 | | Federal Home Loan Bank of Chicago | Community Investment Newsletter | August 2016 | |
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2016 Competitive AHP Applications: By the Numbers
For 26 years, members of the Federal Home Loan Bank of Chicago have partnered with community developers and public agencies to apply for Affordable Housing Program (AHP) subsidies. These grants are awarded to the highest-scoring projects through a competitive process until the funds are exhausted. The 2016 competitive round closed on June 17. Click here for some application-related statistics. |
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 | | News |
| Accion Chicago Named Community First® Fund Partner | | The FHLBC announced last month that Accion Chicago, a nonprofit community development financial institution (CDFI) supporting small business in the Chicagoland area, was named a partner of the Community First Fund and is a recipient of a $1.25 million, 10-year loan. Click here to read the press release. |
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| Limited DPP® Funds Still Available | | The FHLBC opened its Downpayment Plus® (DPP) programs on March 14 with an allocation of $15.3 million. Since then, participating members have reserved $12.1 million (83%) in the General Pool on behalf of more than 2,000 households. $215,000 (27%) has been reserved in the DPP Advantage Pool. In 2016, each participating member may access up to $420,000 on a first-come, first-served basis until the allocation has been reserved. Contact 312-565-5824 or dpp@fhlbc.com with any questions. |
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| FHLBC in Your Community | | Click here to view photos of projects opened recently with the help of the Federal Home Loan Bank of Chicago’s Affordable Housing Program. |
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 | | Community First® Fund Partner Spotlight |
| Community Investment Corporation | In 1974, a group of Chicago-area financial institutions formed Community Investment Corporation (CIC) to address the disinvestment and decline they were seeing in many of the city’s neighborhoods. Today, CIC is the Chicago area’s leading lender for the acquisition and rehabilitation of affordable multi-family housing, specializing in privately owned and operated buildings.
Recently, CIC received a $9 million, 10-year loan from the Community First Fund, a revolving loan fund that provides direct support to community development financial institutions, community development loan funds, and state housing finance agencies serving Illinois and Wisconsin. In this Community First Fund Partner Spotlight, we ask CIC President Jack Markowski for his thoughts on the organization and its partnership with the Community First Fund.
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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 © 2016, 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.
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