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U.S. Bank Partners With Yarco And Catholic Charities To Support Military Veterans In Kansas City, MO

Stocks in this article: USB

U.S. Bank is providing more than $17.7 million in financing to help Kansas City, MO-based Yarco Companies and Catholic Charities of Kansas City – St. Joseph, Inc. construct the first phase of St. Michael’s Veterans Center. Designed to become a comprehensive housing and support services campus for military veterans with special needs, the first phase of development will bring 58 one-bedroom affordable housing units to Kansas City by May 2014.

“Imagine serving your country overseas, only to return to no job and no place to live,” said Lynn Craghead, senior vice president of Low-Income Housing Tax Credit investments for U.S. Bancorp Community Development Corporation, the community development subsidiary of U.S. Bank that partnered on financing. “Unfortunately, this situation is the reality for many returning Americans. St. Michael’s Veterans Center is designed to respond to veterans’ unique needs and empower them to successfully reintegrate within their family and their community.”

Located on a 22-acre campus in close proximity to the Kansas City Veterans Affairs Medical Center, St. Michael’s Veterans Center will be built in three phases and will eventually include 180 affordable rental units, a support services center offering counseling, job training, and medical and case management resources, an honor garden, and a recreational building.

“Approximately 95,000 veterans call the Kansas City area home,” said Deacon Dan Powers, CEO of Catholic Charities. “In 2010, about 20,000 of those were living with a disability, more than 6,000 were at or below the poverty level, and nearly 30,000 were unemployed or not participating in the labor force. A holistic approach to reentry like St. Michael’s, which couples housing and necessary support services, maximizes opportunities for veterans to recover a stable, healthy lifestyle.”

As the anchor of the campus, permanent housing will provide long-term, safe affordable residences to veterans, those who are homeless, or live with disabilities. The residential units will promotes self-reliance in a fully sustainable setting.

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