April 2016
2015 FHLBC Annual Report Now Available The FHLBC recently published its 2015 annual report. It was a great year for the Bank and its members; click here to read more about it. The report includes a short video featuring an Affordable Housing Program project – Southwick Place.   News Downpayment Plus® Programs Now Open The FHLBC’s 2016 Downpayment Plus (DPP®) and Downpayment Plus Advantage (DPP Advantage®) programs are now open with an allocation of $15.3 million. The DPP and DPP Advantage programs provide forgivable grants to assist income-eligible homebuyers with down payment and closing costs. Participating members may access $6,000 per qualifying household – up to an institutional maximum of $420,000 – on a first-come, first-served basis.   Competitive Affordable Housing Program Opens April 18 The FHLBC recently announced a $25.5 million allocation for the 2016 competitive Affordable Housing Program (AHP). Applications for the 2016 competitive AHP round may be initiated in AHP Online starting Monday, April 18; the application deadline is 5:00 p.m. CT on Friday, June 17. Additional information and resources may be found on the AHP Program Policy and Forms webpage.   Community First® Award Winners The FHLBC presented four Community First Awards at its 2016 member meetings. The awards celebrate outstanding achievements of member institutions and their local partners as they work together to strengthen their communities.   It’s National Fair Housing Month April is National Fair Housing Month and 2016 marks the 48th anniversary of the landmark 1968 Fair Housing Act. The FHLBC is proud to invest in inclusive programs and projects that create fair and equal access to housing choices for everyone.  Visit the U.S. Department of Housing and Urban Development’s Office of Fair Housing and Equal Opportunity for fair housing news and resources.   Community First® Fund Partner Spotlight The Community First Fund (CFF) is 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. The CFF is the first of its kind in the Federal Home Loan Bank system and is unique to the FHLBC.   To date, $39.75 million has been committed to seven partners. In this CFF Partner Spotlight, we introduce IFF.   Policy Corner 2016 Income Limits Now Available The U.S. Department of Housing and Urban Development has released income limits for 2016. Effective April 18, 2016, these limits are used to determine income eligibility for the FHLBC’s competitive Affordable Housing Program and Downpayment Plus programs. New income limits are also available for the Community Investment Cash Advance product.   2016 AHP Implementation Plan Amended The Affordable Housing Committee of the Bank’s Board of Directors approved an amendment to the 2016 Affordable Housing Program Implementation Plan.   Affordable Housing Program Policy Updates The FHLBC’s Board of Directors has approved updated competitive Affordable Housing Program (AHP) policies in conjunction with the Community Investment Group’s annual policy review. The policies set forth certain requirements applicable to AHP projects. If you have an AHP project or are planning to submit an application in the upcoming competitive round, please familiarize yourself with the updated policies. The policies are effective April 18, 2016 and apply to all AHP projects.   Calendar Upcoming Events May 10 Wisconsin Housing & Economic Development Authority’s Homeownership Conference  Wisconsin Dells, WI | Attending, Exhibiting, and Sponsoring May 17 Illinois Housing Council’s Networking Breakfast  Chicago, IL | Attending, Presenting, and Sponsoring June 8-10 CSH’s National Supportive Housing Summit  Chicago, IL | Attending and Sponsoring July 13-14  Wisconsin Collaborative for Affordable Housing’s A Home for Everyone Conference  Appleton, WI | Attending and Sponsoring				Helpful Links › AHP Online for Members › AHP Online for Sponsors

 

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.