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Home Loan Bank Awards More Than $5.9 Million in Grants; Missouri Affordable Housing Projects Receive $1,062,700.



DES MOINES, Iowa “Des Moines” redirects here. For other uses, see Des Moines (disambiguation).
Des Moines (pronounced /dɪˈmɔɪn/ in English,
, Jan. 11 /PRNewswire/ -- The Federal Home Loan Bank of Des Moines Des Moines, city, United States
Des Moines (dĭ moin`), city (1990 pop. 193,187), state capital and seat of Polk co., S central Iowa, at the junction of the Des Moines and Raccoon rivers; inc.
 has awarded $1,062,700 in Affordable Housing Program grants to seven housing initiatives in Missouri. Since the program's inception in 1990, the Bank has awarded 86 Missouri projects more than $10.2 million, impacting 3,821 affordable housing units.

"The Affordable Housing Program continues to be an important vehicle for many of our members to address their community's housing needs," said Pat Conway, president of the Federal Home Loan Bank. "This is a program built on valuable relationships among our Bank, our members and their community organizations."

In partnership with member financial institutions and local development organizations, the Home Loan Bank helps finance affordable housing through Affordable Housing Program grants, which are awarded twice a year on a competitive basis. Successful projects are dedicated to the purchase, rehabilitation or construction of owner-occupied or rental homes that benefit very low, low and moderate income households. Other priorities include permanent housing for the homeless and the purchase, rehabilitation or construction of housing sponsored by a nonprofit, state or local government, local housing authority or Native American Tribe.

"Although we have a number of metropolitan areas in our district, the majority of our member financial institutions are located in smaller communities or rural areas," Conway said. "In fact for this round, approximately 71 percent of all the awarded projects were located in a rural area. For these communities, we are pleased to provide a tool in helping find a solution for housing needs."

Nearly 66 percent, or 25 of the 38 projects, were homeownership related. In Missouri, 57 percent of the projects, or four of the seven projects were homeownership related. For example, projects in Bowling Green Bowling Green.

1 City (1990 pop. 40,641), seat of Warren co., S Ky., on the Barren River; inc. 1812. It is a shipping and marketing center for an area producing tobacco, corn, livestock, and dairy items.
, sponsored by the Bank of Cairo and Moberly and North East Community Action Corp., and in Cape Girardeau Cape Girardeau (jĭrär`dō, jērərdō`), city (1990 pop. 61,633), Cape Girardeau co., SE Mo., overlooking the Mississippi River; founded 1793, inc. as a city 1843. , sponsored by the city and Wood & Huston Bank, will be directed towards the rehabilitation needs to homes in both communities. In St. Louis, Mercantile Bank and the Justine Petersen Housing and Redevelopment Corp. teamed up to assist 59 families under 50 percent of the area median income with downpayment, rehabilitation and closing costs Closing Costs

The numerous expenses (over and above the price of the property) that buyers and sellers normally incur to complete a real estate transaction. Costs incurred include loan origination fee, discount points, appraisal fee, title search, title insurance, survey, taxes,
.

The Wood & Huston Bank co-sponsored another grant with the Habitat for Humanity Habitat for Humanity, nonprofit ecumenical Christian organization that enables low-income people to own affordable, livable housing. Headquartered in Americus, Ga., it was founded in 1976 by businessman Millard Fuller and his wife.  of Saline County Saline County is the name of several counties in the United States:
  • Saline County, Arkansas
  • Saline County, Illinois
  • Saline County, Kansas
  • Saline County, Missouri
  • Saline County, Nebraska
 to build one single family home in Marshall.

