Eligible applicants include nonprofit and for-profit organizations providing career and talent development initiatives that support developers of affordable housing in FHLBank Chicago’s district of Illinois and Wisconsin. This may include regional and national organizations with a footprint in the district.

Examples of eligible applicants include:

• Development firms seeking to add talent to their team.
• Organizations providing programs/initiatives that support career development for individuals in the affordable housing industry.

Eligible uses for 2025 program funds:

• Fellowships/Internships: Grant funds must be used to support compensation for internships/fellowships that provide meaningful professional experience in affordable housing development industry.

Organizations that wish to apply for the Developer Program need to complete and submit an application in partnership with an FHLBank Chicago member (a list of members in Illinois and Wisconsin can be found on our website under Membership).

• Application will be posted under the Developer Program Resources section below and include two parts, application questions via a Microsoft Forms link and a PDF with support documentation.
• Microsoft Forms link will be included in the above mentioned PDF.
• PDF includes the following support documentation:
  • Budget with proposed use of funds
  • Timeline for implementation
    
• Support documentation PDF must be signed by the organization and FHLBank Chicago member institution and submitted to ci@fhlbc.com via the member.

• FHLBank Chicago will holistically review each application to determine which applicants best meet the objectives of the Developer Program.
• Specific evaluation factors include:
  • Mission Nexus: The strength of the organization in meeting its mission and objectives.
  • Scope and Impact: The scope and impact of the strategy to support career and talent development for developers of affordable housing, including feasibility of budget, timeline, and impact metrics.
  • Organizational Capacity: The ability of the applicant to execute on their strategy considering experience, staffing, and other resources dedicated to the proposal.
• FHLBank Chicago also seeks to balance awards amongst various member institutions and geographies served in Illinois and Wisconsin.

Grant recipients receive disbursement of grant funds through the FHLBank Chicago member with which they partnered on the application.

• Grant recipients are required to submit an impact report post-award.
• Reporting requirements include, at a minimum, a narrative describing progress and outcomes in addition to an updated budget detailing uses.
• Intern/fellow survey(s) - Optional

• Ongoing engagement is a component of the Developer Program.
• FHLBank Chicago may engage with beneficiary organizations post-award through networking, training, and event opportunities.

For questions and technical assistance, please contact Community Investment at ci@fhlbc.com.