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Apartment complex receives federal home loan

Pleasant View Apartments will receive $331,725 from Federal Home Loan Bank of Des Moines to rehabilitate a 32-unit rental property for senior citizens. Through the Bank’s Strong Communities Fund (SCF), New Era Bank and Pleasant View Apartments partnered to receive Competitive Affordable Housing Program (AHP) funds which will assist with much needed household repairs and improvements.

“The board of directors and I are pleased to announce we will be updating Pleasant View Apartments,” said Kayla Botkin, manager, Pleasant View Apartments. “The money will be used to put in central heat and air and new windows, improving accessibility for the tenants throughout the complex.”

Forty-three AHP grants totaling nearly $14 million were awarded by FHLB Des Moines during the 2013 Competitive Affordable Housing Program round.

“The Competitive Affordable Housing Program is about building strong communities,” said Dick Swanson, president and CEO, FHLB Des Moines. “Communities, in partnership with local financial institutions and non-profit organizations, determine their own housing needs and create solutions that are right for them.”

The Competitive AHP was designed to help FHLB Des Moines member financial institutions and their community partners develop affordable housing for low- to moderate-income households. Each year FHLB Des Moines commits 10 percent of its annual net income to developing affordable housing. Since 1990, the Bank has awarded $57.7 million through its Strong Communities Fund housing programs to create 12,238 homeownership and rental units in the state of Missouri.

For more information about FHLB Des Moines Strong Communities Fund and its Competitive Affordable Housing Program, contact the Bank’s Community Investment Department at 800.544.3452, ext. 1173 or visit http://www.fhlbdm.com/strong-communities-fund/.

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