The City of Brooklyn Park, in partnership with TopLine Federal Credit Union, received a $294,000 Affordable Housing Program (AHP) grant from the Federal Home Loan Bank of Des Moines. Starting today, 50 Brooklyn Park households will have the opportunity to make improvements to their homes using these funds.
To encourage reinvestment from homeowners, Brooklyn Park Home Repair Assistance was created as a mechanism to fund critical housing repairs. The program was jump started using $496,000 in FHLB Des Moines AHP grant funds. More than 80 low- to moderate-income families received forgivable loans during the first round. Today, Brooklyn Park Home Repair Assistance will continue with the addition of$294,000 in grant funds. "The funding made available through our partnership with the FHLB of Des Moines is filling a critical housing reinvestment niche in the community. Many Brooklyn Park homeowners without access to capital will be able to make needed home repairs," states Major Jeffrey Lunde.
Each year, FHLB Des Moines returns 10 percent of its net income to communities through the Affordable Housing Program. These grants are awarded in partnership with member financial institutions like TopLine Federal Credit Union. "We actually were flattered to be asked to participate," said Harry Carter, TopLine CEO.� "Im sure that every business in the community is glad to see programs like this so effectively help our neighbors, and were proud to be a small part of it."
