 | | Federal Home Loan Bank of Chicago | Community Investment Newsletter | April 2017 | |
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| 2016 FHLBC Annual Report Now Available | | The FHLBC recently published its 2016 annual report; click here to read more about our performance and achievements. The report includes a video highlighting 5th Avenue Lofts, a competitive AHP project in Kenosha, Wisconsin. |
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 | | News |
| Downpayment Plus® Programs Now Open | | The FHLBC’s 2017 Downpayment Plus programs are now open with an allocation of $13.3 million. DPP® and DPP Advantage® provide forgivable grants to assist income-eligible homebuyers with down payment and closing costs. Participating members may access up to $6,000, based on a 3:1 match of the homebuyer's net contribution, per qualifying household on a first-come, first-served basis; the member limit remains $420,000. Click here for more information. |
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| Competitive Affordable Housing Program Opens May 8 | | The FHLBC recently announced a $24.6 million allocation for the 2017 competitive Affordable Housing Program (AHP). Click here for details and training opportunities. Applications for the 2017 competitive round may be initiated in AHP Online beginning Monday, May 8; the application deadline is 5:00 p.m. CT on Friday, June 16. |
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| FHLBC Announces Community First® Capacity-Building Grant | | On March 13, the FHLBC announced its new Community First® Capacity-Building Grant program. Through it, the Bank seeks to provide community development intermediaries with access to grant funds to build organizational capacity that supports meeting the economic development and affordable housing needs of communities in Illinois and Wisconsin. Read the press release and visit our website for more details. |
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| Community First® Disaster Relief Program Extended | | The FHLBC’s Community First® Disaster Relief Program has been extended until April 21 or when funds have been depleted, whichever comes first. A small number of grants still remain; availability is limited. Financial assistance is available through member financial institutions to individuals and businesses owners affected by FEMA-declared disasters in central and northern Wisconsin. Learn more here. |
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| Community First® Award Winners | | The FHLBC presented four Community First Awards at its 2017 member meetings. These awards celebrate outstanding achievements of member institutions and their local partners as they work together to strengthen communities. Read about the awardees. |
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| Connect with FHLBC on Social Media | | FHLBC is active on Facebook, Twitter, and LinkedIn. Follow FHLBC on each platform to learn about the Bank’s latest news, events, and opportunities. |
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 | | Advisory |
| Advisory Council Spotlight: Jackie L. Newman, Executive Director, Springfield Housing Authority | In this Advisory Council Spotlight, we introduce Jackie L. Newman, Executive Director of the Springfield Housing Authority, which has been providing quality housing for low- and moderate-income families in Springfield, Illinois, and the surrounding areas for over 75 years.
Read More |
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 | | Policy Corner |
| 2017 AHP Implementation Plan Amended | | The Affordable Housing Committee of the Bank’s Board of Directors approved an amendment to the 2017 Affordable Housing Program Implementation Plan that incorporated the development cost-per-unit guidelines for the 2017 competitive AHP round. |
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| Community Support Program System Now Available | Members of the FHLBC are required to submit a Community Support Statement to the Federal Housing Finance Agency (FHFA) every two years. The 2017 Community Support Program (CSP) review opened on April 1, 2017 with the launching of the FHFA’s new online CSP system.
FHLBC members subject to Community Support review must submit a Community Support Statement using the CSP system by December 31, 2017. Information on the Community Support review, including a list of FHLBC members subject to Community Support review in 2017 and tips for completing the Community Support Statement online, can be found on the FHLBC’s website. |
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| Affordable Housing Program Policy Updates | | The FHLBC’s Board of Directors approved updated competitive Affordable Housing Program (AHP) policies in conjunction with the Community Investment Group’s annual policy review. The policies set forth certain requirements applicable to AHP projects. If you have an AHP project or are planning to submit an application in the upcoming competitive round, please familiarize yourself with the updated policies. The policies are effective March 24, 2017 and apply to all AHP projects. |
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 | | Calendar |
| FHLBC In Your Community | | View photos from recent events attended by FHLBC staff. |
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| Upcoming Events | | April 6 | LISC Milwaukee’s Milwaukee Awards for Neighborhood Development Innovation | | Milwaukee, WI | Attending and Sponsoring | | April 18 | FHLBC’s AHP Application Workshop | | Bloomington, IL | Hosting and Presenting | | April 25 | FHLBC’s AHP Application Workshop | | Wausau, WI | Hosting and Presenting | | April 26 | FHLBC’s AHP Application Workshop | | Madison, WI | Hosting and Presenting | | April 27 | FHLBC’s AHP Application Workshop | | Milwaukee, WI | Hosting and Presenting | | May 2 | FHLBC’s AHP Application Workshop | | Chicago, IL | Hosting and Presenting | | May 5 | FHLBC’s AHP Application Workshop | | Chicago, IL | Hosting and Presenting | | May 18 | Illinois Housing Council’s Networking Breakfast | | Chicago, IL | Attending, Presenting, and Sponsoring | | July 19-20 | Wisconsin Collaborative for Affordable Housing’s A Home for Everyone Conference | | La Crosse, WI | Attending and Sponsoring | | September 12 | WHEDA’s Annual Conference | | Madison, WI | Attending, Exhibiting, and Sponsoring | | October 4 | WHEDA’s Homeownership Conference | | Wisconsin Dells, WI | Attending, Presenting, and Sponsoring | | October 26-27 | Housing Action Illinois’s 2017 Housing Matters! Conference | | Bloomington, IL | Attending and Sponsoring | |
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| ReStart Inc. |
Location: Kansas City, Missouri
AHP award: $700,000
Member: IFF
Sponsor: ReStart Inc. |
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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 © 2017, Federal Home Loan Bank of Chicago. "Community First," "Downpayment Plus," "DPP," "Downpayment Plus Advantage," and "DPP Advantage" are registered trademarks of the Federal Home Loan Bank of Chicago.
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