FHLB Des Moines Awards $25 Million in Affordable Housing Grants to Benefit 42 Projects

last updated on Monday, December 12, 2022 in Community News

The Federal Home Loan Bank of Des Moines (FHLB Des Moines or the Bank) is pleased to announce the recipients of its 2022 Competitive Affordable Housing Program awards. Through a collaborative effort between FHLB Des Moines member financial institutions and local housing organizations, more than $25 million will be awarded to 42 affordable housing projects across the Bank’s 13-state district, impacting over 1,500 families and individuals.

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.

“For 90 years, FHLB Des Moines has been invested in helping communities grow and prosper,” said Kris Williams, President and CEO of FHLB Des Moines. “We are also committed to creating financial pathways to more affordable housing for families and individuals in need across our district. ”

FHLB Des Moines member financial institutions play a critical role in meeting the affordable housing needs of their communities. Since the program’s inception in 1990, FHLB Des Moines members have partnered with housing organizations to invest nearly $815 million in Affordable Housing Program awards to help more than 121,000 families and individuals 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 2022 Competitive Affordable Housing Program grant recipients, click here.

Learn more about how FHLB Des Moines makes an impact in its member communities.

  1. Affordable Housing Program