The Affordable Housing Program also supports rental projects that target a specific segment of the population. For example, $355,200 in Affordable Housing Program grants will be used for three Missouri projects targeting transitional living. These projects include the Benilde Hall Transitional Living project in Kansas City Kansas City, two adjacent cities of the same name, one (1990 pop. 149,767), seat of Wyandotte co., NE Kansas (inc. 1859), the other (1990 pop. 435,146), Clay, Jackson, and Platte counties, NW Mo. (inc. 1850). , which provides shelter to homeless men with substance abuse problems. In Sikeston, the Fresh Start Transitional Housing project will rehabilitate 15 single family homes for transitional housing, and in Richland, the Bank of Crocker and Missouri Ozarks Community Action partnered to rehabilitate two duplexes to be used as transitional homes for the homeless Homes for the Homeless is an organization which provides housing and employment trainining for homeless people in New York City. It was founded in 1986 through a collaboration with Leonard N. Stern, the Cathedral of St. John the Divine, and the city of New York. .

"These are all meaningful projects because they will address currently unmet housing needs," Conway said. "Each project has a unique story about how everything came together, but each of them can be replicated in other areas of our five-state district because fundamentally they are similar. Each project is the result of many segments working together to find an innovative solution to a community problem. That is what the Affordable Housing Program is about -- partnerships that find solutions."

In the Bank's five-state district of Iowa, Minnesota, Missouri, North Dakota North Dakota, state in the N central United States. It is bordered by Minnesota, across the Red River of the North (E), South Dakota (S), Montana (W), and the Canadian provinces of Saskatchewan and Manitoba (N).  and South Dakota South Dakota (dəkō`tə), state in the N central United States. It is bordered by North Dakota (N), Minnesota and Iowa (E), Nebraska (S), and Wyoming and Montana (W). , total grants amounted to more than $5.9 million, which includes no taxpayer dollars. This money will fund construction, rehabilitation and downpayment and closing cost assistance for 1,040 units of affordable housing for families below 80 percent of the area median income. Total development costs in the region exceeded $37 million.

Of 108 applications submitted for the second round of 1999, 38 received funding. Since beginning the program in 1990, the Home Loan Bank of Des Moines has awarded nearly $57 million for 18,522 units of affordable housing. The 524 projects winning grants have amounted to nearly $1 billion in development costs.

The statewide breakdown of grants is as follows. For a complete list of individual projects, please see the attached.
                              Project   Grants           Total    Development
                                                         Units    Costs

    Iowa                        10    $1,117,030          138    $3,481,532
    Minnesota                   11    $1,722,000          337   $22,453,190
    Missouri                     7    $1,062,000          246    $5,819,785
    North Dakota                 5    $1,246,000          181    $8,518,474
    South Dakota                 4      $738,700          133    $2,549,582
    Out of District              1       $20,200            5      $368,353
    Total                       38    $5,906,630        1,040   $43,190,862


For more information about the Affordable Housing Program and the next competitive round, contact the Home Loan Bank at 800-544-3452, ext. 1173. Attached is a complete listing of recipients by state.

The Federal Home Loan Bank of Des Moines is a AAA-rated wholesale bank that provides low-cost short and long-term funding and community lending to nearly 1,100 stockholder commercial banks, saving institutions, credit unions and insurance companies. The Home Loan Bank enhances the competitiveness and financial strength of community-based financial institutions by ensuring they have adequate liquidity to meet the housing finance and community credit needs of neighborhoods across the nation.

1999 Affordable Housing Program Grant Recipients

Illinois (Missouri member received the grant)

Alton

Piasa Area Habitat for Humanity

Member: Mercantile Bank, N.A.

Sponsor: Piasa Area Habitat for Humanity

5 units of single family homeownership units

$20,200

Iowa

Atlantic

Cass County Cass County is the name of nine counties in the United States:
  • Cass County, Illinois
  • Cass County, Indiana
  • Cass County, Iowa
  • Cass County, Michigan
  • Cass County, Minnesota
  • Cass County, Missouri
  • Cass County, Nebraska
  • Cass County, North Dakota
 Housing Rehab Program

Member: Rolling Hills Rolling hills are like a mountain chain, only a "hill chain" of hills that roll on and on continually. You will often find them in between plains and mountains, near major rivers, or randomly anywhere. The only places without rolling hills are deserts and flood plains.  Bank & Trust

Sponsor: Cass Atlantic Development Corporation

20 single family homeownership units

$300,000

Dubuque

Maria House

Member: Dubuque Bank and Trust Dubuque Bank & Trust is a bank that is headquartered in Dubuque, Iowa, United States. The bank is one of several banks owned by Dubuque-based Heartland Financial USA, Inc. Branch locations

Dubuque
  • 1398 Central Ave.
  • 2690 Rockdale Rd.
  • 500 N.
 Co.

