FHLBank Chicago Awards $5.9 Million for Developer Program to Empower Emerging Leaders in Affordable Housing
The Federal Home Loan Bank of Chicago (FHLBank Chicago) has awarded $5.9 million through its 2025 Community First® Developer Program to help expand the pipeline of real estate developers advancing affordable housing across Illinois and Wisconsin. This year’s funding supports more than 110 fellowships and internships across 28 organizations, bringing FHLBank Chicago’s overall award amount for the program from 2022 to 2025 to $12.3 million.
Among this year’s recipients, Kaba-Baal LLC received $241,000 through member Forward Community Investments, Inc. to support internships and fellowships that provide hands-on experience in affordable housing development. Fellows are contributing to projects such as Valley View in River Falls and Tower Drive Senior Housing in Columbus, Wisconsin—gaining skills that strengthen both local communities and the state’s growing network of housing developers.
Kaba Bah, Principal of Kaba-Baal LLC, received a $241,000 Developer Program grant through member Forward Community Investments, Inc. to support internships and fellowships that provide hands-on experience in affordable housing development.
“This partnership gives us the ability to invest in people who want to make a lasting difference in their communities,” said Kaba Bah, Principal of Kaba-Baal LLC. “By combining hands-on learning with real projects in Wisconsin, we’re helping build both the skills and confidence needed to move affordable housing forward.”
| Grant Recipient Organization | FHLBank Chicago Member Partner | Location |
|---|---|---|
| AHDVS, LLC | Cinnaire Lending Corporation | Orland Park, IL |
AK Development | Spring Bank | Milwaukee, WI |
| Beauty For Ashes Developers | Amalgamated Bank of Chicago | Chicago, IL |
Community First MKE | Cinnaire Lending Corporation | Milwaukee, WI |
| Eminent Development Corporation | Lake Ridge Bank | Madison, WI |
FIT Investment Group | IFF | Milwaukee, WI |
| Full Circle Communities, Inc. | CIBC Bank USA | Chicago, IL |
Habitat for Humanity of Northern Fox Valley | Cornerstone National Bank & Trust Company | Elgin, IL |
| Habitat for Humanity Waukesha Jefferson Rock | Waukesha State Bank | Waukesha, WI |
Hispanic Housing Development Corporation | Associated Bank, National Association | Chicago, IL |
| Hope Community Capital LLC | League of Wisconsin Municipalities Mutual Insurance | Madison, WI |
IBT Group, LLC | Amalgamated Bank of Chicago | Chicago, IL |
| Illinois Housing Council | BMO Bank, National Association | Chicago, IL |
Kaba-Baal LLC | Forward Community Investments, Inc. | Madison, WI |
| KG Development Group | Northwest Side Community Development Corporation | Milwaukee, WI |
Lawndale Christian Development Corporation | First Eagle Bank | Chicago, IL |
| Milwaukee Community Land Trust, LTD | Associated Bank, National Association | Milwaukee, WI |
| Milwaukee Development Corporation | Spring Bank | Milwaukee, WI |
| Moxie Development Collective, LLC | Spring Bank | Milwaukee, WI |
| Associated Bank, National Association | Green Bay, WI |
| Northernstar Companies LLC | Waterstone Bank | Milwaukee, WI |
| Northpointe Development II Corporation | Bristol Morgan Bank
| Oshkosh, WI |
| Southwest Organizing Project | Marquette Bank | Chicago, IL |
| The Interfaith Housing Development Corporation of Chicago | Chicago Community Loan Fund
| Chicago, IL |
| The Resurrection Project | BMO Bank, National Association | Chicago, IL |
University of Wisconsin-Madison Department of Real Estate and Urban Land Economics | Forward Community Investments, Inc
| Madison, WI |
| Wild Rivers Habitat for Humanity, Inc | Community Bank of Cameron | Spooner, WI |
Wisconsin Economic Development Corporation, Office of Rural Prosperity | Bank of Luxemburg
| Madison, WI |