2012 FHLB Des Moines AHP Round Information

The Bank will be offering one competitive Affordable Housing Program (AHP) grant round this year that will begin on April 2, 2012 and end on May 15, 2012. There will be no changes to competitive scoring requirements, but a few program details have changed, including maximum grant awards and member limits. Further details are available by clicking here or you can visit the Community Investment page. If you have questions, please contact the Bank’s Community Investment Department by calling 800.544.3452, ext.1173.

Supplier Diversity

FHLB Des Moines strives to develop sustained relationships with diverse businesses by promoting supplier diversity engagement throughout the organization. The Bank recognizes the diversity that exists throughout our five-state district and understands the importance of selecting vendors that represent the diverse needs of the communities we serve.

If you are a business that is certified (or classified) as a diverse vendor by a nationally recognized certifying organization and you are interested in being part of a database of diverse vendors which the Bank reviews when contracting opportunities arise, please register with FHLB Des Moines supplier portal.

Congressman Cleaver Announces AHP Grants in Kansas City

Congressman Emanuel Cleaver, II announced that Kansas City neighborhoods will receive $740,000 in housing grants through the Bank’s Affordable Housing Program. The funds will be used to fund two projects:

• Neighborhood Housing Services of Kansas City, Inc. and U.S. Bank will use $283,000 in grant funds to rehabilitate foreclosed and abandoned homes, making them available to families that otherwise may not have been able to afford the home and the work required to make it safe and livable.

• A $457,000 grant will be awarded to City Union Mission, Inc. and CommunityAmerica Credit Union to make improvements to the Family Center. This project is necessary to maintain 48 units of homeless housing on the Family Center campus.

Webinar Resources

FHLB Des Moines continues to focus on delivering value to our members by providing educational resources. The online educational resources available on the Webinar Resources page will help you get the most out of your membership. Interested in additional information about the Bank’s products and services? Contact the webmaster and we will do our best to add the educational resources you need.

$1.2 Million Awarded to Minneapolis Housing Projects

Congressman Keith Ellison (DFL-MN) announced $1.2 million in AHP grants for Minneapolis projects on Monday, January 9. The funding will reduce the impact of foreclosures, decrease homelessness and strengthen neighborhoods through four projects:

Alliance Housing and Franklin National Bank
$360,000 grant to rehabilitate 12 foreclosed homes in North Minneapolis

Habitat for Humanity of Minnesota and Bremer Bank
$100,000 grant to restore safe homes for 17 families

Project for Pride in Living, Inc. and Wells Fargo Bank
$400,000 grant to construct 40 units of rental housing for people with mental illness

CommonBond Communities and U.S. Bank
$300,000 grant to create 60 new, HUD Section 202 homes

During the 22-year history of the Affordable Housing Program, FHLB Des Moines members and the four project sponsors have used $10.5 million in grants, providing places to call home for thousands of people. Over $131 million has been injected into the local economies through the development of the projects.

Repurchases of Excess Activity Based Capital Stock Reminder

On December 20, 2011, the Bank announced changes to future dividend payments and excess capital stock repurchases.

As a reminder at the close of business day on January 4, 2012, the Bank will reduce its Operational Threshold for excess activity based capital stock from $50,000 to $0. The Bank will continue its practice of repurchasing all excess activity based capital stock on the 19th of each month but reserves the right to repurchase excess activity based capital stock more frequently throughout the month and members may continue to request to have their balance repurchased down to $0 at any time.

For questions or more information on any of these changes, please contact Terri Goetsch, accounting supervisor, 800.544.3452, ext. 1424 or your VP – Member Services.