For 24 years, FHLBC member institutions have partnered with community developers and public agencies to apply for Affordable Housing Program (AHP) subsidies. These competitive grants are awarded to the highest-scoring projects through a competitive process, and are awarded until funds are exhausted.
This year brought an exciting change to the program. The FHLBC successfully launched the new AHP Online system which enabled both our members and sponsors to apply online without submitting any paper copies.
On Friday, June 28, 2013, the 2013 competitive AHP round closed with a total of 143 applications received and a total subsidy request of $43,945,195. We anticipate that award announcements will be made at the end of November 2013.
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| 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. We assume no obligation to update any forward-looking statements made in this newsletter. |
