Leech Lake Housing Authority received $331,082 of additional funding for its Low Income Housing Tax Credit (LIHTC) development Leech Lake Homes 8 — a development of 30 new single-family homes — from the Federal Home Loan Bank of Des Moines through its Affordable Housing Program (AHP).
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. Housing authorities use the extra subsidy to lower or eliminate the need for tribal funding in the developments.
The homes will be built on the Leech Lake Reservation in Cass Lake, MN, and located in an area with great services and comforts. Residents will have access to the Leech Lake Tribal Transit, which has fixed routes and dial-a-ride options, for transportation to work, school, shopping, services, appointments and more. Other amenities near the development include grocery stores, discount stores, restaurants, gas stations, police and fire services, a hospital, schools and community centers.
Another great component of this development is its plan for homeownership. After the compliance period elapses, residents will have an opportunity to purchase their homes at affordable prices and become homeowners! Find more details about the development here.
We’re happy to have LLHA as a partner! Congratulations on your AHP award!