Sponsor: Opening Doors

18 multi-family rental units

$291,500

Iowa City Iowa City, city (1990 pop. 59,738), seat of Johnson co., E Iowa, on both sides of the Iowa River; founded 1839 as the capital of Iowa Territory, inc. 1853. Among its manufactures are foam rubber, animal feed, paper, and food products. The city is the seat of the Univ.  

Successful Living Supportive Housing Supportive housing is designed to support individuals, not just socially but with basic life skills. Housing is coupled with social services such as job training, alcohol and drug abuse programs and case management.  Project

Member: Hills Bank and Trust Company

Sponsor: Successful Living

20 multi-family rental units

$104,000

Oxford Junction

Oxford Junction Housing Rehab Program

Member: Citizens State Bank

Sponsor: City of Oxford Junction

5 single family homeownership units

$15,000

Pella

Brookview Acres

Member: Iowa State Savings Bank savings bank, financial institution that, until recently, performed only the following functions: receiving savings deposits of individuals, investing them, and providing a modest return to its depositors in the form of interest.  

Co-sponsor: Habitat for Humanity of Marion County

3 single family homeownership units

$96,600

Sibley

Sibley Senior Citizen Housing

Member: Northwest Federal Savings Bank Noun 1. federal savings bank - a federally chartered savings bank
FSB

savings bank - a thrift institution in the northeastern United States; since deregulation in the 1980s they offer services competitive with many commercial banks
 

22 multi-family rental units

$131,230

Stanwood

Stanwood Housing Rehab Housing Program

Member: Community State Bank

Sponsor: City of Stanwood

5 single family homeownership units

$15,000

Wyoming

Wyoming Housing Rehab Program

Member: Citizens State Bank

Sponsor: City of Wyoming

5 single family homeownership units

$15,000

Various Sites

Hope Haven Hope Haven International is a 501(c)(3) charity organization[1] based in Rock Valley, Iowa, that is best known for its United States and international distribution of refurbished wheelchairs for adults and children.  Rehabilitation

Member: Peoples Bank

Sponsor: Hope Haven Inc.

15 single family rental units

$48,700

Region XII COG Homeownership Assistance Program

Member: Iowa Savings Bank

Sponsor: Region XII Council of Governments

25 single family homeownership units

$100,000

Minnesota

Heron Lake Heron Lake can refer to: Cities, towns, townships, etc
  • Heron Lake: a town in Jackson County, Minnesota
Lakes
  • Heron Lake: any of several lakes in Jackson County, Minnesota
 

City of Heron Lake Housing Rehab

Member: Community First National Bank

Sponsor: Southwest Minnesota Housing Partnership

18 single family homeownership units

$72,000

Mankato

House of Hope

Member: Norwest Bank Minnesota, NA

Sponsor: House of Hope

26 multi-family rental units

$240,000

Marshall

City of Marshall Housing Rehab

Member: Community First National Bank

Sponsor: Southwest Minnesota Housing Partnership

8 single family homeownership units

$32,000

Minneapolis

251 Portland Avenue South

Member: Western Bank

Sponsor: People Serving People, Inc.

99 multi-family rental units

$499,000

Mountain Lake

City of Mountain Lake Housing Rehab

Member: United Prairie Bank

Sponsor: Southwest Minnesota Housing Partnership

18 single family homeownership units

$72,000

Okabena

City of Okabena Housing Rehab

Member: United Prairie Bank

Sponsor: Southwest Minnesota Housing Partnership

21 single family homeownership units

$84,000

Pipestone pipestone, hard, dull red or mottled pink-and-white clay stone, carved by Native Americans into pipes. Called calumets (see calumet) the pipes were used extensively in ceremonials.  

