Latest news with #MinnesotaHousingPartnership
Yahoo
09-06-2025
- Business
- Yahoo
Bridgewater Bank and Federal Home Loan Bank of Des Moines Award $800,000 to Minnesota Nonprofits Through Matching Grant Program
ST. LOUIS PARK, Minn., June 09, 2025--(BUSINESS WIRE)--Bridgewater Bank, in partnership with the Federal Home Loan Bank of Des Moines (FHLB Des Moines), has awarded $800,000 to 23 local nonprofit organizations through the 2025 Member Impact Fund, a matching grant initiative focused on strengthening affordable housing and community development efforts. The Member Impact Fund provides members with up to $3 in matching funds for every $1 contributed to eligible nonprofits. Beyond its previously planned 2025 charitable giving, Bridgewater Bank committed an additional $100,000, resulting in a significantly larger pool of support for nonprofit partners serving Minnesota communities. "As a local bank and leader in the affordable housing space, we are thrilled to amplify our community impact through this meaningful collaboration with FHLB Des Moines," said Nick Place, Chief Banking Officer at Bridgewater Bank. "This program strengthens our ability to support some of the most impactful organizations in our state and bring transformational resources to the table." Confirmed grant recipients include: Minnesota Housing Partnership CommonBond Communities Habitat for Humanity of Minnesota Twin Cities Housing Alliance Bridging Trellis Rethos (Full recipient list available upon request) "Minnesota Housing Partnership is deeply grateful to Bridgewater Bank for their generous and strategic contribution to advancing our work. Across Minnesota, we need more homes to help our state thrive—and each of us has a role to play in making that happen. Our partnership with Bridgewater Bank reflects a shared commitment to creating the homes Minnesota needs," said Anne Mavity, Executive Director of Minnesota Housing Partnership. Since its founding in 2023, the Member Impact Fund has supported affordable housing and community development with nearly $70 million in grants awarded by FHLB Des Moines. "The Member Impact Fund continues to be a powerful resource in supporting our members as they expand access to affordable housing and drive community development," said Kris Williams, President and CEO of FHLB Des Moines. "It's inspiring to see the partnerships centered around improving local communities in such a variety of ways." Member FDIC | Equal Housing Lender About Bridgewater Bridgewater Bancshares, Inc. (Nasdaq: BWB) is a St. Louis Park, Minnesota-based financial holding company founded in 2005. Its banking subsidiary, Bridgewater Bank, is a premier, full-service bank dedicated to providing responsive support and simple solutions to businesses, entrepreneurs, and successful individuals across the Twin Cities. Bridgewater offers a comprehensive suite of products and services spanning deposits, lending, and treasury management solutions. Bridgewater has also received numerous awards for its banking services and esteemed corporate culture. With total assets of $5.1 billion and nine strategically located branches as of March 31, 2025, Bridgewater is one of the largest locally-led banks in Minnesota and is committed to being the finest entrepreneurial bank. For more information, please visit About FHLB Des Moines The Federal Home Loan Bank of Des Moines is deeply committed to strengthening communities, serving 13 states and three U.S Pacific territories as a member-owned cooperative. We work together with over 1,200 member institutions to support affordable housing, economic development and community improvement. FHLB Des Moines is one of 11 regional Banks that make up the Federal Home Loan Bank System. Members include community and commercial banks, credit unions, insurance companies, thrifts and community development financial institutions. FHLB Des Moines is wholly owned by its members and receives no taxpayer funding. For additional information about FHLB Des Moines, please visit View source version on Contacts Media Contacts:Jessica Stejskal | SVP Marketing | Bridgewater | 952.893.6860 Rachel Wegmann | Public Relations Manager | FHLB Des Moinesrwegmann@ | 515.412.2357 Investor Contact | Bridgewater Bank: Justin Horstman | VP Investor | 952.542.5169
Business Wire
09-06-2025
- Business
- Business Wire
Bridgewater Bank and Federal Home Loan Bank of Des Moines Award $800,000 to Minnesota Nonprofits Through Matching Grant Program
BUSINESS WIRE)--Bridgewater Bank, in partnership with the Federal Home Loan Bank of Des Moines (FHLB Des Moines), has awarded $800,000 to 23 local nonprofit organizations through the 2025 Member Impact Fund, a matching grant initiative focused on strengthening affordable housing and community development efforts. The Member Impact Fund provides members with up to $3 in matching funds for every $1 contributed to eligible nonprofits. Beyond its previously planned 2025 charitable giving, Bridgewater Bank committed an additional $100,000, resulting in a significantly larger pool of support for nonprofit partners serving Minnesota communities. 'As a local bank and leader in the affordable housing space, we are thrilled to amplify our community impact through this meaningful collaboration with FHLB Des Moines,' said Nick Place, Chief Banking Officer at Bridgewater Bank. 