and keep this historic reservation alive.
“Many tribal members have low incomes and cannot afford to renovate or expand their homes on the reservation,” said Tomasita Duran, executive director of OOHA. “We want the families to continue living or return to the reserve. They are part of our history and the funds will help us achieve this goal.
Jeff Szabat, senior vice president and head of retail at Century Bank, said this project will have an impact on booking.
“The Affordable Housing Program is the best tool to achieve OOHA’s goal of providing affordable housing for its tribal members,” Szabat said. “The funds will go a long way towards this project, and we are grateful to have a partner like FHLB Dallas.”
AHP funds are intended to help FHLB Dallas members finance the purchase, construction and/or rehabilitation of owner-occupied, rental or transitional housing and housing for the homeless. AHP funds must be used to benefit households whose income is at or below 80% of the region’s median income.
In 2021, FHLB Dallas awarded $18.5 million in grants to 26 affordable housing projects. The grants will create 2,113 new or rehabilitated homes, including $1 million for 96 homes in New Mexico.
Between 1990 and 2021, FHLB Dallas awarded $344.6 million in AHP and Homeownership Set-Aside programs and helped nearly 60,000 households.
“Century Bank has a meaningful impact on the community it serves with AHP funds, and we are thrilled to partner with them on this worthwhile project,” said Greg Hettrick, Senior Vice President and Chief Community Investment Officer. at FHLB Dallas.
For more information on the AHP, visit fhlb.com/ahp.
About Century Bank
Founded in 1887, Century Bank remains a locally owned community bank with active ties to the communities we serve. With multiple branches throughout New Mexico, Century Bank offers a full range of quality banking products and services to New Mexico businesses and residents. For more information, visit the bank’s website at MyCenturyBank.com.
About Federal Home Loan Bank of Dallas
Federal Home Loan Bank of Dallas is one of 11 district banks in the FHLBank system established by Congress in 1932. FHLB Dallas, with total assets of $60.2 billion as of September 30, 2021, is a cooperative owned by its members that supports housing and community development by providing competitively priced loans and other credit products to approximately 800 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas . For more information visit our website at fhlb.com.