By Sal Christ, Reporter at Albuquerque Business First

The Federal Home Loan Bank of Dallas has awarded New Mexico $1.4 million in grant funding for about 200 rental units and 30 homes across the state.

Part of more than $7.6 million in Affordable Housing Program grants awarded to 30 projects within the bank's five-state district, the grant funding will ultimately go to two projects in Albuquerque, one project in Santa Fe and a Habitat for Humanity of New Mexico project that will build 30 homes in 12 cities across the state, including Albuquerque, Farmington, Taos and others.

In partnership with member institutions such as New Mexico Bank & Trust, Wells Fargo and Los Alamos National Bank, the grants are the result of a program in which FHLB Dallas returns 10 percent of its profits in the form of AHP grants; the funding goes toward everything from home rehabilitation efforts to assistance for first-time homebuyers and construction of low-income housing. Click here to read the full article.