FHLB Des Moines, First Interstate Bank donate $10.4 million to groups

Billings, Mont.-based First Interstate Bank and the Federal Home Loan Bank of Des Moines provided $10.4 million in Affordable Housing Program grants this year. .The funding is expected to create and preserve 127 rental homes in Redmond, Ore.; Fort Thompson, S.D.; and Sheridan, Wyo. expanding access to safe and affordable housing for families and individuals across the region.In Redmond, local group Mountain View Community Development received a $3 million grant to develop Mountain View Community Village, which will include 75 rental homes for local families. The Crow Creek Housing Authority in Fort Thompson was awarded $4.4 million, including $1.5 million to build 10 new rental homes and nearly $3 million to rehabilitate 22 existing homes. Also, Volunteers of America Northern Rockies received $3 million to develop 20 transitional rental homes. “Home offers stability, health, and opportunity,” said First Interstate Bank Director of Community Responsibility Amberly Pahut. “We’re honored to work alongside our partners to bring these vital housing projects to life. Together, we’re building homes and hope across our region.”The Affordable Housing Program is a competitive grant program administered by FHLB Des Moines supporting housing initiatives for low- and moderate-income households through partnerships with member financial institutions and local organizations.