August 2017  August 2017
FHLBC Announces Capacity-Building Grant Awards
On August 1, the FHLBC announced the 2017 award recipients of the new Community First® Capacity-Building Grant Program. Six organizations were awarded a total of $250,000 to build their financial, operational, and human capital. Applicants were evaluated based on mission, strategy to increase lending, organizational strength, proposed use of grant funds, and plans for outcome reporting. To learn more about the award recipients, read the press release.
 
News
DPP® Funds Still Available
The FHLBC opened its Downpayment Plus® (DPP) programs on March 13 with an allocation of
$13.3 million. Since then, participating members have reserved $11 million on behalf of more than 1,900 homebuyers. Due to popular demand the Bank recently allocated an additional $2 million to the general pool, thereby creating opportunities to serve even more homebuyers. The member limit remains at $420,000 on a first-come, first-served basis until the funds have been reserved. Contact us at 312-565-5824 or dpp@fhlbc.com with any questions.
 
2017 Competitive AHP Applications: By the Numbers
For 27 years, members of the Federal Home Loan Bank of Chicago have partnered with community developers and public agencies to apply for Affordable Housing Program (AHP) subsidies. These grants are awarded to the highest-scoring projects through a competitive process until the funds are exhausted. The 2017 competitive round closed on June 16. Click here for some application-related statistics. 
 
FHLBC Invests in Homeownership Education
In July, the FHLBC sponsored the first of two place-based trainings delivered by NeighborWorks. The first course offering, Homebuyer Education Methods: Training the Trainer, was delivered in both Chicago and Madison. A total of 37 individuals attended representing 27 unique organizations. This course, along with Homeownership Counseling Certification: Principles, Practices and Techniques, Part I, which will be offered in both Chicago and Madison in September, is required for organizations to fully adopt the National Industry Standards for Homeownership Education and Counseling (NIS). The FHLBC is committed to expanding and strengthening the network of quality homeownership educators and counselors working in our district. Click here to see class photos. 
 
Policy Corner
FHFA Community Support Statements
Members of the FHLBC are required to submit a Community Support Statement (CSS) to the Federal Housing Finance Agency (FHFA) every two years. The 2017 Community Support Program (CSP) review opened on April 1, 2017, and FHLBC members subject to Community Support review must submit a CSS 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.
 
Advisory
Advisory Council Spotlight: Audra Hamernik, Executive Director, Illinois Housing Development Authority
In this Advisory Council Spotlight, we introduce Audra Hamernik, Executive Director of the Illinois Housing Development Authority (IHDA). Since the state legislature created IHDA in 1967, it has operated as a self-supporting agency with the mission of financing the creation and preservation of affordable housing. Even with 50 years of experience, IHDA is still finding new ways to expand its product offerings and extend its reach. 
 
Calendar
Upcoming Events 
September 12 WHEDA’s Annual Conference
Madison, WI | Attending, Exhibiting, and Sponsoring
September 14 Illinois Housing Council’s Fall Mixer
Chicago, IL | Attending
September 26–28         Opportunity Finance Network’s Conference
Washington, DC | Attending
October 3–4 WHEDA’s Single Family Homeownership Conference
Wisconsin Dells, WI | Attending, Exhibiting, Presenting, and Sponsoring
October 26–27 Housing Action Illinois’ 2017 Housing Matters! Conference
Bloomington, IL | Attending and Sponsoring
 
Project Spotlight:
Gilmore Estates Senior Apartments
Location: Jacksonville, Illinois
 
AHP award: $200,000
 
Member: Town and Country Bank

Sponsor: Morgan County Civic Services
 
FHLBC in Your Community

View photos from recent events attended by FHLBC staff.
   

 
 
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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