 | | Federal Home Loan Bank of Chicago | Community Investment Newsletter | April 2020 | |
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| 2019 Annual Report: Making Moves Together | The FHLBank Chicago recently published its 2019 Annual Report, which highlights how we support our members, partners, and the communities they serve. Learn how the Community First® Disaster Relief Program helped a small town in Wisconsin, how our members and partners preserve affordable rental housing in Chicago’s Pilsen neighborhood, and more.
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 | | News |
| Now Accepting Capacity-Building Grant Applications | | The FHLBank Chicago is now accepting applications for its Community First® Capacity Building Grant Program. Nonprofit lenders with a footprint in Illinois and Wisconsin may apply for up to $50,000 in grant funds, through FHLBank Chicago members, to strengthen their financial position, operational efficiency, and/or human capital. The application deadline is Friday, May 1. Read the application for more details and program guidelines. |
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| Community First Awardees | | The FHLBank Chicago recently announced 2020 Community First Awards recipients. These awards celebrate outstanding achievements of member institutions and their local partners as they work together to strengthen their communities. Awardees identify a nonprofit organization to receive up to $10,000 on their behalf. Read more about the awardees. |
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 | | Policy Corner |
| Repayment Changes | | The FHLBank Chicago allows members to use a proxy method, based on the United States Department of Housing and Urban Development (HUD) sales price data, to determine forgiveness opportunities for DPP grants and competitive AHP grants for owner-occupied acquisition-only and acquisition/rehabilitation units. The repayment worksheet has been updated to reflect HUD’s new sales price data. To learn more, read our recent advisories. |
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| Community Lending Plan Amended | | The FHLBank Chicago Board of Directors recently approved amendments to the 2020 Community Lending Plan. The Community Lending Plan uses market research to assess affordable housing and economic development needs in Illinois and Wisconsin. The recent amendment adds updated market research data in addition to qualitative and quantitative goals. |
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| East Park SRO |
Location: Chicago, Illinois
AHP Award: $850,000
Member: CIBC Bank USA
Sponsor: Generations Housing Initiatives
Photo Credit: Chuck Gullett
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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 © 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.
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