Federal Home Loan Bank of Chicago | Community Investment Newsletter | August 2018
FHLBank Chicago Introduces the
Community Small Business Advance
The Federal Home Loan Bank of Chicago recently launched its Community Small Business Advance, which provides deeply discounted financing for members’ small business lending in low- to moderate-income communities within the FHLBank Chicago’s district. This new product combines competitive pricing with support for local economies and community revitalization efforts. To learn more, visit our website.
FHLBank Chicago Announces Capacity-Building Grant Awards
On August 1, the FHLBank Chicago announced the 2018 award recipients of its Community First® Capacity-Building Grant Program. Seven organizations, in partnership with member institutions,
were awarded a total of $250,000 to strengthen their financial position, operational efficiency, and/or human capital. Applicants were evaluated based on their mission, strategy to increase lending, organizational strength, proposed use of grant funds, and plans for outcome reporting. To learn more about the award recipients, read the press release.
DPP® Funds Still Available
The FHLBank Chicago’s 2018 Downpayment Plus® (DPP) and Downpayment Plus Advantage® (DPP Advantage®) programs opened on March 12 with an allocation of $14.2 million. Since then, participating members have reserved $13.2 million on behalf of 2,300 homebuyers. Due to popular demand, the Bank allocated an additional $1.5 million to the general pool, thereby creating opportunities to serve even more homebuyers. The annual member limit remains at $420,000, available 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.
2018 Competitive AHP Applications: By the Numbers
For 28 years, members of the FHLBank Chicago have partnered with community developers and public agencies to apply for competitive Affordable Housing Program (AHP) subsidies. Each year, these grants are awarded to the highest-scoring projects through a competitive process until the funds are exhausted. The 2018 competitive round closed on June 15 with 91 applications submitted by 45 members in partnership with 63 sponsors. Read more application-related statistics.
Unique CRA Opportunity: 
HAI Launches the Community Revitalization Challenge
Housing Action Illinois (HAI) – a statewide membership organization that works to protect and expand the availability of quality, affordable housing – has announced its new Community Revitalization Challenge (CRC), which connects community-based organizations with financial institutions to design and launch projects that increase access to affordable housing across Illinois.
Read More
Upcoming Events
August 21 Wisconsin Housing and Economic Development Authority’s Annual Conference
Madison, WI | Attending, Exhibiting, and Sponsoring
September 12 Metropolitan Planning Council’s Annual Luncheon
Chicago, IL | Attending
September 13 Illinois Housing Council’s Fall Mixer
Chicago, IL | Attending
September 26 Mercy Housing Lakefront’s Moving Forward Together
Chicago, IL | Attending and Sponsoring
October 4 Accion Chicago’s Taste of Accion
Chicago, IL | Attending
October 8–11 Opportunity Finance Network’s Annual Conference
Chicago, IL | Attending
October 25–26 Housing Action Illinois’ 2018 Housing Matters! Conference
Bloomington, IL | Attending and Sponsoring
Project Spotlight:
Nathalie Salmon House
Location: Chicago, Illinois

AHP award: $810,000

Member: MB Financial Bank, N.A.

Sponsor: Housing Opportunities & Maintenance for the Elderly

Above photo credit: Rogers Park Chamber of Commerce (rogerspark.cc)
FHLBank Chicago in Your Community
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
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.