| Federal Home Loan Bank of Chicago | Community Investment Newsletter | October 2017 | |
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Nominations Now Open for the Community Investment Advisory Council | The Federal Home Loan Bank of Chicago is accepting nominations to its Community Investment Advisory Council through October 13; nominees representing rural communities are strongly encouraged. The Advisory Council is composed of individuals who reside in the district and are actively engaged in affordable housing and/or community lending activities. Advisory Council members are appointed by the FHLBank Chicago’s Board of Directors and serve three-year terms. Click here for the nomination form. |
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DPP® Funds Still Available | The FHLBank Chicago opened its Downpayment Plus® (DPP) programs on March 13 with an allocation of $13.3 million. Since then, the Bank has made additional contributions of $3.5 million. So far this year, participating members have reserved $14.5 million on behalf of more than 2,500 homebuyers. In 2017, each participating member may access up to $420,000 on a first-come, first-served basis until the funds have been reserved. Contact us at 312-565-5824 or dpp@fhlbc.com with any questions. |
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In Case You Missed It: CICA Webinar | On August 31, the Community Investment Group presented an overview of Community Investment Cash Advances (CICA) during the FHLBank Chicago’s Weekly Market Update webinar. The Community Investment Program (CIP) advance is available to members that make loans to finance eligible affordable housing; the Community Economic Development Advance (CEDA) is available to members that make loans to finance eligible economic development projects. Benefits to FHLBank Chicago members include interest-rate savings for a variety of available advances as well as letters of credit. Information was provided regarding automatic approval of member economic development lending in certain counties based on tract median income or FEMA/state disaster declaration. This is particularly important for members in northern and central Wisconsin and northern Illinois that are lending to businesses affected by floods in 2016 and 2017. The webinar is available to members on the eBanking website in the Knowledge Center. |
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Coming Soon: The New FHLBank Chicago Website | The FHLBank Chicago is preparing to debut its new website later this month. While the web address will remain the same (www.fhlbc.com), the site will be refreshed and streamlined, with an all-new Community Investment section. The redesign includes user-friendly touches—such as simpler navigation throughout the site and an AHP Online login button on every Community Investment page—as well as helpful features like a search tool that allows visitors to find out how a given city, county, or state has benefited from competitive Affordable Housing Program (AHP) and DPP grants. Watch for further announcements as the launch approaches. |
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2017 Competitive AHP Round Update | Community Investment staff continue to review the 117 applications that were submitted in our 2017 competitive AHP round. Many applicants have received a request for clarification; however, not being asked for clarification does not necessarily indicate a lack of competitiveness. We expect to make award announcements in early December. |
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Final NIS Training in the District | In September, NeighborWorks delivered the final place-based training sponsored by the FHLBank Chicago in 2017. The course, Homeownership Counseling Certification: Principles, Practices and Techniques, Part I, which is required for organizations to fully adopt the National Industry Standards for Homeownership Education and Counseling (NIS), was offered in both Chicago and Madison. A total of 37 individuals attended, representing 27 unique organizations. The FHLBank Chicago is committed to expanding the network of quality homeownership educators and counselors working in our district. Thank you to NeighborWorks and all who participated. Click here to see class photos. |
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National Conference Coming to Milwaukee | The Center for Community Progress’ Reclaiming Vacant Properties Conference is a national conference focused on innovative solutions for vacant, abandoned, and deteriorated properties. It is expected to draw approximately 1,000 professionals to Milwaukee on May 15–17, 2018, for more than 60 engaging sessions and other learning opportunities. In addition to traditional conference sessions, mobile workshops will take participants into Milwaukee to learn from the leaders who are working to revitalize its distressed neighborhoods. The FHLBank Chicago is proud to be a sponsor of this important event. |
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Veterans Manor Green Bay |
Location: Green Bay, Wisconsin AHP award: $300,000 Member: Bank Mutual Sponsor: Center for Veterans Issues |
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FHLBank Chicago in Your Community |
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View photos from recent events attended by FHLBank Chicago staff. |
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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 © 2018, 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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