FHLB Des Moines – AHP Project Case Studies
AHP Project Case Study: Rental New Construction (Minnesota)
Facing a shortage of housing options for homeless youth, Beacon created 39 units of housing in the Minneapolis suburb of Edina. They did this through an adaptive reuse of an existing commercial building.
In 2016, Beacon developed the 66 West project and teamed up with Edina Community Lutheran Church to offer high quality, permanent housing for 39 homeless young adults. The project site provides access to jobs, transit, and amenities.
Beacon applied a unique approach to build support and lay the groundwork for the project. Beacon achieved this by educating and organizing hundreds of individuals through their congregations. The community rallied behind the project, working with their elected leaders to become true partners in addressing this need. Over 225 people showed up at city-sponsored public hearings, asking their elected representatives to support the land use and funding approvals for 66 West. As a result, the Edina Mayor, and City Council members voted unanimously on land use approvals. They also voted on a City funding commitment of $550,000 through Tax Increment Financing.
Thanks to the overwhelming community effort and partnerships, homeless youth in the area now have a place to call home.
| Funding Sources | |
|---|---|
| FHLB Des Moines AHP Funds | $273,000 |
| State Deferred Loans | $5,008,303 |
| LIHTCs | $2,993,320 |
| County | $800,000 |
| City TIF | $550,000 |
| Metropolitan Council | $1,300,000 |
| Local Funds | $495,900 |
| Total | $11,420,523 |
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AHP Project Case Study: New Construction Group Home (South Dakota)
After receiving an AHP award in 2015, ADVANCE developed The Franklin House to offer affordable housing in a group home setting for low-income adults with intellectual and developmental disabilities in Brookings County. The property is on a large lot in a residential neighborhood on the south side of Brookings, South Dakota. It is also close to several new housing developments in that part of the city.
The house has eight bedrooms and features communal dining and living areas, a sunroom, and two covered outdoor patios. The entire house is accessible to people who use a wheelchair, or have other mobility aides. Staff are available in the house 24-hours a day to offer support services and attend to the care needs of the residents. So far, the project has successfully affected the community.
| Funding Sources | |
|---|---|
| FHLB Des Moines AHP Funds | $240,000 |
| Grants | $160,000 |
| Private Donations | $261,281 |
| Permanent Loan | $160,000 |
| Owner’s Equity | $93,399 |
| Total | $914,680 |
