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Nominations Now Open for the Community Investment Advisory Council |
| The FHLBC is accepting nominations for its Community Investment Advisory Council through October 31, 2013. The Advisory Council is comprised of individuals who reside in the district and are actively engaged in affordable housing, community lending, and/or economic development activities. Advisory Council members are appointed by the FHLBC Board of Directors and serve three-year terms. Click here for the nomination form. |
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CICA Webinar Offered this Month |
The FHLBC offers credit products that can help support our members’ affordable housing and economic development programs. Under the Community Investment Cash Advance (CICA) program, members are provided with favorably priced advances and letters of credit to finance eligible projects in their communities.
Eligible housing projects include the purchase, construction, refinance, or rehabilitation of affordable owner-occupied or rental units. Eligible economic development projects include industrial and manufacturing facilities, agricultural businesses, healthcare, and educational centers, public or private infrastructure projects, or commercial businesses.
CICA products are continuously available and do not require the applicant to compete for funds. However, applicants are required to complete applications and to provide supporting documentation.
To find out more, please register now for the CICA Webinar being held on October 30, 2013 at 2:00 p.m. CT. |
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DPP® + MCC = Making Homeownership More Affordable |
| Participating lenders can combine the FHLBC’s Downpayment Plus® (DPP®) programs with a TaxSmart Mortgage Credit Certificate (MCC) from the City of Chicago. Click here for more details. |
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2013 Competitive AHP Round Update |
| The Community Investment Group is continuing to review the 143 applications that were submitted in our 2013 Competitive Affordable Housing Program (AHP) round. Many applicants recently received a ‘request for clarification’; however, not being asked for clarification should not be interpreted as a lack of competitiveness. We expect to make award announcements in early December. |
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Advisory Council Member Spotlight: Irma Yepez Klassen, Select Milwaukee |
| In this Advisory Council Member Spotlight we introduce Irma Yepez Klassen, associate director of Select Milwaukee. Select Milwaukee is a private, non-profit organization, founded in 1991 on the notion that families and Milwaukee neighborhoods would be well-served with the private, public, and non-profit sectors working together to support homeownership that people can afford and sustain. Learn More |
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Downpayment Plus® Funds Increased |
| As previously announced, the FHLBC increased the maximum assistance available through our Downpayment Plus® (DPP®) programs from $6,000 to $8,000 per income-eligible household. Additionally, the $400,000 member limit has been increased to $700,000. For more information, please visit the Downpayment Plus Programs section of our website. |
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New AHP Disbursement Request Forms Now Available |
| Effective immediately, all FHLBC members and sponsors should use the new disbursement request forms when requesting Affordable Housing Program (AHP) subsidy. Two new forms replace the previous funding request forms: one for owner-occupied projects and one for rental projects. Visit the AHP Program Policy and Forms section of our website to access both new forms located under AHP Disbursement. |
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| Calendar |
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FHLBC In Your Community |
| October 9: Mercy Housing’s Moving Forward Together Event | Chicago, IL | Sponsoring and Attending
October 11: King Drive Commons IV Opening | Milwaukee, WI | Guest Speaking and Attending
November 1: Metropolitan Planning Council's Annual Luncheon | Chicago, IL | Sponsoring and Attending
November 5: Wisconsin Women’s Business Initiative Corporation’s Annual Luncheon | Milwaukee, WI | Sponsoring and Attending
November 5 and 6: Housing Action Illinois’ 2013 Annual Conference | Bloomington, IL | Sponsoring and Attending
November 12 – 14: National Community Investment Fund’s Annual Development Banking Conference | Chicago, IL | Sponsoring and Attending
November 19: Wisconsin Housing & Economic Development Authority’s Conference 2013 | Madison, WI | Sponsoring, Attending, and Exhibiting
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The mission of the FHLB Chicago is to partner with our member shareholders in Illinois and Wisconsin to provide them competitively priced funding, a reasonable return on their investment in the Bank, and support for community investment activities.
Member owned.
Member focused. |  |
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| Share Your Photos
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Have a great photo from a groundbreaking or ribbon cutting ceremony you would like to share? We are always looking for photos from projects that utilized FHLBC funds to share with our FHLBC community.
Click here to submit a photo.
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