Federal Home Loan Bank of Chicago | Community Investment Newsletter | December 2020
$24.8 Million Awarded Through 2020 Competitive Affordable Housing Program
The Federal Home Loan Bank of Chicago (FHLBank Chicago) announced that it has awarded $24.8 million in grants through the 2020 competitive Affordable Housing Program. 44 awards were made to support the new construction, acquisition, and/or rehabilitation of over 2,000 units of rental and owner-occupied housing. For more details, read the announcement.
News
2021 Downpayment Plus® Program
The 2021 Downpayment Plus (DPP®) and Downpayment Plus Advantage® (DPP Advantage®) programs will open Tuesday, January 19. In 2021, participating members may reserve up to $420,000 in the general pool on a first-come, first-served basis to help their income-eligible borrowers with down payment and closing costs. There is no limit in the DPP Advantage pool. Learn about key changes to the 2021 programs by reading our recent bulletin and registering for a 2021 DPP webinar. Contact 312-565-5824 or dpp@fhlbc.com with any questions. 
FHLBank Chicago Targeted Impact Fund
FHLBank Chicago’s Targeted Impact Fund provided our members with grants to support relief efforts for populations hardest-hit by COVID-19 as well as to promote equity and opportunity for communities of color. Between August 10 and November 13, 76% of our members utilized the program, providing nearly $9.8 million to beneficiaries throughout Illinois and Wisconsin. Learn more about FHLBank Chicago’s response to COVID-19 through our COVID-19 Resource Center.
Policy Corner
2021 Affordable Housing Program Announced
FHLBank Chicago’s Board of Directors recently approved the 2021 Affordable Housing Program (AHP) Implementation Plan (Plan). The Plan outlines requirements and guidelines applicable to the Downpayment Plus programs and the AHP General Fund. Read more.
 
Advisory Council Spotlight
Introducing the 2021 Community Investment Advisory Council
FHLBank Chicago’s Board of Directors recently made appointments and reappointments to the Community Investment Advisory Council. Read more about the new and returning members. We are excited to begin working with these affordable housing and community lending leaders!
    
   
Project Spotlight:
Thorncreek Senior Living
Location: Thornton, Illinois

AHP award: $610,000

Member: MB Financial Bank, National Association

Sponsor: Turnstone Development Corporation

Photo credit to Trent Albert at Albert Photographic
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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.