2018 Competitive AHP Applications: By the Numbers 

June 22, 2018

First and foremost, thank you to our members and their partners for submitting applications in the 2018 competitive Affordable Housing Program (AHP) round.

For 28 years, members of the Federal Home Loan Bank of Chicago (FHLBank Chicago) have worked with community developers and public agencies to apply for AHP subsidies. 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.

Some member and sponsor applicants will receive a request for clarification during one of the following weeks: July 30, August 27, or September 17. The date on which a clarification request is sent is not an indication of competitiveness, nor will all applicants receive a request for clarification.

Highlights

1. 45 members and 63 sponsors jointly submitted 91 applications.
2. Approximately $51.8 million in competitive AHP subsidies was requested to support the construction, acquisition, and/or rehabilitation of 4,747 housing units.
3. The FHLBank Chicago expects to award $25.1 million this year.
4. The applications by project location were distributed between Illinois (32) and Wisconsin (48), plus 11 from outside the district.
5. 70 of the applications submitted were for rental projects and 21 were for homeownership projects.
6. The total development cost for the 91 projects is more than $893 million.
7. The average subsidy requested was $569,655.
8. All applicants will be notified of the status of their application in early December.
9. In 2017, 117 applications requesting nearly $61 million were submitted, and ultimately $26.4 million was awarded.
10. Since 1989, the FHLBank Chicago has awarded approximately $427.5 million in competitive AHP subsidies to support more than 79,000 housing units.

Federal Home Loan Bank of Chicago
200 East Randolph Drive
Chicago, IL 60601
www.fhlbc.com
Copyright © 2018, 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.
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," and "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. We assume no obligation to update any forward-looking statements made in this newsletter.

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