Nearly $1 Million in Affordable Housing Grants Awarded to Jefferson City Organizations
posted on Wednesday, February 21, 2018 in Community News
(Jefferson City, Missouri) –Two Jefferson City community partners celebrated nearly $1 million in housing grants through the Federal Home Loan Bank of Des Moines (FHLB Des Moines) Competitive Affordable Housing Program (AHP) on Friday, February 21. Congressman Blaine Luetkemeyer was on-hand to make the announcement, which will help 95 area families find safe and affordable housing.
“Thanks to the work of FHLB of Des Moines, the Housing Authority of Jefferson, and Greenway Village Inc. 95 families in Mid-Missouri will have new or improved homes,” said Congressman Luetkemeyer. “The nearly $1 million in investments will provide a good boost to the local economy and give these families the much needed comfort of a stronger roof over their heads and a safe place to call home. I appreciate FHLB Des Moines inviting me to be a part of this event and look forward to working with them to help even more Missourians in the future.”
Through partnerships with member financial institutions and community partners, FHLB Des Moines awarded:
- $750,000 to Housing Authority of Jefferson City, MO to assist 83 families
- $160,800 to Greenway Village, Inc. to assist 12 families
Both the Housing Authority of Jefferson City, MO and Greenway Village, Inc. serve low-income elderly and disabled persons. The Housing Authority of Jefferson City, MO will rehabilitate an 83-unit, high-rise complex by compleletly replacing the sewer line in the building and updating the kitchens in every unit. Greenway Village, Inc. will be using their grant to overhaul the exterior features (slab foundation, roof, and driveway) and interior features (kitchen cabinetry, hood ranges, faucet control) of their 12-unit complex.
FHLB Des Moines returns 10 percent of its net income annually to assist with housing needs throughout its district, consisting of 13 states and three U.S. Pacific territories. Since the inception of the program in 1990, FHLB Des Moines has awarded $74.1 million for housing in the state of Missouri to benefit more than 15,300 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