People’s Bank of Seneca and Wheaton Local Housing Authority partner to
receive $347,899 to support affordable housing.
Joplin, Missouri –People’s Bank of Seneca has partnered with Wheaton Local Housing Authority to help local families find a safe and affordable place to call home. This is a result of more than $347,899 in grants awarded to People’s Bank of Seneca and its partners through the Federal Home Loan Bank of Des Moines (FHLB Des Moines) Competitive Affordable Housing Program.
“The need for affordable housing is more necessary than ever, not only for those who rely on this housing, but for neighborhoods that need the community benefits of affordable housing.” Deron Burr, President/CEO People’s Bank of Seneca. We would like to extend our appreciation to Lea Ann Christopher, Grant Writer and Mike Landers, President with Bell Management. The property features 20 apartments for individuals over 62 or handicapped/disabled.
The Affordable Housing Program encourages collaboration between financial institutions and housing organizations to create affordable housing solutions for families in need. Since its inception in 1990, FHLB Des Moines members have helped facilitate more than $740 million in funding to benefit over 120,000 families through new construction and rehabilitation of owner-occupied or rental housing, as well as down payment and closing cost assistance.
“Here at FHLB Des Moines, our ultimate goal is to strengthen the communities we serve, and through our Affordable Housing Programs grants, we are able to do just that,” said Kris Williams, president and CEO, FHLB Des Moines. “Thanks to 30 years of partnership between the Bank, our member financial institutions, such as People’s Bank of Seneca and local housing sponsors, we directly and positively impact the communities we serve.”
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. Affordable Housing Program 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.
About Federal Home Loan Bank of Des Moines
The Federal Home Loan Bank of Des Moines is deeply committed to strengthening communities, serving 13 states and three U.S Pacific territories as a member-owned cooperative. We work together with our nearly 1,350 member institutions to support.