City of Pipestone Housing Rehab

Member: The First National Bank and Trust

Sponsor: Southwest Minnesota Housing Partnership

18 single family homeownership units

$72,000

Round Lake

City of Round Lake Housing Rehab

Member: United Prairie Bank

Sponsor: Southwest Minnesota Housing Partnership

15 single family homeownership units

$60,000

Woodstock

City of Woodstock Housing Rehab

Member: The First National Bank and Trust

Sponsor: Southwest Minnesota Housing Partnership

12 single family homeownership units

$48,000

Various Sites

Chippewa Housing Rehabilitation

Member: Minnwest Bank Central

Sponsor: Southwest Minnesota Housing Partnership

12 single family homeownership units

$48,000

Habitat for Humanity of Minnesota

Member: Bremer Bank, National Association

Sponsor: Habitat for Humanity of Minnesota

90 single family homeownership units

$495,000

Missouri

Bowling Green

Housing Preservation

Member: Bank of Cairo and Moberly

Sponsor: North East Community Action Corporation

100 single family homeownership units

$300,000

Cape Girardeau

Southeast Neighborhood Restoration

Member: Wood & Huston Bank

Sponsor: City of Cape Girardeau

30 single family homeownership units

$150,000

Marshall

Habitat for Humanity - Owens Home

Member: Wood & Huston Bank

Sponsor: Habitat for Humanity of Saline County

1 single family homeownership unit

$10,000

Kansas City

Benilde Hall Transitional Living

Member: Mercantile Bank, N.A.

Sponsor: Benilde Hall, Inc.

46 multi-family rental units

$300,000

Richland

Missouri Ozarks Community Action

Member: Bank of Crocker

Sponsor: Missouri Ozarks Community Action

4 single family rental units

$100,000

St. Louis

Firstar/Petersen AHP AHP Assistant House Physician.  Partnership

Member: Mercantile Bank, N.A.

Sponsor: Justine Petersen Housing and Redevelopment Corp.

59 single family homeownership units

$147,500

Sikeston

Fresh Start Transitional Housing

Member: Montgomery First National Bank

Sponsor: Delta Area Economic Opportunity Corp.

6 single family rental units

$55,200

North Dakota

Bismarck

Crescent Manor

Member: Norwest Bank North Dakota

Sponsor: Burleigh County Housing Authority

119 multi-family rental units

$499,000

Bismarck/Mandan

Christmas in April

Member: Bank Center First

Sponsor: Christmas in April

4 single family homeownership units

$10,000

Fort Totten

Relocation of Duplex Units

Member: Western State Bank

Sponsor: Spirit Lake Sioux Tribe

28 single family rental units

$462,000

Fort Totten

Spirit Lake Rehabilitation

Member: Western State Bank

Sponsor: Spirit Lake Sioux Tribe

15 single family homeownership units

$50,000

Various Sites

Churchs Ferry Homebuyer Assistance

Member: United Community Bank of ND

Sponsor: Dakota Prairie Community Action Agency

15 single family homeownership units

$225,000

South Dakota

Sioux Falls

Prairie Freedom Center

Member: Home Federal Savings Bank

Sponsor: Prairie Freedom Center for Independent Living

10 single family homeownership units

$100,000

Sisseton

AHP Rehab

Member: Marquette Bank of SD, N.A.

Sponsor: Northeast South Dakota Community Action Program

25 single family homeownership units

$99,000

Wagner

Krismar Villa Apartments

Member: Security National Bank of Sioux City

Sponsor: Lutheran Social Services

22 multi-family rental units

$59,700

Various Sites

TC Rental Rehabilitation Project

Member: Norwest Bank South Dakota

Sponsor: Rosebud Housing Authority

76 single family rental units

$480,000
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Date:Jan 11, 2000
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