Hy-Vee Pledges $250K Toward Affordable Housing
Hy-Vee Inc. and its banking subsidiary, Midwest Heritage, have pledged $250,000 pledge to the Chariton Valley Regional Housing Trust Fund, a nonprofit organization providing safe, affordable housing for low- and moderate-income residents in Iowa’s Appanoose, Lucas, Monroe and Wayne counties. The contribution will go toward the newly created Chariton Housing Revitalization Program, which will invest in and revitalize homes in the city needing repairs and encourage others considering home renovations to do so.
“Hy-Vee has strong ties to the community of Chariton, because it previously served as our company headquarters for nearly 50 years,” noted Matt Beenblossom, Hy-Vee’s VP of distribution in Chariton. “It is our goal to spark excitement in the community through this program, which we hope will serve as a catalyst for additional improvements across the town.”
With the donation, the Chariton Valley Regional Housing Trust Fund will purchase, renovate and sell four Lucas County homes over the next year. Although the housing trust fund is dedicated to low- and moderate-income housing, the homes bought with these funds won’t be tied to income restrictions. Profits from the sale of each home will then be reinvested in the Chariton Housing Revitalization Program so more homes in and around the city can be renovated each year.
“This contribution to the trust will provide immeasurable impact in the community,” said Rachel Hoffman, executive director for the housing trust fund. “The creation of the Chariton Housing Revitalization Program will build momentum as we work together to renovate, restore and revitalize our community.”
“The community of Chariton remains integral to our business, and we are committed to recruiting and retaining talented employees at Hy-Vee’s Chariton distribution center,” added Beenblossom. “Quality, affordable housing plays an important role in employee retention. We believe this project and the partnerships that are formed throughout the process will further amplify our community spirit and draw attention to everything our region has to offer.”
Progressive Grocer’s 2017 Retailer of the Year, West Des Moines, Iowa-based, employee-owned Hy-Vee operates more than 240 retail stores across eight Midwestern states. Read more about its charitable contributions and community involvement here.