Community First February Newsletter

  • February 7, 2022

Register for a 2022 AHP Learning Opportunity
It’s time to start planning for the 2022 Affordable Housing Program (AHP). The 2022 AHP Implementation Plan is available on our website. Our popular AHP workshops will be held as live webinars this year, as we continue working in a virtual environment. We will be offering three identical webinars covering project eligibility, financial feasibility, and scoring. Potential AHP project sponsors, FHLBank Chicago member institutions, real estate developers, and consultants are encouraged to attend. Register here.

Additionally, those with previous AHP experience can register for our Experienced Users Webinar. This webinar will focus on significant changes for this year’s program. Register here. For those unable to attend, we will also be producing a series of recorded webinar presentations covering the same content, which will be available on our website in early March.

Community First® Disaster Relief Program
FHLBank Chicago announced a $450,000 allocation to its Community First® Disaster Relief Program, to assist Illinois communities affected by December’s severe storms, straight-line winds, flooding, and tornadoes. FHLBank Chicago members can submit applications for grant assistance on behalf of eligible households and small businesses through March 31, 2022 so long as funds are available. For more information and a list of counties in the declared disaster areas, please read our recent announcement.

2022 Downpayment Plus® Programs are Open
The 2022 Downpayment Plus® (DPP®) and Downpayment Plus Advantage® (DPP Advantage®) programs opened January 18. Participating members may reserve up to $420,000 in the general pool on a first-come, first-served basis to help their income-eligible borrowers with down payment and closing costs. There is no limit in the DPP Advantage pool, which allows members to access downpayment assistance on behalf of income eligible homebuyers obtaining their first mortgages from nonprofit lenders. Member resources are available on our website, including the DPP Program Guide, DPP videos, and customizable marketing flyers. We encourage members to review these resources and share with colleagues involved in submitting DPP grant reservations.

Community Small Business Advance Available
FHLBank Chicago members can access the Community Small Business Advance with 0% financing to support small business lending in income-eligible communities throughout Illinois and Wisconsin. This product combines competitive pricing with support for local economies and community revitalization efforts. To participate, members must complete the Community Small Business Advance application and demonstrate the eligibility of the small business as outlined in the application. Email cica@fhlbc.com with questions and requests for technical assistance.

Illinois Housing Council’s 2022 Affordable Housing Forum
In 2022, Illinois Housing Council (IHC) will be presenting a hybrid conference with educational sessions streamed online and one day of in-person activities and networking available for a limited number of attendees. Virtual sessions will be held for all attendees March 22-24, 2022. In-person conference activities will take place at the Chicago Cultural Center on March 31 with plenary sessions and special speaker presentations live-streamed online for attendees that are more comfortable with a virtual conference.

Upcoming Events:

February 23 | Illinois Institute for Rural Affairs Annual Rural Community Economic Development Virtual Conference

March 17 | 2022 FHLBank Chicago AHP Overview Webinar

March 22 – 24 | 2022 Illinois Housing Council Affordable Housing Virtual Forum

March 23 | 2022 FHLBank Chicago AHP Overview Webinar

March 31 | 2022 Illinois Housing Council Affordable Housing In-Person Forum

March 31 | 2022 FHLBank Chicago AHP Overview Webinar  

April 11 | 2022 FHLBank Chicago AHP for Experienced Users Webinar

 

 

 

Contact Us

Please direct all media inquiries to:

Casey Reidy 
Assistant Director, Communications 
creidy@fhlbc.com
312.565.5291