Hy-Vee Inc. and its banking subsidiary Midwest Heritage have pledged $250,000 to the Chariton Valley Regional Housing Trust Fund, a nonprofit organization that provides safe and affordable housing to 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 Chariton in need of repair and encourage others considering home renovations to also update their properties.
“Hy-Vee has strong ties to the community of Chariton, because it previously served as our company headquarters for nearly 50 years,” said Matt Beenblossom, 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 Hy-Vee and Midwest Heritage’s donation, the Chariton Valley Regional Housing Trust Fund will purchase, renovate and sell four homes in Lucas County over the next 12 months. Although the housing trust fund targets low- and moderate-income housing, the homes purchased with these funds will not be tied to income restrictions. Profits obtained from the sale of each home then will be reinvested in the Chariton Housing Revitalization Program so additional homes in and around the city can be updated each year.
“This contribution to the Trust will provide immeasurable impact in the community,” said Rachel Hoffman, executive director for the Chariton Valley Regional 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 Chariton Valley Regional Housing Trust Fund is currently considering homes on the market, with a focus on the Seventh Street corridor, which serves as a gateway to the community. Over the next year, the project will consist of one to two home remodels, with a large team of community sponsors and volunteers completing different phases of the project. In addition, up to two additional homes will be updated using local contractor services.
“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,” Beenblossom said. “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.”
Hy-Vee is an employee-owned corporation operating more than 240 retail stores across eight Midwestern states with sales of $9.8 billion annually.
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