|Federal Home Loan Bank of Chicago | Community Investment Newsletter | October 2019|
|Nominations Now Open for the Community Investment Advisory Council|
|The FHLBank Chicago is accepting nominations to its Community Investment Advisory Council through October 31. 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.|
|Community First® Disaster Relief Program|
|The FHLBank Chicago announced a $500,000 allocation to its Community First Disaster Relief Program; to assist communities affected by severe storms, tornadoes, straight-line winds, and flooding in Wisconsin and to support communities affected by severe storms and flooding in Illinois. FHLBank Chicago members can submit applications for grant assistance on behalf of eligible households and businesses through December 20, 2019 so long as funds are available. For more information and a list of counties in the declared disaster areas, please read our recent press release. |
|2019 Competitive AHP Round Update|
|Community Investment staff continues to review the 71 applications that were submitted in our 2019 competitive Affordable Housing Program 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.|
|Final AHP Rule Implementation|
|On November 28, 2018, the Federal Housing Finance Agency (FHFA) published its amended regulation (Final AHP Rule) giving the FHLBanks greater flexibility to identify and respond to the unique needs of their Districts. For an overview of the Final AHP Rule and comprehensive list of changes, visit our AHP Modernization webpage. Stay tuned for communications later this month detailing specific changes to owner-occupied AHP projects and the Downpayment Plus programs. |
|Deadline for Community Support Statements is October 31|
|Many FHLBank Chicago members are required to submit a Community Support Statement to the Federal Housing Finance Agency every two years. The 2019 Community Support Program (CSP) opened on April 1, 2019. Members subject to Community Support review must submit their Community Support Statement by October 31, 2019 using the online CSP system. More information on Community Support review, including a list of members subject to review in 2019, can be found on our Community Support Program webpage. Please contact us at 312-565-5824 or CommunitySupportProgram@fhlbc.com with any questions.|
|Franklin School Apartments|
|Location: Rice Lake, Wisconsin|
AHP award: $360,000
Member: Johnson Bank
Sponsor: Impact Seven, Inc.
Photo courtesy of Impact Seven, Inc.
|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.
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