May 11, 2024
Truman Heritage Habitat for Humanity’s Home Preservation Program is pleased to announce it has been selected to receive a $750,000 grant from the Federal Home Loan Bank of Des Moines (FHLB Des Moines) through the Competitive Affordable Housing Program (AHP). The AHP provides down payment assistance, building or rehabilitation funds to organizations working to provide affordable housing options in their communities.
Truman Habitat’s Home Preservation Program worked with Blue Ridge Bank and Trust on funding the Home Preservation Program over 15 years and has been a dedicated community partner and advocate for affordable housing.
The Home Preservation program helps aging adults and veterans with minor and critical home repairs. Improving accessibility for families and individuals in Eastern Jackson County is our key purpose. The most common projects include ADA-compliant bathrooms, upgrading HVAC and electrical systems.
“We have a long list of names who qualify for the Home Preservation Program. This money will go a long way to alleviate some of the housing burdens our veterans and aging adults face.” said Marikate Sears, Program Manager at Truman Habitat.
FHLB Des Moines’ competitive AHP encourages collaboration between member financial institutions and housing organizations to create affordable housing solutions for families in need. Since its inception in 1990, FHLB Des Moines and its members have helped facilitate approximately $735 million in funding to benefit more than 92,000 families through new construction and rehabilitation of owner-occupied or rental housing.
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. This year, 60 projects totaling more than $46 million were awarded through the AHP. Five million dollars of the $46 million were voluntarily contributed. Additionally, FHLB Des Moines voluntarily donated another $20 million in 2023 to community development in targeted areas of its district.
“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 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.”
