Missouri Affordable Housing Development Executive John Kennedy re-elected to FHLB Des Moines Board
John Kennedy, executive vice president and chief financial officer of the St. Louis Equity Fund, Inc. (SLEFI), was re-elected to a four-year term as an independent public interest director to the Federal Home Loan Bank of Des Moines.
SLEFI strives to revitalize neighborhoods through public/private cooperation utilizing corporate investment and available tax incentives to stimulate the development of low to moderate income affordable rental housing units.
Kennedy has been with the St. Louis Equity Fund since 1998 and has more than 30 years of experience in commercial and residential real estate development, affordable housing development and financial/banking services.
To date, SLEFI has raised and deployed over $300,000,000 of capital to help finance 4,089 units of affordable rental & historic preservation units having total development costs of approximately $544,000,000.
Kennedy also serves as director of Northside Community Housing, Inc., a neighborhood revitalization group and 501(c)(3), which has helped with the rehabilitation of 42 units of housing and the construction of 65 new single-family scattered site houses.
The FHLB Des Moines Board of Directors is comprised of financial service, business and community leaders from across the Bank’s five-state district of Iowa, Minnesota, Missouri, North Dakota and South Dakota. The board is made up of 16 directors: nine member directors and seven independent directors.