The document provides information about the Federal Home Loan Bank of Des Moines and its Affordable Housing Program. It discusses that the Federal Home Loan Bank System was authorized by Congress in 1932 and is comprised of 12 regional banks. It also notes that the Federal Home Loan Bank of Des Moines serves Iowa, Minnesota, Missouri, North Dakota, and South Dakota. As part of its mission, 10% of the bank's annual net income is reserved for affordable housing initiatives like the Affordable Housing Program, which provides funding to develop affordable rental and homeownership housing.

1. Federal Home Loan Bank of
Des Moines
Affordable Housing Program
Stacy Snyder
Rental Housing Manager
August 2013

2. Federal Home Loan Bank System
• Authorized by Congress in 1932, the Home Loan Bank System is
a government sponsored enterprise comprised of 12 regional,
independent Banks.
• Over 8,000 commercial banks, thrifts, insurance companies and
credit unions are cooperative members of the Home Loan Banks.
• The mission of the Banks is to provide liquidity and stability to the
nation’s financial system, and to promote housing and economic
development in communities.
• Member financial institutions borrow funds from the Banks to
finance housing, economic development, infrastructure and jobs.
About 80 percent of U.S. lending institutions rely on the Federal
Home Loan Banks.
• As part of their mission, the Banks reserve 10% of Net
Income each year for Affordable Housing Initiatives.

3. What does the Federal Home Loan
Bank of Des Moines do?
• Provides Advances to Member institutions
(banks, insurance companies, & credit
unions)
• Government Sponsored Entity
• As part of it’s mission, the Bank sets aside
10% of its Net Income each year for
Affordable Housing initiatives

4. Who does FHLB Des Moines serve?
• The Bank’s
5 state district
includes:
– Iowa
– Minnesota
– Missouri
– North Dakota
– South Dakota

5. FHLB Des Moines Members
• More than 1,200 members which include:
– Commercial Banks
– Credit Unions
– Thrifts
– Insurance Companies
– Housing Associates

6. Community Investment Programs
• Affordable Housing Program (AHP)
• Set Aside Programs
– Homebuyer Fund
– Native American Homeownership Initiative
• Community Investment Advances
• Questions

7. Affordable Housing Program (AHP)
• Competitive award program
• Receive 100-120 applications annually. Fund 25-40%.
• Funds can be used for the purchase, construction,
or rehabilitation of affordable housing units
• Maximum award $300,000 (2012) / $500,000 (prior years)
• Maximum subsidy of $30,000 per unit
• Households must be at or below 80% of Area
Median Income (AMI)
** NOTE: At least 20% of units must be targeted at 50% AMI
or below on Rental projects
• Retention Periods / Deed restrictions:
• Rental = 15 years / Homeownership = 5 years

8. Project Types
Homeownership
• Development Projects - New Construction and Acquisition/Rehab
• Development – Habitat for Humanity Projects
• Owner Occupied Rehabilitation
• Down Payment and Closing Cost Assistance

9. AHP Projects Funded 1990 - 2011
• Minnesota = $69.5 million (381 projects)
• Missouri = $48.9 million (235 projects)
• Iowa = $38.7 million (283 projects)
• South Dakota = $27.0 million (134 projects)
• North Dakota = $10.6 million (57 projects)
• Out of District = $9.8 million (61 projects)
Total development costs = $1.6 Billion
Total AHP Funds Awarded = $205 million
Total Projects = 1,151
Total Units created/rehabbed = 41,408

10. AHP Scoring Criteria
• Priority 1 – Donated property
• Priority 2 – Non-profit or Government Entity Sponsorship
• Priority 3 – Income Targeting
• Priority 4 – Homeless Households
• Priority 5 – Promotion of Economic Empowerment
• Priority 6 – First District Priority (in-district, special needs households)
• Priority 7 – Second District Priority (Native American, acquisition-rehab)
• Priority 8 – Subsidy Per Unit
• Priority 9 – Community Stability (Vacant & Abandoned, Adaptive Re-Use,
New Construction, & No Displacement)
5
10
20
5
5
18
17
10
10
Points
Scoring priorities change from year-to-year. Keep up-to-date
with the scoring criteria in the AHP Implementation Plan.
. NOTE: Commitments made in the application must be met for the
. entire retention period (Rental = 15 years / Homeownership = 5 years)

11. AHP Implementation Plan
The AHP Implementation Plan is updated annually.
Training materials can also be found on the website.

12. NOTE: The AHP online application will be accessible Monday through
Sunday from 7:00 a.m. through 10:00 p.m Central Time.
No applications will be accepted after the AHP deadline listed below. In addition, any
applications with missing Exhibits at the time of the deadline will be considered incomplete.
Pre-Application Start: 7:00 AM February 1, 2014
Pre-application End: 4:30 PM March 15, 2014
Registration Start: 7:00 AM March 15, 2014
Registration End: 4:30 PM April 15, 2014
Application Start: 7:00 AM April 1, 2014
Application End: 4:30 PM May 15, 2014
Member Bank Approval Start: 7:00 AM April 1, 2014
Member Bank Approval End: 4:30 PM May 15, 2014
AHP AWARDS ANNOUNCED November, 2014
** All times are
Central Time. **
* IMPORTANT DATES – 2014 AHP Applications *

13. Member & Sponsor Roles /Responsibilities
• Sponsor must request support from a Member
• Sponsor registers with FHLB Des Moines
• Member provides Sponsor with User ID and
Password
• Sponsor completes AHP Application
• Member “approves” AHP Application
– During AHP Application Process
NOTE: The AHP Application is not considered complete and
. eligible to receive AHP funds until the Member approves it

14. Leasburg Rehabilitation – USDA - MO
USDA
projects
have
received
more than
$10 million
in AHP
funds to
rehabilitate
elderly
rental units

15. Leasburg Rehab – USDA - MO

16. Hamilton Housing – USDA – MO

17. White Earth Reservation

18. White Earth

19. White Earth

20. White Earth

21. Community Investment Department Contacts
• Stacy Snyder, Rental Housing Manager
• Brandon Wiltgen, Rental Housing Analyst
• Renee Marrs, Rental Housing Specialist
• Rick Bloxham, Homeownership Manager
• Mary Jo Vogl, Homeownership Analyst
• Evelyn Bengtson, Set Aside Homeownership Analyst
• Gary Dodge, Director Community Investment
• Laura Newberry, Operations Manager
• Cheryl McCollum, Community Investment Specialist
Rental Housing
Homeownership
Administrative

22. Thank You!
Stacy Snyder
Rental Housing Manager
Federal Home Loan Bank of Des Moines
(515) 281-1042
ssnyder@fhlbdm.com
www.fhlbdm.com