Rivermark recently secured the maximum $3 million grant from the Federal Home Loan Bank of Des Moines Affordable Housing Program (AHP), designating Portland’s First A.M.E. Zion Church, in partnership with Logos Faith Development, as the recipient.
The grant funds will support development of a 44-unit multifamily affordable housing project for veterans and their families in Portland. As the sponsoring financial institution, Rivermark was extremely proud to play a critical role in obtaining this award.
Notably, this development is the only project in Portland to receive the maximum AHP award, marking a milestone in the effort to address the affordable housing crisis for veterans.
“Financial institutions have a responsibility to create lasting impact beyond banking,” said Rivermark Executive Vice President/Chief Impact Officer Seth Schaefer. “This project will provide safe, affordable housing for veterans who deserve stability and dignity, and we’re honored to help make this vision a reality.”
Grant efforts like this are integral to Rivermark’s mission. It’s one more way we support, foster, and give back to the communities we serve. And we can think of few issues more important than addressing housing insecurity for those who’ve served our country.
