The Federal Home Loan Bank of Des Moines recently awarded five Travois clients a combined $4.4 million in Affordable Housing Program (AHP) grants — an important boost in funding that will help Tribal Nations build homes for community members in need.
The AHP is a competitive program through the Federal Home Loan Bank system that awards grants and subsidized loans to support affordable rental housing and homeownership opportunities. Tribal Nations and Tribal housing authorities use the extra subsidy to fill funding gaps in Tribal housing developments.
“Affordable Housing Program grants through the Federal Home Loan Bank system are critical to the success of affordable housing development in Indigenous communities,” said Alexandria Murnan, director of affordable housing at Travois. “They can be used in combination with other funding sources such as the Low Income Housing Tax Credit program and NAHASDA to build homes for Tribal members.”
Last week, the Federal Home Loan Bank of Des Moines announced the following developments had been awarded AHP grants:
- Pascua Yaqui Tribe’s Pascua Yaqui Homes X (45 units): $1 million
- Dry Creek Rancheria Band of Pomo Indians’ Bi’du Khaale (25 units): $800,000
- Fallon Paiute Shoshone Tribe’s FPST LIHTC I (22 units): $1 million
- Yavapai Apache Nation Tribal Housing’s Yavapai-Apache Homes VIII (40 units): $600,000
- Red Lake Reservation Housing Authority’s Red Lake Homes XV (28 units): $1 million
“Travois is proud to have assisted six Tribal Nations with successful AHP grant applications in 2023, including $4.4 million through the FHLB-Des Moines and $1.6M awarded earlier this year through the FHLB-San Francisco,” Murnan said. “These funds will assist in the creation 180 quality, affordable housing units for Tribal members across the country.”
The two developments awarded AHP grants earlier this year include $800,000 for the Washoe Housing Authority and $800,000 for the Dry Creek Rancheria Band of Pomo Indians.
In total, Travois has helped 90 affordable housing developments receive more than $43.6 million in AHP grant funding. If you are interested in applying for AHP funds, please contact us to discuss the opportunity for accessing this useful resource.