Sue Kautzman, site manager for Hamrick Terrace Apartments, receives a certificate of appreciation from Jay Lee Frost, president of the board of directors for Houston Housing Inc.

The Houston Housing Inc. property known as Hamrick Terrace Apartments recently received $473,643 in grant funds for capital improvements and rehabilitation from USDA Rural Development.

FHLB Des Moines partnered with The Bank of Houston to provide the grant funds. A certificate of appreciation was presented to bank CEO Eddie Smith.

At Hamrick Terrace apartments, all building exteriors were replaced with brick and vinyl siding, new fascia and soffits, guttering and downspouts were installed. Two covered bus stops were constructed on-site to assist residents waiting for public transportation. After all necessary repair were completed, each of the 48 apartments received central air conditioning; new kitchen cabinets, counter tops and sinks; rehab to bathrooms; new energy efficient windows; and were painted.

“We face a real shortage of affordable housing in Missouri and across the nation,” said U.S. Sen. Kit Bond. “I congratulate the senior housing’s board of directors in Houston who worked to secure this funding. While these funds will make a tremendous difference in Houston, there is still much more work to be done as many families continue to struggle to meet their housing needs in this difficult economy.”

The FHLB Des Moines funds were provided to rural Missouri communities to assist with rental housing improvements. Specifically, the funding is part of the Affordable Housing Program, which provides grants to help fund single or multi-family housing initiatives and can be used for down payment, closing and rehabilitation cost assistance.

“The many improvements made at the Hamrick Terrace Apartments as a result of this funding will make a huge difference in the quality of affordable housing in Houston,” said Rep. Jo Ann Emerson. “USDA Rural Development is obviously aware that the partnership here is very strong. Houston is a great community with so much to offer and the upgrades with central heat and air along with other improvements will make a big difference to the residents.”

“FHLB Des Moines and their member banks, including The Bank of Houston, are valuable assets to our communities. The infusion of the grant funds will help keep the rental rates affordable for our residents.” Said Janie Dunning, Missouri state director for USDA Rural Development. “Today, we recognize a great example of how partnerships can work together to accomplish significant improvements for a great community. I extend my congratulations to Houston Housing Inc. and residents. I also want to recognize the generous donation of Federal Home Loan Bank of Des Moines and the local Bank of Houston in financing the many improvements. This is a celebration of many partnerships working together to ensure the availability of affordable rental housing and exemplifies the Rural Development mission – committed to the future of rural communities.”

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