FHLB Des Moines Awards $46 Million in Affordable Housing Grants to Benefit 60 Projects

last updated on Monday, December 11, 2023 in Community News

The Federal Home Loan Bank of Des Moines (FHLB Des Moines) is pleased to announce the recipients of its 2023 Competitive Affordable Housing Program (AHP) awards. Through a collaborative effort between 43 FHLB Des Moines member financial institutions and local housing organizations, more than $46 million will be awarded to 60 affordable housing projects impacting over 2,300 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 and the homeless. Nine of the 60 AHP projects are Native Housing Projects impacting Native American and Alaska Native households.

“For more than 90 years, FHLB Des Moines has invested in helping communities grow and prosper. We are proud to partner with our member financial institutions to fulfill that commitment,” said Kris Williams, President and CEO, FHLB Des Moines. “We are also happy to say that in 2023, we gave $25 million in an addition to 10 percent of our earnings back to our members to invest in their communities and the people they serve. Thanks to the vision and dedication of our members and local housing sponsors, we are able to have a direct and positive impact.”

FHLB Des Moines and its 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 has given approximately $735 million in AHP awards to help more than 92,000 families and individuals find safe and affordable housing.

For a complete listing of 2023 Competitive Affordable Housing Program grant recipients, click here.

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The Federal Home Loan Bank of Des Moines is deeply committed to strengthening communities, serving 13 states and three U.S Pacific territories as a member-owned cooperative. We work together with over 1,200 member institutions to support affordable housing, economic development and community improvement.

FHLB Des Moines is one of 11 regional Banks that make up the Federal Home Loan Bank System. Members include community and commercial banks, credit unions, insurance companies, thrifts and community development financial institutions. The Des Moines Bank is wholly owned by its members and receives no taxpayer funding. For additional information about FHLB Des Moines, please visit www.fhlbdm.com. Follow us on Twitter and visit us on Facebook and LinkedIn.

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