Local Partnership Recognized for Providing Housing to Nearly 200 Individuals in St. Paul
posted on Friday, October 27, 2017 in Community News
(St. Paul, Minnesota) Congresswoman Betty McCollum joined Sunrise Banks, Catholic Charities of St. Paul and Minneapolis, and the Federal Home Loan Bank of Des Moines (FHLB Des Moines) on Friday, October 27 to celebrate a bold new vision to prevent and end homelessness. Through partnerships with member financial institutions and community housing partners, such as Sunrise Banks and Catholic Charities of St. Paul and Minneapolis, FHLB Des Moines awarded $500,000 to the recently completed Higher Ground Saint Paul to help support nearly 200 permanent housing units.
In addition to presenting Catholic Charities of St. Paul and Minneapolis with the award, Congresswoman McCollum and community housing leaders toured the facility, which offers dignified shelter, permanent housing and a pathway out of poverty.
"Our community has a critical need for safe and supportive housing", said Congresswoman McCollum. "Higher Ground Saint Paul is an excellent example of the faith community bringing the public and private sectors together to provide a warm place to sleep and a pathway toward a stable home for people experiencing homelessness".
Higher Ground Saint Paul opened in January, 2017 and is the first phase of Dorothy Day Place, a two-phase initiative to prevent and end homelessness.
"Higher Ground Saint Paul would not be possible without the support of strong partnerships," said Tim Marx, president and chief executive officer, Catholic Charities of St. Paul and Minneapolis. "Private sector leaders along with public officials from all political backgrounds supported critical investments in the project, making this the largest public-private partnership in housing and social services in Minnesota history. Thanks to the community's long-term investment in preventing and ending homelessness, many of our most vulnerable neighbors are able to move from homelessness to home."
As part of its Competitive Affordable Housing Program (AHP), FHLB Des Moines returns 10 percent of its net income annually to communities throughout its district, consisting of 13 states and three U.S. Pacific territories. Since the inception of AHP in 1990, FHLB Des Moines has awarded $94.5 million for housing in the state of Minnesota to assist more than 18,600 homeowners.
"Through these grants, our members and non-profit partners are providing families and individuals in need with affordable housing opportunities," said Mike Wilson, president and CEO, FHLB Des Moines. "That housing, in turn, lends strength to the communities in which they live. These housing needs are met through the work of local lenders who partner with FHLB Des Moines to provide these important dollars without taxpayer funding."
AHP dollars are an important form of gap funding for a variety of projects, as the grants are often combined with other federal and local dollars.
- affordable housing program
- community investment
- public policy