Representative Stephanie Herseth Sandlin (D-SD) joined South Dakota homeowners to celebrate the $3.0 million that has been distributed to rebuild communities and assist buyers in achieving homeownership. By the end of this year, 700 families will have received grants to purchase or rehabilitate their home through partners Dacotah Banks, Inc. and Homes Are Possible, Inc. (HAPI), a non-profit organization committed to empowering families and revitalizing neighborhoods. Casey Loeschke, a recipient of the grant over three years ago, spoke of her experiences with the program and why she enjoys owning her home.

Click here for a photo. Click here to read the full press release.

Senator Chuck Grassley (R-IA) marked the 20th anniversary of the Federal Home Loan Bank of Des Moines Affordable Housing Program on Presidents Day and recognized Iowa financial institutions for partnering with nonprofit groups, developers and community leaders to bring over $30 million in housing assistance to the state. The Senator also announced $12.7 million in new funding through AHP to the Bank’s five-state district including $738,000 to the state of Iowa.

Region XII Council of Governments and Iowa State Bank secured $397,500 during the 2009 round to improve 75 homes. Laurie Gilbert, housing programs manager, with Region XII COG and Steve Spotts, president Iowa State Bank spoke about their experiences with the program and its importance to the communities they serve.

Click here for a photo. Click here to read the full press release.

Nearly 100 people gathered in the St. Clair, Missouri City Hall on Wednesday, February 3, 2010 to celebrate $8.4 million in funding that has been distributed through Federal Home Loan Bank of Des Moines Affordable Housing Program (AHP) to rebuild communities and assist with the rehabilitation of 38 USDA Rural Development financed properties.

Many of the properties that have been awarded funds through the competitive grant program do not have sufficient cash flow to perform needed repairs or upgrades. The average annual income of a tenant is less than $10,000.

Janie Dunning, director, Missouri USDA Rural Development and Charles Butler, president, Farmers and Merchants Bank in St. Clair, Missouri accepted the check from FHLB Des Moines Board Members, John Kennedy, Joe Stewart and Jerry Eid.

Click here for a photo. Click here to read the full press release.

On January 8, 2010, Congressman Timothy Walz (MN-1) announced a $495,000 Affordable Housing Program grant awarded to partners, Bremer Bank and Habitat for Humanity of Minnesota, to construct 55 new homes throughout the state in 2010. The 10 year partnership between Bremer Bank and HFH-MN has resulted in 11 AHP Grants totaling nearly $5.0 million. The grants have been used to assist in the funding of 672 homes that benefit 58 counties across the state.

To read the full press release, click here. For photos from the event, click here. For more information about Habitat for Humanity of Minnesota, click here.
 

FHLB Des Moines held a Public Policy Forum on the Future of Housing Finance November 17 and 18, 2009 in St. Paul, Minnesota. A wide array of experts including government officials, academics, consumer advocates, housing representatives and banking and mortgage finance professionals attended the event. The information discussed at the Forum has been helpful in identifying the next steps needed to develop a sustainable and effective housing finance system.

For photos from the event, click here.

 

In 2008, FHLB Des Moines awarded the City of Minneapolis a $1.5 million AHP grant to fund the Minneapolis Advantage Program which provides down payment or closing cost assistance to help homebuyers move back into neighborhoods heavily impacted by foreclosure.

On Monday, August 24, Representative Keith Ellison (MN-5) and Minneapolis Mayor R.T. Rybak announced 100 new homeowners have utilized the program and nearly $1.0 million has been distributed to rebuild communities and assist buyers in achieving homeownership. Joining officials were representatives from Wells Fargo, which partnered with the City to secure the grant, and three new homeowners who shared their experiences with about the program.

To read the full press release, click here. For photos from the event, click here.
For more information about the Minneapolis Advantage Program, click here.

On May 30, 2009, FHLB Des Moines announced grants totaling $1.0 million were recently awarded to 21 community financial institutions to help individuals and families achieve the dream of owning their own home. As part of Congressman Leonard L. Boswell’s Home Mortgage Educational Exhibition, the Bank shared information about the Urban First-time Homebuyer Fund which provides down payment, closing cost, counseling or rehabilitation assistance to households purchasing owner-occupied units in urban communities. For more information and full listing of the 2009 recipients, click here.

To read the press release for each state in the Bank's district, go to our Announcement / Publications or click here.

On April 14, 2009, Congressman Emanuel Cleaver, II (D-MO) addressed Federal Home Loan Bank of Des Moines members during a regional member meeting at the Westin Crown Center in Kansas City, Missouri.

Among other topics, Cleaver spoke about the American Recovery and Reinvestment Act of 2009 and addressed specific areas of the plan that will impact the nation and state of Missouri in particular. He also discussed proposed legislation on issues of significance to the financial industry.

Senator Klobuchar announced that communities in Minnesota will receive $6.3 million in affordable housing grants from the Federal Home Loan Bank of Des Moines during a press event on February 17, 2009.

Eight member financial institutions applied for and were awarded grants for the purchase, construction or rehabilitation of rental and single-family housing. The projects slated for completion with these grants will create or rehabilitate 464 affordable housing units and have an economic impact of $60.1 million in the state of Minnesota. For additional details, please read the following press release or click here for photos from the event.

In response to community housing and economic challenges, the Bank’s Board of Directors approved changes to the 2008 second round of AHP scoring criteria to pay special attention to foreclosure projects.

For a complete listing of the 2008 AHP recipients or for additional details about our Affordable Program, please click here.