'This program strengthens our ability to support some of the most impactful organizations in our state and bring transformational resources to the table.' Confirmed grant recipients include: Minnesota Housing Partnership CommonBond Communities Habitat for Humanity of Minnesota Twin Cities Housing Alliance Bridging Trellis Rethos (Full recipient list available upon request) 'Minnesota Housing Partnership is deeply grateful to Bridgewater Bank for their generous and strategic contribution to advancing our work. Across Minnesota, we need more homes to help our state thrive—and each of us has a role to play in making that happen. Our partnership with Bridgewater Bank reflects a shared commitment to creating the homes Minnesota needs,' said Anne Mavity, Executive Director of Minnesota Housing Partnership. Since its founding in 2023, the Member Impact Fund has supported affordable housing and community development with nearly $70 million in grants awarded by FHLB Des Moines. 'The Member Impact Fund continues to be a powerful resource in supporting our members as they expand access to affordable housing and drive community development,' said Kris Williams, President and CEO of FHLB Des Moines. 'It's inspiring to see the partnerships centered around improving local communities in such a variety of ways.' Member FDIC | Equal Housing Lender About Bridgewater Bridgewater Bancshares, Inc. (Nasdaq: BWB) is a St. Louis Park, Minnesota-based financial holding company founded in 2005. Its banking subsidiary, Bridgewater Bank, is a premier, full-service bank dedicated to providing responsive support and simple solutions to businesses, entrepreneurs, and successful individuals across the Twin Cities. Bridgewater offers a comprehensive suite of products and services spanning deposits, lending, and treasury management solutions. Bridgewater has also received numerous awards for its banking services and esteemed corporate culture. With total assets of $5.1 billion and nine strategically located branches as of March 31, 2025, Bridgewater is one of the largest locally-led banks in Minnesota and is committed to being the finest entrepreneurial bank. For more information, please visit About FHLB Des Moines The Federal Home Loan Bank of Des Moines is deeply committed to strengthening communities, serving 13 states and three U.S Pacific territories as a member-owned cooperative. We work together with over 1,200 member institutions to support affordable housing, economic development and community improvement. FHLB Des Moines is one of 11 regional Banks that make up the Federal Home Loan Bank System. Members include community and commercial banks, credit unions, insurance companies, thrifts and community development financial institutions. FHLB Des Moines is wholly owned by its members and receives no taxpayer funding. For additional information about FHLB Des Moines, please visit
CBS News
06-03-2025
- Business
- CBS News
Bipartisan group of Minnesota lawmakers announces affordable housing package
For many Minnesota families, housing costs eat up more of their budget than anything else. A bipartisan group of state lawmakers say they have a blueprint to fix that. On Wednesday, the coalition — which includes conservatives and progressives from the Twin Cities metro and Greater Minnesota — announced a package of bills to tackle what they call a crisis. The state is more than 114,000 affordable homes short of the need, according to the Minnesota Housing Partnership. Half of all renters are considered "cost-burdened," meaning they spend more than 30% of their monthly income on rent, which represents more people than at any other time in the last decade, the group's latest report said. "We hear it all the time: Housing costs too damn much," said Rep. Mike Howard, DFL-Richfield. The bills have yet to be published, but the legislators said the proposals will cut down on red tape in order to build more starter home options — like townhomes and duplexes — and ensure they're approved by cities in a timely manner by streamlining that process. Another plan would require local governments to allow more options in commercial areas. Notably, Minneapolis recently loosened its rules so vacant office space could be converted into apartments. Others focus on lifting parking directives and removing aesthetic requirements — the mandated use of premium products as the minimum construction standard — that supporters say are barriers to development. "As I have said in the past, housing is a North Star issue. Every person needs to find their way home — like my kid in the Navy always told me, I know I can go home to our North Star in Waconia," said Rep. Jim Nash, R-Waconia. "There are so many people that don't have that opportunity right now, so Republicans and Democrats and progressives and liberals are all saying, 'Let's fix this.'" Last year, legislation aimed at the same goal failed to get enough support to pass. This group says these bills are different and answer concerns from cities. The proposed changes do not force development where core government services cannot support that expansion, for example. "That's one thing that we heard loud and clear from cities is that we want to have more choice and to apply these reforms in the way that makes sense for our communities. And these bills reflect that," Howard said. Minnesotans need to make nearly $100,000 a year to afford a median-priced home, the Minnesota Housing Partnership detailed in its report. Meanwhile wage growth has not kept pace with the increase in rent and the price of a home. The proposals are only policy changes, meaning they don't impact the state budget, which will face some constraints this year as lawmakers try to spend wisely to avoid a $5 billion deficit in future years.
