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. News 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 Calendar 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. Previous Editions › June 2018 › April 2018 Subscribe Printer Friendly   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.