2020 Affordable Housing Program Updates

  • April 9, 2020

We hope you are staying healthy and safe while we weather the Coronavirus outbreak together. During these unprecedented times, our commitment to ensuring sponsors and Federal Home Loan Bank of Chicago (FHLBank Chicago) members have access to the information needed to submit successful applications in the 2020 competitive Affordable Housing Program (AHP) round remains. Please read the following for a comprehensive list of updates related to the 2020 AHP.

Application Period
The dates for the 2020 competitive AHP round remain unchanged. Applications may be initiated in AHP Online beginning Monday, May 4. The application deadline is 5:00 p.m. CT on Friday, June 12. We anticipate making award announcements in early November. Please be aware that during the application period, AHP Online will be unavailable the following dates: Saturday, May 9; Saturday, May 16; Saturday, June 6, and Sunday, June 7.

AHP Implementation Plan Amendment
We have amended the Project Feasibility and Cost Guidelines section of the 2020 Implementation Plan. Section 3: Committed Financing has been amended to read:

“For rental projects utilizing the 9% Federal Low Income Housing Tax Credit (LIHTC), the member/sponsor must provide 1) evidence of a 2020 or prior LIHTC award, and 2) a letter of interest or intent for the LIHTC equity. If these two items are not available as of the June 12 AHP application deadline, then they must be submitted to the FHLBank Chicago within one calendar week of notification by the tax credit allocating agency of the LIHTC award.”

Workshops
Since we are not able to gather together this spring at our AHP Workshops, our team has developed a series of recorded webinars that can be accessed on fhlbc.com beginning April 13; these webinars will be available for the duration of the application period. The webinar topics include: Program Overview and Eligibility, Scoring, Feasibility, and Post-Award Compliance. Additionally, there will be a webinar titled "Key Changes for 2020" that will only cover significant program changes.

Online Resources
Many resources to prepare applicants for the 2020 AHP round are now available on our website. These resources include the 2020 Guide for Sponsor Applicants and 2020 Guide for Member Applicants, as well as many of the 2020 AHP Application Exhibits. (Please note that the 2020 Financial Feasibility Workbook and Tenant Income Worksheets will be published at a later date to include HUD’s 2020 Income Limits.)

Questions and Technical Assistance
We understand the importance of having support available to answer any questions. Please send general questions to ci@fhlbc.com. For project-specific questions, please contact Liz Smith or Elisabeth Rask.

Contact Us

Please direct all media and investor inquiries to:

Erin Kopecky
Vice President, Director, Communications
ekopecky@fhlbc.com
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12.565.5297