Two of the 16 projects are in Washington County. Riverside Senior Village received $110,000 for energy efficiency improvements to 28 senior affordable apartments, through FHLB partner Freedom Security Bank in Kalona. Village manager, Don Yoder prepared the FHLB application. The Village was originally financed by the USDA 35 years ago.
The second grant was $58,000 to Washington County for assisting 10 households with home ownership, including rehab assistance. This grant application was prepared by the East Central Iowa Council of Governments (ECICOG), through FHLB partner Federation Bank in Washington. Washington County has received FHLB AHP funding for the past several years.
In addition to these two projects in Washington County, there were an additional 5 FHLB grants in the 6-County ECICOG region. This is a remarkable achievement!
"The FHLB Des Moines Affordable Housing Program provides private funding for the acquisition, construction or rehabilitation of lower-income affordable housing units. Each year FHLB Des Moines commits 10 percent of its annual net income to developing affordable housing. This year, $16.3 million was awarded to 57 projects [in 5 states]."
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