Nov 20 2015
Two Harbors Investment Corp. today announced that it had secured a $500,000 Competitive Affordable Housing Program (AHP) grant through the Federal Home Loan Bank of Des Moines (FHLB Des Moines) for Aeon, a nonprofit housing group located in Minnesota. Aeon will be using the funds to preserve affordable apartment housing in Minneapolis through its Opportunity Housing Partnership program, which serves formerly homeless individuals in a quality and permanent living environment.
“We are pleased to announce that through our sponsorship, one of our charity partners, Aeon, is a 2015 FHLB Des Moines AHP grant recipient. This grant will help Aeon provide affordable housing in Minneapolis,” said Thomas Siering, Two Harbors’ President and Chief Executive Officer. “We are thrilled that as a member of the FHLB we were able to assist in this process. We are proud of our association with Aeon and extend our warmest congratulations to them. Further, this initiative demonstrates our commitment to the community and the local housing sector.”
AHP – FHLB Des Moines
As a member of the FHLB Des Moines, Two Harbors was eligible to support Aeon in its application for a 2015 AHP grant to make affordable housing available in Minneapolis. The AHP is one of the largest sources of private sector grants for housing and community development in the nation. This competitive grant program encourages member financial institutions to partner with local housing providers (sponsors) to secure funds for the purchase, construction or rehabilitation of affordable owner-occupied or rental housing units. Projects serve low-to-moderate income households, and may include households with special needs including seniors, persons with disabilities and the homeless. FHLB Des Moines returns 10% of its net income annual to communities in its district through the AHP.
Aeon: Homes for Generations
Two Harbors is a proud supporter of Aeon, a nonprofit developer, owner and manager of high-quality affordable apartment homes that serve more than 4,000 people annually in the Minneapolis/St. Paul area. Aeon’s mission to create and sustain quality affordable homes that strengthen lives and communities is realized not only by physically transforming vacant areas into safe, decent places to live, but also by establishing lasting resources, programs and connections for the residents within them. Aeon has nearly 30 years of experience owning and managing affordable apartments.
Source: http://www.twoharborsinvestment.com/