The FHLBC Board of Directors recently approved an amendment to the Bank’s 2013 Affordable Housing Program Implementation Plan. The previously approved Plan included a ‘placeholder’ in Exhibit 1 (Project Feasibility and Cost Guidelines) for development cost-per-unit guidelines.
The development cost-per-unit guidelines for 2013 are:
Bank staff will apply limits established by the applicable Federal Home Loan Bank for out-of-district projects. Counties included in the Chicago Metropolitan Statistical Area (MSA) are Cook, DeKalb, DuPage, Grundy, Kane, Lake, McHenry, and Will.
The Plan now references the ‘Chicago Metropolitan Statistical Area’, which results in the addition of DeKalb County. To access the amended 2013 AHP Implementation Plan, please click here.
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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. |
