The Federal Home Loan Bank of Des Moines (FHLB Des Moines), in collaboration with its member First National Bank Bemidji, has extended a generous $1 million grant to the Red Lake Reservation Housing Authority (RLRHA) in support of the construction of nearly 30 new three-bedroom single-family units on the Red Lake Reservation in Minnesota. This grant, facilitated through the FHLB Des Moines’ Affordable Housing Program (AHP), underscores a commitment to community development and affordable housing initiatives.
Red Lake Reservation stands as a unique community, exclusively inhabited by members of the Red Lake Band of Chippewa Indians, making it the sole reservation of its kind in Minnesota. With a track record of successfully developing and managing affordable housing projects, RLRHA serves both on-reservation and off-reservation members, boasting a portfolio of over 465 affordable housing units.
The proposed project will be dispersed across four communities on the Red Lake Reservation: Red Lake, Little Rock, Redby, and Ponemah, comprising 28 three-bedroom units spanning 1,300 square feet each.
Jane Barrett, Executive Director of RLRHA, expressed gratitude for the continued partnership with FHLB Des Moines and First National Bank Bemidji, emphasizing the significance of AHP grants in facilitating affordable housing development within Indigenous communities.
Through multiple collaborations, FHLB Des Moines and First National Bank Bemidji have demonstrated their commitment to supporting initiatives aimed at fostering safe, decent, and affordable housing for the Red Lake Reservation community. Hugh Welle, Chief Executive Officer of First National Bank Bemidji, highlighted the enduring partnership’s role in advancing the well-being of the Red Lake Nation and its members.
The RLRHA project represents one of 60 AHP collaborations between FHLB Des Moines and member financial institutions and local housing organizations. Last December, FHLB Des Moines announced over $46 million in funding for projects impacting more than 2,300 families and individuals, including nine Native housing projects benefiting Native American and Alaska Native households.
Kris Williams, President and CEO of FHLB Des Moines, reiterated the organization’s commitment to enhancing communities through the AHP grant, enabling partners like First National Bank Bemidji to address housing needs and foster vibrant living environments.
From new construction to rehabilitation efforts, FHLB Des Moines and its member financial institutions play a vital role in addressing affordable housing needs. Since 1990, FHLB Des Moines has allocated approximately $733 million in AHP awards, aiding over 93,000 families and individuals in securing safe and affordable housing.
For a comprehensive list of 2023 competitive Affordable Housing Program grant recipients and information on the 2024 application period, visit fhlbdm.com/products-services/affordable-housing.
