 | | Federal Home Loan Bank of Chicago | Community Investment Newsletter | December 2019 | |
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| $27.7 Million Awarded Through 2019 Competitive Affordable Housing Program | The Federal Home Loan Bank of Chicago (FHLBank Chicago) announced that it has awarded $27.7 million in grants through the 2019 competitive Affordable Housing Program. Fifty awards were made to 37 member institutions and 34 sponsors to support the new construction, acquisition, and/or rehabilitation of 2,671 units of rental and owner-occupied housing. For more details, read the press release.
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 | | News |
| Katie Naftzger Named Community Investment Officer | | Katie Naftzger was recently named Community Investment Officer for the FHLBank Chicago. Katie has been with the Bank since 2002 and has served in a variety of roles within the Community Investment Group, most recently as Senior Policy Specialist. Congratulations, Katie! |
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| Community First® Award Nominations Now Open | | The annual Community First Awards recognize FHLBank Chicago member institutions and local partners for their work in building and strengthening communities. Nominations are accepted in four categories - Partnership, Project or Program, Pioneer, and Emerging Leader - and awardees identify a nonprofit organization to receive up to $10,000 on their behalf. The deadline for nominations is January 17, 2020. For more information on award categories and to submit a nomination, please see the nomination form. |
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| Disaster Relief Program Update | | On October 7, 2019, the FHLBank Chicago announced a $500,000 allocation to its Community First Disaster Relief Program to assist communities affected by DR-4459 in Wisconsin and DR-4461 in Illinois. Members may submit applications for grant assistance on behalf of eligible households and businesses through December 20 or until funds are fully reserved, whichever occurs first. Applications may be found under Resources on the Disaster Relief webpage. |
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| Guide for Project Management Updated | | The Guide for Project Management has been updated. Members and sponsors with AHP projects may review this guide for guidance on making changes in AHP Online, semi-annual progress reporting, extensions, and disbursements. |
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 | | Policy Corner |
| New Requirements for AHP Online and DPP Online Users | | Effective January 1, 2020, the FHLBank Chicago will require Microsoft Excel 2010 or newer for files uploaded to AHP Online and/or DPP Online. Microsoft no longer supports Office versions prior to 2010. This change will minimize security threats associated with older versions. Users are encouraged to obtain Microsoft Excel 2010 or a newer version prior to January 1 in order to upload worksheets in the system. |
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| 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 a comprehensive list of changes effective in 2020 and 2021, visit our AHP Modernization webpage. Significant changes to owner-occupied competitive AHP projects effective January 1, 2020 are summarized here; significant changes to the Downpayment Plus Program effective January 1, 2020 are summarized here. |
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 | | Advisory |
| Advisory Council Members Recognized for Service | | The FHLBank Chicago has recognized four professionals for completing a term of service on its Community Investment Advisory Council: Tom Landgraf, Jackie Newman, Sean O'Brien, and Valerie Johnson Renk. The Advisory Council consists of practitioners actively involved in providing or promoting affordable housing and/or community lending in Illinois or Wisconsin. The FHLBank Chicago expects to announce appointments to the 2020 Advisory Council soon. |
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| Reflections From the Advisory Council Leadership | 2019 has been a year of transition for the Community Investment Advisory Council. Many seasoned members completed their term on the Council, and others arrived, bringing new energy and points of view. We (Jackie and David) began our first year as chair and vice chair, respectively, and the opportunity to lead this group of accomplished professionals has been both thrilling and humbling. The diversity and breadth of knowledge, experience, and expertise they bring to the council from their work in communities across our district enriches the insights we contribute to the FHLBank Chicago’s Community Investment programs.
Read more from the chair and vice chair.
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 | | Calendar |
| Upcoming Events | | December 10 | Interfaith Housing Development Corporation's Annual Holiday Breakfast | | Chicago, IL | Attending and Sponsoring | | March 2-3 | Illinois Housing Council's 2020 Affordable Housing Forum | | Chicago, IL | Attending, Exhibiting, Speaking, and Sponsoring | | March 4 | Neighborhood Housing Services of Chicago's Annual Awards Dinner | | Chicago, IL ǀ Attending | | April 2 | LISC Milwaukee's Milwaukee Awards for Neighborhood Development Innovation | | Milwaukee, WI | Attending and Sponsoring | | April 23 | LISC Chicago's Chicago Neighborhood Development Awards | | Chicago, IL ǀ Attending, Judging, and Sponsoring | |
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| Arc of the Quad Cities Area Capital Expenditures |
Location: Rock Island and Moline, Illinois
AHP Award: $432,000
Member: Modern Woodmen of America
Sponsor: The Arc of the Quad Cities Area
Photo courtesy of The Arc of the Quad Cities Area
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| 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 © 2019, 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.
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