FHLB Des Moines Awards $41.3 Million in Affordable Housing Grants to Benefit 63 Projects

last updated on Monday, December 14, 2020 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 2020 Competitive Affordable Housing Program awards. Through a collaborative effort between financial institutions and local housing organizations, approximately $41.3 million will be awarded to 63 affordable housing projects across FHLB Des Moines 13-state district.

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 youth.

“Our members understand the importance of addressing the dire need for affordable housing in their communities, particularly during this especially challenging COVID-19 environment,” said Kris Williams, President and CEO of FHLB Des Moines. “Thanks to the continued support of our member institutions, the Affordable Housing Program has financed the development of thousands of accessible housing units for three decades. This is a significant impact, and we are looking forward to continuing this positive momentum for decades to come.”

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 over $740 million in Affordable Housing Program awards to help more than 120,000 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 2020 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
  2. Community Investment Programs