Federal Home Loan Bank of Chicago | Community Investment Newsletter | October 2015 Exciting Changes Ahead for Downpayment Plus® Programs Prior to the opening of the FHLBC’s 2016 Downpayment Plus® (DPP®) programs, all functionalities will be migrated to a new online system. In addition, the FHLBC will serve as the program administrator. Click here for additional details. Read More News Nominations Now Open for the Community Investment Advisory Council The FHLBC is accepting nominations through October 30 to its Community Investment Advisory Council. The Advisory Council is comprised of individuals who reside in Illinois and Wisconsin 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. Limited DPP® Funds Still Available The FHLBC opened its Downpayment Plus programs on March 17 with an initial allocation of $17.4 million. Since then, 214 member institutions have reserved approximately $16.4 million (94%) on behalf of more than 2,700 households. In 2015, each participating member may access up to $420,000 on a first-come, first-served basis until the allocation has been fully reserved. 2015 Competitive AHP Round Update The Community Investment staff is continuing to review the 146 applications that were submitted in our 2015 competitive Affordable Housing Program (AHP) round. Many applicants recently received a request for clarification; however, not being asked for clarification does not necessarily indicate a lack of competitiveness. We expect to make award announcements in early December. Calendar FHLBC In Your Community Open Doors: Southwick Place Congratulations to the Over the Rainbow Association on the completion and ribbon-cutting of Southwick Place. Located in Matteson, Illinois, the project includes 40 units of newly constructed rental housing for individuals with impaired mobility. The FHLBC awarded a $320,000 Affordable Housing Program grant to Southwick Place through BMO Harris Bank in 2013. Click here to view photos from the project. Upcoming Events October 5–6: National Alliance of Community Economic Development Associations Chicago, IL | Attending October 20: NHS of Chicago’s Annual Meeting Chicago, IL | Attending October 22: The Resurrection Project’s 25th Anniversary Gala Chicago, IL | Attending and Sponsoring November 5–6: Housing Action Illinois Annual Conference Bloomington, IL | Attending, Presenting, and Sponsoring November 9–12: Opportunity Finance Network Conference Detroit, MI | Attending November 17: Wisconsin Housing and Economic Development Authority’s Conference 2015 Madison, WI | Attending and Sponsoring November 19 –20: National Community Investment Fund’s Development Banking Conference Chicago, IL | Attending and Sponsoring December 1: Wisconsin Women’s Business Initiative Corporation’s Annual Luncheon Milwaukee, WI | Attending and Sponsoring     Helpful Links › AHP Online for Members › AHP Online for Sponsors Previous Editions › August 2015 › June 2015 Subscribe Printer Friendly 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.