Federal Home Loan Bank of Chicago | Community Investment Newsletter | April 2015
AHP 25 Years: Over 95,000 Affordable Housing Units Since 1989
The Affordable Housing Program (AHP) of the FHLBC has provided over 95,000 units of quality, affordable housing for homebuyers, homeowners, and renters across our district since 1989. View a housing units graph to see how the program has grown over the years and helped so many have a place to call home.
News
2015 AHP Application Trainings: Last Chance!
Join FHLBC staff at any one of the five complimentary sessions listed below to learn more about competitive Affordable Housing Program eligibility, project feasibility, and the scoring guidelines; all sessions are identical. Registration closes soon!

April 8:    Bloomington, IL
April 14:  Stevens Point, WI
April 16:  Milwaukee, WI
April 21:  Rosemont, IL
April 22:  Rosemont, IL

Click here for more information and to register.
Three Community First® Fund Partners Named
The Community First® Fund is off to a busy start this year! The FHLBC has announced new partnerships with three community development financial institutions. Congratulations, Community First Fund partners! The FHLBC looks forward to working together to help grow strong communities!
Downpayment Plus® Programs Now Open
The FHLBC's 2015 Downpayment Plus® (DPP®) and Downpayment Plus Advantage® (DPP Advantage®) programs are now open with an allocation of $17 million. The DPP and DPP Advantage programs provide forgivable grants to assist income-eligible homebuyers with down payment and closing costs. Participating members may access up to $420,000—$6,000 per qualifying household—on a first-come, first-served basis. Members are encouraged to act now, as the 2014 allocation was reserved quickly. Click here to learn more.
Competitive Affordable Housing Program Opens April 27
The FHLBC recently announced a $29 million allocation for the 2015 competitive Affordable Housing Program (AHP). Applications for the 2015 competitive AHP round may be initiated in AHP Online starting Monday, April 27; the application deadline is 5:00 p.m. CT on Friday, June 26. Additional information and resources may be found on the AHP Program Policy and Forms webpage. Attend an AHP Application Training this month to learn more.
Community First® Award Winners
The FHLBC presented four Community First® Awards at its 2015 member meetings. The awards celebrate outstanding achievements of member institutions and their local partners as they work together to strengthen their communities. Read about the winners.
It's National Fair Housing Month!
April is National Fair Housing Month, and 2015 marks the 47th anniversary of the landmark 1968 Fair Housing Act. The FHLBC is proud to invest in inclusive programs and projects that create fair and equal access to housing choices for everyone.

Visit the U.S. Department of Housing and Urban Development’s Office of Fair Housing and Equal Opportunity for fair housing news and resources.
Advisory
Advisory Council Spotlight: Dalitso Sulamoyo, IACAA
In this Advisory Council Spotlight we introduce Dalitso Sulamoyo, president and CEO of the Illinois Association of Community Action Agencies (IACAA). IACAA is a membership organization of 40 not-for-profits and public entities that serve communities and the economically challenged citizens of Illinois through an array of services to children, families, and senior citizens. Dalitso is serving his first term on the Advisory Council.
Read More
Policy Corner
2015 Income Limits Now Available
The U.S. Department of Housing and Urban Development has released income limits for 2015. Effective March 16, 2015, these income limits are used to determine income eligibility for the FHLBC’s competitive Affordable Housing Program (AHP) and Downpayment Plus (DPP) Programs. New income limits are also available for the Community Investment Cash Advances (CICA) product. Please review the limits carefully as some counties saw increases while others saw decreases.
Amendment to the 2015 AHP Implementation Plan
The FHLBC’s board of directors recently approved an amendment to the 2015 Affordable Housing Program Implementation Plan. The amendment included incorporation of the development cost-per-unit guidelines for the competitive program, an increase to the allowable expense for homebuyer education and counseling, and references to numerous policies that are now available on the Bank’s website.
Calendar
FHLBC In Your Community
FHLBC staff spoke to members at a 2015 member meeting in Madison, Wisconsin, about the Bank’s community investment products and how they could be utilized to support local community development initiatives. Member meetings were also held in Oak Brook, Springfield, and O’Fallon, Illinois, as well as in Wausau, Wisconsin.
Upcoming Events
April 8: AHP Application Training | Bloomington, IL | Hosting 

April 14: AHP Application Training | Stevens Point, WI | Hosting

April 15: Milwaukee Awards for Neighborhood Development Innovation (MANDI) | Milwaukee, WI | Attending and Sponsoring

April 16: AHP Application Training | Milwaukee, WI | Hosting

April 21: AHP Application Training | Rosemont, IL | Hosting

April 22: AHP Application Training | Rosemont, IL | Hosting

May 7: Illinois Housing Council Networking Breakfast | Chicago, IL | Sponsoring and Presenting

May 11–13: CSH Supportive Housing Summit | Chicago, IL | Sponsoring and Presenting

June 11: National Housing Conference Annual Gala | Washington, DC | Sponsoring and Attending

June 18: Esperanza National Hispanic Prayer Breakfast | Washington, DC | Sponsoring and Attending

July 15: WISCAP’s A Home for Everyone Conference | Wausau, WI | Sponsoring and Attending

Additional events for FHLBC member institutions may be found on this webpage.
   
   
Helpful Links
AHP Online for Members
AHP Online for Sponsors
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Federal Home Loan Bank
of Chicago
200 East Randolph Drive
Chicago, IL 60601
www.fhlbc.com

This newsletter contains forward-looking statements which are based upon our current expectations and speak only as of the date hereof. These statements may use forward-looking terms, such as "anticipates," "believes," "expects," "could," "plans," "estimates," "may," "should," "will" or their negatives or other variations on these terms.We caution that, by their nature, forward-looking statements involve risk or uncertainty, that actual results could differ materially from those expressed or implied in these forward-looking statements, and that actual events could affect the extent to which a particular objective, projection, estimate, or prediction is realized. These forward-looking statements involve risks and uncertainties including, but not limited to, the risk factors set forth in our periodic filings with the Securities and Exchange Commission, which are available on our website at www.fhlbc.com.


Copyright © 2015, Federal Home Loan Bank of Chicago. “Downpayment Plus,” “DPP,” "Downpayment Plus Advantage," and "DPP Advantage" are registered trademarks of the Federal Home Loan Bank of Chicago. "Community First" is a registered trademark of the Federal Home Loan Bank of Chicago.