BigNews.Biz - May 06,2012 - Johnson Attends Affordable Housing Event
Senator presents Aberdeen housing group with $498,000 grant
ABERDEEN, SD – U.S. Senator Tim Johnson (D-SD), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, attended an affordable housing event with Dacotah Bank and the Federal Home Loan Bank of Des Moines (FHLB), and presented a check for $498,000 to the Aberdeen-based nonprofit group Homes Are Possible Inc.
“These funds will help South Dakota families rehabilitate their homes, to make sure they can raise their children in safe and healthy environments. Homes Are Possible Inc., Dacotah Bank and FHLB Des Moines deserve a lot of credit for their generosity and hard work over the past decade. Rehabilitating houses helps increase property value for homeowners, improves neighborhoods, and boosts local economies. This partnership has already benefited 900 South Dakotans and I am confident it will continue its great work well into the future,” said Senator Johnson.
“The Affordable Housing Program works because communities, like Aberdeen, are able to determine their own housing needs and create solutions that work for them,” said Dan Clute, senior vice president, FHLB Des Moines. “The benefits of $4.0 million in grants to Dacotah Bank and HAPI extend beyond providing a home for families – the program ensures affordable housing for future generations, creates jobs and stimulates economic growth.”
The funds were provided by the Federal Home Loan Bank of Des Moines, as part of their Affordable Housing Program (AHP) to create safe and affordable homes for families and individuals across South Dakota.
Eight South Dakota organizations received a total of $2.9 million for affordable housing in FHLB Des Moines’ latest grant round, and over 318 homes across the state will be rehabilitated. Projects in South Dakota have received over $20 million since the creation of the Affordable Housing Program. The grants are privately-funded by FHLB’s earnings, and no taxpayer funds are involved.