Two affordable housing entities in and near Jefferson City received nearly $1 million combined in grants to help improve housing.
The Federal Home Loan Bank of Des Moines partnered with Hawthorn Bank to award $750,000 to the Jefferson City Housing Authority on Wednesday.
FHLB Des Moines also partnered with The Central Trust Bank to award Greenway Village Inc. in Holts Summit $160,800.
FHLB Des Moines — a member-owned cooperative partners with financial institutions in multiple states — provided the funds through its Competitive Affordable Housing Program. The program helps projects serve low- to moderate-income households.
"In the last 25 years, this program has become critical to who we are, so we partner with our members and cooperatives — banks, credit unions and insurance companies — across our district to find these partners and get this money out into communities to help build more affordable housing units," said Daniel Clute, executive vice president and chief business officer for FHLB Des Moines.
U.S. Rep. Blaine Luetkemeyer, R-Missouri, said partnerships like this improve the community and improve much-needed affordable housing.
"I understand the importance of these projects and who (affordable housing entities) serve and the fact (the banks) want to give this money is fantastic," he said.
The grants will benefit almost 100 people living in affordable housing, according to a FHLB Des Moines news release.
The Jefferson City Housing Authority will renovate the kitchens at Dulle Tower Apartments using this grant. The renovations include new kitchen cabinets and countertops, larger stoves and possibly new refrigerators.
Housing Authority Executive Director Cynthia Quetsch said she did not know when they would start the renovations.
Greenway Village Inc. plans to use the grant to replace roofs, kitchen cabinets and exterior doors of apartments. It also will repair the building's foundation and driveway.