FHLBC - Community First

2015 Competitive AHP Applications: By the Numbers

July 2, 2015

For 25 years, FHLBC member institutions 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 2015 competitive AHP round closed on June 26.

Some member and sponsor applicants will receive a request for clarifications during one of the following weeks:

August 3, August 31, or September 21. The date on which a clarification is received is not an indicaton of competitiveness, nor will all applicants receive a request for clarifications.

Highlights

1. 65 members and 104 sponsors jointly submitted 146 applications.

2. More than $77 million was requested for the construction, acquisition, and/or rehabilitation of 7,630
housing units.

3. The FHLBC expects to award $29 million this year. This is nearly 35% more than what was awarded in

2014 and is the largest single round allocation in the history of the program.

4. Awards will be announced in early December.

5. The applications by project location were distributed between Illinois (63) and Wisconsin (74), plus 9 from
out-of-district.

6. 104 of the applications submitted were for rental projects and 42 were for owner-occupied projects.

7. The total development cost for the 146 projects is almost $1.4 billion.

8. The average subsidy requested was $529,355.

9. In 2014, 120 applications were submitted requesting approximately $54 million and approximately $21.9 million
was awarded.

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.