# Presentation: 470091

## Welcome to Bloomsdale, MO!

## Bank of Ste. Genevieve, Member FHLB

- Stephen Abts, Senior Vice President, discussing reporting requirements of the AHP Grant with Brenda and Pam.

## Partnership in Action

- Curt Heidt, Federal Home Loan Bank of Des Moines

- Stephen Abts, Bank of Ste. Genevieve

## The Celebration!!!!

## The Pledge of Allegiance and Ribbon Cutting

***The Pledge of Allegiance and Ribbon Cutting***

## A Happy Day in Bloomsdale

## There’s No Place Like Home...	

**Especially When Home is Bloomsdale**

## Bloomsdale ApartmentsTDC $84,260  AHP $66,600

- Bank of Ste. Genevieve-member
- Bloomsdale Senior Apartments, Inc
- 24 seniors apartments
- $17,660 reserve account
- Roof, gutters, windows, parking lot

## House of RefugeTDC $57,588  AHP $40,000

- Montgomery First National-member- Sikeston MO
- Domestic Abuse Shelter
- no shelter available in 2 counties
- Phyllis Minner--USDA community development manager---now also president of the shelters board.

## The Federal Home Loan Bank System

## The System

- Authorized by Congress in 1932, the System is comprised of 12 regional FHLBanks and the Office of Finance, the System’s centralized debt issuance facility.

## Membership in the Home Loan Bank Systemsince 1990

## Home Loan Bank MembershipBy State As of 12/31/01

- Total Membership: 1,227

## Strategic tools provided by the Home Loan Bank

- Community Investment Advance
- Affordable Housing Program
-  Technical Assistance

## Commercial Lending
Residential Lending
The Living Wage Advance
Main Street Advance

- Residential Lending
- The Living Wage Advance
- Main Street Advance

**Community Investment ****Products**

## Community Investment Program 

- Since Program establishment, nearly 500,000 housing units and $23 billion in community lending have resulted.  Also, CIP
- has made $1 billion in loans
- for 700 local community
- development projects.

## Terms

- Maturity
- 6 months up to 20 years
- Pricing
- Pricing at cost of funds plus either 2 or 9 basis points above the FHLB cost of funds.
- Lock-in Rates
- For any 15-day period up to 90-day locks and up-to-date pricing
- Maximum
- $5,000,000 or 15% of all CIP advances,
-     whichever is greater
- Approval of Application
- Approval usually granted same day
**additional conditions and limitations apply**

## MAIN STREET  ADVANCE

- Focused on downtown and mainstreet revitalization programs or Commercial Revitalization Districts.

- Types of loans that may qualify:
- real estate
- infrastructure
- equipment
- Small business loans including retail

## The Living Wage Advance

- The Living Wage Advance rewards members for doing business with customers who help people earn a living wage.
- A funding source for financing businesses whose employees are paid at or above a living wage.

## Terms

- Maturity
- 6 months up to 20 years
- Pricing
- 2 basis points above banks cost of funds

- Limited Availability
- Main Street and Living Wage Advances may not exceed $100 million of the total CIA balances
- Maximum
- $4,000,000 per member
**additional conditions and limitations apply**

## Commercial Lending

- The flexibility of the Community Investment Advance makes it possible for you to support your community and get a discounted rate for...
- commercial lending
- public works or infrastructure projects
- small business loans

## Residential LendingMulti-Family and Single Family Properties

- A practical tool to provide financing for affordable housing.
- urban or rural areas
- single or multi-family properties
- rental or owner-occupied units
- construction or rehabilitation

## Affordable Housing Program

- The AHP is a twice a year, competitive grant program benefiting households at or below 80% of the area median income.
- The grants promote partnership among FHLBDM, member financial institutions, and community development organizations.

## AHP grants must be used for the following purposes:
Purchase, construction or rehabilitation of owner-occupied homes benefiting persons at or below 80% of the area median income.
Purchase, construction or rehabilitation of rental housing for very low to low income households with at least 20% of the units reserved for families with income at or below 50% of the area median income.
Partnerships for affordable housing projects with profit and nonprofit organizations.

- Purchase, construction or rehabilitation of owner-occupied homes benefiting persons at or below 80% of the area median income.
- Purchase, construction or rehabilitation of rental housing for very low to low income households with at least 20% of the units reserved for families with income at or below 50% of the area median income.
- Partnerships for affordable housing projects with profit and nonprofit organizations.

## AHP Grants for theHome Loan Bank Systemsince inception in 1990

- Grand Total: $1,153,000,000

- in $ millions

## AHP Units By State As of 12/31/01

- Grand Total: 23,915 Units

## AHP Grants By State As of 12/31/01

- Total: $81.3 million

## Rural Homeownership Fund

- $1.5 million available through members for downpayment, closing costs (including homebuyer education) and rehab in purchasing a home.
- Any buyer first time or not.
- up to $5000 for first time buyer, $2500 for other buyers
- Current list of communities on the web site. Applications are out to members for this years offering
- You can see the complete guidelines on the web site

## Native American Homeownership Initiative

- The Board of Directors has approved utilizing $250,000 from the AHP to fund homeownership on American Indian Reservations. First FHLB bank to set aside funds for this purpose.
- This will be offered to members to match with their mortgage loan programs
- Anticipate a minimum of 50 homeownership loans.

## Delta Housing ImprovementTDC $535,000   AHP $210,000

- Farmers Bank of Portageville-member
- Delta Area Economic Opportunity Corp
- 70 homeowner rehabs
- $200,000 USDA 504 loan
- $20,000 USDA 504 grant
- $70,000 weatherization
- $35,000 Housing Trust Funds

## Uptown ApartmentsTDC $581,258 AHP $60,000

- Tracy State Bank-member
- SW Minnesota Housing Partnership
- 12 units Rental Acquisition and Rehab
- $140,000MHFA Deferred Loan
- $137,914 USDA assumption
- $161,086 USDA rehab
- $79,000 Sellers Contribution

## AHP SCORING

- Compete based on a 100 point system
- 40 of the points are designated by the local bank across nine categories.
- Donation of land or units
- non-profit or governmental sponsorship
- housing the homeless
- empowerment--supportive or technical

## AHP Scoring

- First District Priority-from a list in the regulations. Des Moines uses Community Development (Empowerment Zones, Champion, NAHASDA) and Community Involvement (donated goods and services)
- Second District Priority- Des Moines’ is homeownership at or below 60% AMI-rehab or purchase

## AHP Scoring

- Subsidy per unit--lowest gets the most points. In Des Moines we award up to 15 points with no points awarded for requests at $16,000 or more per unit
- Community Stability---Des Moines awards points for rural, infill, adaptive reuse, preservation of project based units.
- Points for serving very-low income residents

## How to win

- Maximize your points by asking for a review of the application by Home Loan Bank Staff.
- Be specific in the application so that it is easy to understand what you are doing.
- Have Home Loan Bank staff do a presentation for your staff.

## Federal Home Loan Bank of Des Moines

- www.fhlbdm.com
- Curt Heidt, Community Investment Officer
- 800 544 3452 ext 1175
- cheidt@fhlbdm.com

## Federal Home Loan Bank of Des Moines

- Curt Heidt, Community Investment Officer
- 515 281 1175  or 1-800-544-3452 ext 1175
- _[cheidt@fhlbdm.com](mailto:cheidt@fhlbdm.com)_
- _[www.fhlbdm.com](http://www.fhlbdm.com/)_