$51.5 Million in Affordable Housing Grants to Benefit More Than 2,600 Families and Individuals
last updated on Monday, December 16, 2019 in Community News
A collaborative effort between financial institutions and community housing providers will create affordable housing opportunities for more than 2,600 low-income families and individuals this holiday season. Fifty-two financial institutions helped facilitate $51.5 million in Competitive Affordable Housing Program grants through the Federal Home Loan Bank of Des Moines (FHLB Des Moines or the Bank).
From construction of new affordable housing to the rehabilitation of existing homes and rental properties, the funds will benefit low-income families, seniors, persons with disabilities, homeless and at-risk youths.
"FHLB Des Moines is proud of the work our members do each and every day to build strong communities," said Mike Wilson, President and CEO of FHLB Des Moines. "We are committed to providing funding and affordable housing solutions to help meet their local needs."
The Competitive Affordable Housing Program encourages partnerships between FHLB Des Moines member financial institutions and local housing organizations throughout the Bank’s district, consisting of 13 states and three U.S. Pacific territories.
Since the inception of the Affordable Housing Program in 1990, FHLB Des Moines member financial institutions have been awarded over $685 million in grants to help more than 115,000 families and individuals in find safe and affordable housing.
Every year, FHLB Des Moines returns 10 percent of its net income to benefit communities in its district.
For a complete listing of 2019 Competitive Affordable Housing Program recipients, click here. For more information, contact the Bank’s Community Investment Department by calling 800.544.3452, ext. 2400.
- Affordable Housing Program