Community First June 2022 Newsletter

  • June 7, 2022

Affordable Housing Program General Fund Closes June 10

FHLBank Chicago’s 2022 Affordable Housing Program (AHP) General Fund opened on May 2 and closes on June 10. 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® Diverse Developer Initiative Update

The Community First® Diverse Developer Initiative opened for applications April 4 and closed May 13. This competitive grant program provides nonprofit and for-profit organizations, in collaboration with FHLBank members, with funding for career and talent development initiatives supporting diverse developers of affordable housing in FHLBank Chicago’s district of Illinois and Wisconsin. We received 32 applications this year, requesting over $5 million. We are excited for this new program, and look forward to announcing award recipients in July.

 

2022 HUD Income Limits

The United States Department of Housing and Urban Development (HUD) has released median income limits for 2022. Effective April 29, these limits are used to determine income eligibility for FHLBank Chicago’s AHP General Fund, Downpayment Plus® (DPP), and Community Advances. Additional information and resources are forthcoming on our HUD Income Guidelines webpage.


June is National Homeownership Month

FHLBank Chicago is proud to invest in programs that advance affordable homeownership. Last year, we assisted more than 3,300 homebuyers and homeowners through DPP and our AHP General Fund.  On May 22, 2022 the Chicago Tribune published an article about the rising costs associated with purchasing a home, and the critical role of homebuyer assistance programs.  FHLBank Chicago Community Investment Officer, Katie Naftzger, was quoted in the article.   The hot housing market and rising interest rates have forced homebuyer assistance programs to adapt

 

Upcoming Events:

June 29 | 2022 LISC Chicago Chicago Neighborhood Development Awards (CNDA)

September 14 – 16 | Hmong American Leadership and Economic Development (HALED) HERE Conference

 

 

Contact Us

Please direct all media inquiries to:

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