WASHINGTON, D.C. – April 4, 2013 – (RealEstateRama) — U.S. Senator Tim Johnson (D-SD), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, announced $1.9 million in grants for South Dakota organizations from the Federal Home Loan Bank (FHLB) of Des Moines. In an event at Carnegie Town Hall in Sioux Falls, Senator Johnson congratulated the recipients and highlighted the economic and humanitarian impact the funds will have. The grants will be used to rehabilitate and repair hundreds of properties across the state, helping South Dakota families raise their children in safe and healthy environments.
“These funds will help South Dakota families rehabilitate their homes, to build a strong foundation for their children’s future, and to strengthen and stabilize the neighborhoods where they live. Rehabilitating houses helps increase property value for homeowners, improves neighborhoods, and boosts local economies. The Federal Home Loan Bank of Des Moines and all of these dedicated housing organizations deserve a lot of credit for the work they do for families and communities across this state,” said Senator Johnson.
“As the economy impacts South Dakota families, home maintenance is one of the first expenses to fall by the wayside. The Affordable Housing Program grants will help stabilize housing stock, in turn stabilizing communities,” said Van Fishback, director, FHLB Des Moines.
Seven organizations statewide will receive a total of $1.9 million in funding, including nearly $300,000 for the City of Sioux Falls’ Department of Community Development. That grant will provide up to $7,500 in home repairs for eligible families, to replace roofs, update plumbing, and install energy-efficient windows and improved electrical systems in fifty Sioux Falls homes.
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. 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.
Affordable Housing Program (AHP) Grant Recipient Organizations
Western Resources for the dis-ABLED Independence – Rapid City
WRDI will receive $250,000 to provide 25 disabled homeowners with funds to make accessibility modifications and renovations. The organization has seen a growing number of requests for services as other funding sources become unavailable. The grant is supported by BankWest, Inc.
Homes Are Possible, Inc. – Aberdeen
HAPI Inc. will use a $300,000 grant to provide vital repairs to 50 homes, making them safer and more affordable. Repairs include major work on roofs, plumbing and electrical systems and HVAC equipment. The grant is sponsored by Dacotah Bank.
Oglala Sioux Lakota Housing – Pine Ridge
Oglala Sioux Lakota Housing will receive $166,390 to repair and improve seven homes for elderly residents on the Pine Ridge Reservation. This grant is also sponsored by Dacotah Bank.
Sisseton Wahpeton Housing Authority – Sisseton
The Sisseton Wahpeton Housing Authority will receive $300,000 to help 30 homeowners on the Lake Traverse Reservation. The recipients, all tribal members, will receive assistance in either making structural repairs or improving accessibility. This grant is also sponsored by Dacotah Bank.
GROW South Dakota – Sisseton
GROW South Dakota and Peoples State Bank received two grants totaling nearly $540,000 that will fund two programs designed to strengthen 75 low-income households by improving energy efficiency. Projects include replacing siding or shingles, improving mechanical systems, and structural repairs.
NeighborWorks Dakota Home Resources – Deadwood
Sentinel Federal Credit Union supported a $120,000 grant that will partially fund an owner occupied rehab project in western South Dakota. The funds will help 30 homeowners in the Deadwood area.
City of Sioux Falls Department of Community Development
The First National Bank of Sioux Falls supported a $272,000 home improvement grant for the city’s Department of Community Development. The grant will provide up to $7,500 in home repairs for eligible families, to replace roofs, update plumbing, and install energy-efficient windows and improved electrical systems in 50 Sioux Falls homes.