Federal Home Loan Bank of Des Moines Awards Jeremiah Fargo-Moorhead $300,000

Federal Home Loan Bank of Des Moines Awards Jeremiah Fargo-Moorhead $300,000

The Federal Home Loan Bank (FHLB) of Des Moines has awarded Jeremiah Program Fargo-Moorhead $300,000 for capital construction of a new campus to serve low-income mothers and their children. Funding was awarded in the 2015 round of the Affordable Housing Program.

The FHLB is a member-owned cooperative that provides funding for affordable housing and economic development via its 1,500 members. Gate City Bank, an FHLB member, supported Jeremiah’s application and will assist in compliance with program requirements.

“We are pleased to have competed successfully for this significant funding to help determined young mothers and their children move out of poverty,” said Diane Solinger, Executive Director of Jeremiah Program Fargo-Moorhead. “We greatly appreciate the support of Gate City Bank and the investment the Federal Home Loan Bank is making in our organization.”

With this award, Jeremiah Program now has raised $2.95 million toward construction of the campus, to be built on land located at 801 Page Drive in Fargo, donated by Catholic Health Initiatives. The campus will provide safe and affordable housing, an on-site early childhood education center, and individualized support for helping women get into and through career-track college degree programs. The program serves low-income single mothers with children under the age of five.

Currently, more than 2,300 single mothers are living in poverty in the Fargo-Moorhead area, a number that has increased 16 percent over the last six years. The majority of these mothers have children under the age of four. Jeremiah expects to break ground on the new campus in spring 2016.