Federal Home Loan Bank of Chicago | Community Investment Newsletter | June 2020 Competitive AHP Round Open The FHLBank Chicago’s 2020 competitive Affordable Housing Program (AHP) opened on May 4 and closes on June 12. Sponsors are encouraged to reference the Guide for Sponsor Applicants and members are encouraged to reference the Guide for Member Applicants when completing their applications. Recorded webinars are available as well. Please contact 312-565-5824 or ci@fhlbc.com with any application-related questions. News COVID-19 Relief Program In April, the Board of Directors of FHLBank Chicago approved approximately $30 million for a COVID-19 Relief Program to support member institutions and the communities they serve in Illinois and Wisconsin. Between April 27 and May 22, 668 members utilized the program, either by taking a zero percent advance and/or accessing grant funding to support small business and nonprofit beneficiaries. Learn more about FHLBank Chicago’s response to COVID-19 through our COVID-19 Resource Center.   Downpayment Plus® Program Update FHLBank Chicago’s 2020 Downpayment Plus (DPP®) and Downpayment Plus Advantage® (DPP Advantage®) programs opened on January 13. So far this year, participating members have reserved $8.4 million on behalf of more than 1,500 homebuyers. The annual member limit remains $420,000, available on a first-come, first-served basis as long as funds are available.      Capacity-Building Grant Program Update FHLBank Chicago accepted applications for its 2020 Community First® Capacity-Building Grant Program between April 6 and May 22. 23 member institutions submitted a total of 35 applications in partnership with nonprofit lenders. Following initial review, the FHLBank Chicago will request additional information from select applicants. Award recipients will be announced in August.    Policy Corner 2020 HUD Income Limits The United States Department of Housing and Urban Development (HUD) has released income limits for 2020. Effective April 10, these limits are used to determine income eligibility for the competitive AHP, DPP, and Community Advances. Visit our HUD Income Guidelines webpage for more information and resources       Project Spotlight: Grand View Townhomes Location: Appleton, Wisconsin AHP Award: $600,000 Member: Associated Bank, National Association Sponsor: Appleton Housing Authority Photo courtesy of Appleton Housing Authority   Previous Editions › April 2020 › February 2020 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 © 2020, Federal Home Loan Bank of Chicago. "Community First," "Downpayment Plus," "DPP," "Downpayment Plus Advantage," "DPP Advantage," "Mortgage Partnership Finance," and "MPF"  are registered trademarks of the Federal Home Loan Bank of Chicago.