FHLB Des Moines Awards $22.4 Million in Housing Grants
Nearly 2,500 families will receive the gift of affordable housing this holiday season. The Federal Home Loan Bank of Des Moines (FHLB Des Moines) awarded $22.4 million in Competitive Affordable Housing Program (AHP) grants for housing projects across its district, consisting of 13 states and three U.S. Pacific territories.
Not only will the grants provide housing opportunities for those in need, they will allow existing homeowners to make essential repairs to improve their living situation. These efforts are made possible through AHP by partnerships between FHLB Des Moines member financial institutions and local non-profit organizations.
Ten-percent of the Bank’s annual net income is used for the development of affordable housing. Since the program’s inception in 1990, FHLB Des Moines has distributed more than $424 million in competitive grants for the rehabilitation and construction of over 77,000 homes.
For a complete listing of 2016 Competitive Affordable Housing Program grant recipients, please visit the FHLB Des Moines website. For more information, contact the Bank’s Community Investment Department by calling 800.544.3452, ext. 1173.