Community First June Newsletter

  • June 7, 2021
AHP General Fund Closes June 11
FHLBank Chicago’s 2021 Affordable Housing Program (AHP) General Fund opened on May 3 and closes on June 11. Sponsors are encouraged to reference the Guide for Sponsor Applicants and members are encouraged to reference the Guide for Member Applicants when completing their applications. Recorded webinars are available as well. Please contact 312.565.5824 or ci@fhlbc.com with any application-related questions. Read more.

Community First®  Awardees
In April, FHLBank Chicago announced our 2021 Community First Award recipients. These awards celebrate outstanding achievements of member institutions and their local partners as they work together to strengthen their communities. Award recipients receive $10,000 to support a nonprofit organization. Meet the inspiring awardees. Read more.

Community Development Advance for PPP Eligible Borrowers
On May 20, 2021, FHLBank Chicago announced that loans made by members to Paycheck Protection Program (PPP) eligible entities can qualify for our Community Development Advance. Under this program, members may access our discounted Community Advance rate to support qualifying community lending. Applications for this expanded program eligibility will be accepted through December 24, 2021. Read more.

Repayment Worksheet Update
FHLBank Chicago allows members to use a proxy method, based on HUD sales price data, to determine forgiveness opportunities for Downpayment Plus® (DPP®) grants and AHP General Fund grants for owner-occupied acquisition-only and acquisition/rehabilitation units. The repayment worksheet has been updated to reflect HUD’s 2021 sales price data.

Submit Your Community Support Statement
Most FHLBank Chicago members are required to submit a Community Support Statement (CSS) to the Federal Housing Finance Agency (FHFA) every two years. The 2021 Community Support Program (CSP) opened on April 1, 2021. While the deadline is not until October 29, 2021, we encourage members to submit as soon as possible using the FHFA Online CSP System. If you have any questions about completing and submitting your 2021 CSS, please contact Community Investment staff at CommunitySupportProgram@fhlbc.com. Read more.

June is National Homeownership Month
FHLBank Chicago is proud to invest in programs that advance affordable homeownership. Last year, we assisted more than 3,200 homebuyers and homeowners through DPP and our AHP General Fund. On June 3, Community Investment staff hosted a panel discussion for FHLBank Chicago employees highlighting the work of three community partners. Thank you to Kelly Andrew of Acts Housing, Ashley Lacenski of Couleecap, Inc., and Deborah Moore of Neighborhood Housing Services of Chicago for participating, and for their work helping families buy and stay in homes throughout Illinois and Wisconsin.

Contact Us

Please direct all media and investor inquiries to:

Erin Kopecky
Vice President, Director, Communications
ekopecky@fhlbc.com
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12.833.5323