$1.5 Million in Affordable Housing Grants Awarded to Fargo Organizations
posted on Friday, October 6, 2017 in Community News
(Fargo, North Dakota) – Senator Heidi Heitkamp and three Fargo area community partners gathered on Friday, October 6 at the Fargo Public Library to celebrate $1.5 million in affordable housing grants. The grants, which were awarded by the Federal Home Loan Bank of Des Moines (FHLB Des Moines) through its Competitive Affordable Housing Program (AHP), will provide safe and affordable housing to over 250 families in Fargo.
“North Dakota families, seniors and individuals who are struggling need safe places to call home,” said Senator Heitkamp. “It's an honor to present organizations in our Fargo community that are committed to that mission with the support they need.”
Through partnerships with member financial institutions and community housing partners, FHLB Des Moines awarded:
- $1 million to Fargo Housing and Redevelopment Authority for two housing projects (New Horizons and Pioneer Manor) through Bell Bank
- $500,000 to New Life Center through Bell Bank
“By supporting our most vulnerable with the wrap-around services they need to heal, and equipping them with the job training to reemerge healthier and stronger in our community, New Life Center is providing the transitional housing and support to so many in our community,” Senator Heitkamp stated. “And at New Horizons and Pioneer Manor – our seniors, those with disabilities, and families in poverty can find stable, affordable homes where they and their children can sleep safely at night.
Each year, FHLB Des Moines returns 10 percent of its net income to communities throughout its district, consisting of 13 states and three U.S. Pacific territories. Since the inception of AHP in 1990, FHLB Des Moines has awarded $14.7 million for housing in the state of North Dakota to assist more than 2,500 homeowners.
“Through these grants, our members and non-profit partners are providing families and individuals in need with affordable housing opportunities,” said Mike Wilson, president and CEO, FHLB Des Moines. “That housing, in turn, lends strength to the communities in which they live. These housing needs are met through the work of local lenders who partner with FHLB Des Moines to provide these important dollars without taxpayer funding.”
AHP dollars are an important form of gap funding for a variety of projects, as the grants are often combined with other federal and local dollars.
“In the U.S. Senate, I’ve been working on solutions and support for programs that help our families, seniors, and others in need find housing they can afford – because the foundational strength of all of our North Dakota communities starts at home,” added Senator Heitkamp. “The Federal Home Loan Bank’s Affordable Housing program provides much needed investment in our communities.”
- Affordable Housing Program
- Community Investment
- Public Policy