 | | Federal Home Loan Bank of Chicago | Community Investment Newsletter | February 2017 | |
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2017 Affordable Housing Programs Announced
The FHLBC’s Board of Directors approved the 2017 Affordable Housing Program Implementation Plan (Plan). The Plan outlines requirements and guidelines applicable to the Bank’s Affordable Housing Program (AHP). AHP includes both the homeownership set-aside program (Downpayment Plus®) and the competitive program.
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 | | News |
| 2017 Downpayment Plus Programs Opening March 13 | | The FHLBC’s Downpayment Plus programs open for reservations on March 13. FHLBC members may reserve up to $420,000 in 2017 on a first-come, first-served basis to help their income-eligible customers with down payment and closing costs. Click here for more information, to enroll in the program, and to register for a DPP webinar. |
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| Learn About the 2017 AHP Program | Join FHLBC staff at a complimentary workshop to learn more about the competitive Affordable Housing Program. Topics covered will include eligibility, project feasibility, and the 2017 scoring guidelines. Space is available on a first-come, first-served basis. Potential AHP project sponsors, FHLBC member institutions, and development consultants are encouraged to attend. Register Here for a Workshop
Alternatively, those experienced with FHLBC's AHP program are encouraged to participate in a webinar that will summarize changes for 2017.
Register Here for a Webinar |
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| New in 2017: Newsletter Image Features FHLBC AHP Project | | New with this issue of the Community First® newsletter is a project that benefited from the competitive FHLBC's Affordable Housing Program (AHP). Be sure to check out the right-hand side navigation to learn more about each featured project. To submit your AHP project for consideration in a future newsletter, email project photos and a brief description to ci@fhlbc.com. |
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| Sneak Peak: 5th Avenue Lofts | FHLBC staff recently visited Kenosha, Wisconsin to film a video highlighting 5th Avenue Lofts, a mixed income 60-unit rental project. The FHLBC made a $720,000 Affordable Housing Program award to 5th Avenue Lofts; Bank Mutual is the member and Southport Services Corp. is the sponsor. Stay tuned for the completed video and accompanying project profile in the April newsletter.
Click here to see videos from other FHLBC AHP projects. |
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 | | Community First® Fund Partner Spotlight |
| Community Reinvestment Fund, USA | In 2016, CRF received a $5 million, 10-year loan from the Community First Fund, a revolving loan fund that provides direct support to CDFIs, community development loan funds, and state housing finance agencies serving Illinois and Wisconsin. In this Community First Fund Partner Spotlight, we talk to CRF’s Chief Operating Officer, Keith Rachey, about how this investment is helping his organization provide solutions for small businesses.
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 | | Advisory |
| Appointments to the Community Investment Advisory Council | | The FHLBC’s Board of Directors recently made appointments to the Community Investment Advisory Council. Click here to learn more. |
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 | | Calendar |
| Upcoming Events | | February 13 | Housing Action Illinois’s 30th Anniversary Celebration | | Chicago, IL | Attending | | February 28 | LISC Chicago’s Chicago Neighborhood Development Awards | | Chicago, IL | Attending and Sponsoring | | March 13-14 | Illinois Governor’s Conference on Affordable Housing | | Chicago, IL | Attending, Exhibiting, and Sponsoring | | March 16 | Neighborhood Housing Services of Chicago’s Annual Awards Dinner | | Chicago, IL | Attending and Sponsoring | | April 6 | LISC Milwaukee’s Milwaukee Awards for Neighborhood Development Innovation | | Milwaukee, WI | Attending and Sponsoring | | April 18 | FHLBC’s AHP Application Workshop | | Bloomington, IL | Hosting and Presenting | | April 25 | FHLBC’s AHP Application Workshop | | Wausau, WI | Hosting and Presenting | | April 26 | FHLBC’s AHP Application Workshop | | Madison, WI | Hosting and Presenting | | April 27 | FHLBC’s AHP Application Workshop | | Milwaukee, WI | Hosting and Presenting | | May 2 | FHLBC’s AHP Application Workshop | | Chicago, IL | Hosting and Presenting | | May 5 | FHLBC’s AHP Application Workshop | | Chicago, IL | Hosting and Presenting | | October 26-27 | Housing Action Illinois’s 2017 Housing Matters! Conference | | Bloomington, IL | Attending and Sponsoring | |
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| Rolling Prairie Apartments |
Location:
Freeport, Illinois
AHP award:
$192,000
Member:
BMO Harris Bank, National Association
Sponsor:
Accessible Space, Inc. |
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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 © 2017, Federal Home Loan Bank of Chicago. "Community First," "Downpayment Plus," "DPP," "Downpayment Plus Advantage," and "DPP Advantage" are registered trademarks of the Federal Home Loan Bank of Chicago.
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