Community First August Newsletter

  • August 3, 2021
Capacity-Building Grant Program Open
FHLBank Chicago is now accepting applications for its Community First ® Capacity-Building Grant Program. Now in its fifth year, the Capacity-Building Grant Program provides flexible grant funds to nonprofit, non-depository lenders that support affordable housing, economic development, and small businesses in Illinois and Wisconsin. The deadline to submit an application is Friday, September 3. Read the application for more details and program guidelines. Read more.

2021 AHP General Fund Round Update
For 31 years, members of FHLBank Chicago have partnered with community developers and public agencies to apply for Affordable Housing Program (AHP) General Fund subsidies. These grants are awarded to the highest-scoring projects through a competitive process until the funds are exhausted. The 2021 competitive round opened on Monday, May 3, 2021, and closed on Friday, June 11, 2021, with award announcements expected in late October. Read the 2021 round highlights.

Community Development Advance 
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.

Community Support Statement Deadline
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. Additionally, our CSP webpage includes helpful resources, including the FHFA CSP Online System User Guide and FAQsRead more.

2021 Downpayment Plus® Program Update
The 2021 Downpayment Plus (DPP®) and Downpayment Plus Advantage® (DPP Advantage ® ) programs opened on January 19, 2021, and continue to provide members easy-to-access down payment and closing cost assistance to help their income-eligible borrowers achieve homeownership. At the end of the second quarter of 2021, we have awarded $8.5 million in DPP grants to over 1,400 households. Read more.

Upcoming Virtual Events
September 1 – 2 | WHEDA’s Annual Conference
September 22 | Mercy Housing Moving Forward Together
October 19 – 21 | 2021 OFN Virtual Conference

Contact Us

Please direct all media inquiries to:

Casey Reidy 
Senior Manager, Communications 
creidy@fhlbc.com
312.565.5291