FHLB Des Moines Awards More Than $40 Million in Affordable Housing Grants to Benefit 67 Projects

last updated on Monday, December 13, 2021 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 2021 Competitive Affordable Housing Program awards. Through a collaborative effort between FHLB Des Moines member financial institutions and local housing organizations, more than $40 million will be awarded to 67 affordable housing projects across the Bank’s 13-state district, impacting over 2,100 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.

“FHLB Des Moines and our members understand the importance of addressing the dire need for affordable housing, particularly as we continue to face the challenges presented by the pandemic,” said Kris Williams, President and CEO of FHLB Des Moines. “We applaud the efforts of those involved and look 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 nearly $790 million in Affordable Housing Program awards to help more than 124,000 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 2021 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