Community First December 2025 Newsletter

  • December 18, 2025

Growing Affordable Housing Capacity in Waukesha County 

Since 1989, Habitat for Humanity of Waukesha County has been bringing people together to build homes, communities, and hope for those in need. They work to build pathways out of poverty through stable, affordable housing while building community partnerships to contribute to every home they build.  

Habitat relies on community partners to provide affordable homeownership opportunities through volunteer labor, donated materials, and innovative construction methods. The ability to grow and serve even more families, especially as demand for affordable housing increases, requires skilled developers and greater capacity. Sustaining that talent can be challenging without stable funding. 

Through their longtime partnership with Waukesha State Bank, Habitat was awarded an FHLBank Chicago Community First® Developer Program grant, which distributes funding to support career development for emerging developers of affordable housing.  

“Collaborations like this amplify the impact we can have on local families and neighborhoods,” said Ty Taylor, President & CEO of Waukesha State Bank. “We are grateful for our partnership with FHLBank Chicago and honored to support Habitat for Humanity as they expand their capacity and deepen their work in our communities.” 

The grant is allowing Habitat for Humanity of Waukesha County to bring on two fellows: a Project Development Fellow, focused on the capacity to identify, acquire, and develop sustainable properties, and a Construction Prefabrication Fellow, focused on leading the transition to prefabricated and panelized construction methods to reduce home build time. Together, these roles are expected to increase capacity across their service area while cultivating local talent to grow into the next generation of affordable housing leaders.  

“Our fellows will gain real experience in affordable and workforce housing,” says Melissa Songco, CEO of Habitat for Humanity of Waukesha County, “and with their help, we can evolve as an organization and become even more efficient with our resources so we can build homes faster and have a better product for our families.”  

 

2025 AHP General Fund Announcement

FHLBank Chicago awarded $52 million through its 2025 Affordable Housing Program (AHP) General Fund round to help finance 37 housing projects located in Illinois and Wisconsin. This funding will enable the acquisition, rehabilitation, and new construction of over 1,600 housing units.

"Affordable housing remains a critical need throughout Illinois and Wisconsin, especially as residents face elevated interest rates, limited inventory, and increased construction costs,” said Michael Ericson, President and CEO, FHLBank Chicago. “Through our AHP General Fund, we’re proud to partner with our members and community organizations to increase supply of, and expand access to, quality housing."

Since the program's inception in 1989 through year-end 2024, FHLBank Chicago has allocated more than $550 million in AHP General Fund grants, helping provide housing for over 83,000 households. The 2025 award recipients will support a range of communities—including rural, urban and tribal areas—and populations such as seniors, veterans, and working families.

2025 Developer Program Announcement

FHLBank Chicago awarded $5.9 million through its 2025 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.  

“Expanding the supply of affordable housing requires both resources and skilled developers,” said Katie Naftzger, Senior Vice President and Community Investment Officer, FHLBank Chicago. “The Developer Program helps ensure that emerging professionals have the tools and experience needed to turn ideas into real housing solutions.”  

The Developer Program provides grant funding for nonprofit and for-profit organizations to support career development for emerging affordable housing developers. Grants range from $50,000 to $250,000 per organization and fund activities such as project management training, predevelopment planning, construction and financing experience, and on-the-job learning through internships and fellowships. These efforts help cultivate the next generation of housing professionals and strengthen the foundation for long-term development across the region.

2026 DPP® Programs

We’re excited to share that the 2026 Downpayment Plus (DPP®) Programs will launch on January 20 at 7 a.m. These programs are designed to support income-eligible homebuyers with down payment and closing cost assistance—helping more families achieve homeownership. We’re pleased to confirm that the program structure remains unchanged, continuing to offer meaningful benefits to homebuyers.

  • General Pool: Participating members may reserve up to $1 million on a first-come, first-served basis. Funds provide up to $10,000 in assistance for down payment and closing costs for income-eligible borrowers.
  • DPP Advantage Pool: Members may also reserve up to $1 million to offer up to $10,000 in down payment assistance to income-eligible homebuyers securing their first mortgages through nonprofit lenders.
Register for one of our upcoming webinars to learn more. 

2024 Accelerate Grant Impact Reporting Requirements 

Impact Reporting for all 2024 Accelerate Grant recipients became available starting on June 30, 2025, via the AGP Online link in the red banner in eBanking. The designated FHLBank Chicago member contact must complete the report by January 31, 2026, after all grant funds have been spent. All members required to submit a report will receive a reminder notification via email, and instructions on submitting are included in the system. Please reach out to ci@fhlbc.com with any questions.

 

Streamlined Community Advance 

FHLBank Chicago’s unified Community Advance product — designed to simplify and better support your community investment efforts, launched on Monday, November 17, 2025. The enhancements reflect the valuable feedback we’ve received from our members and underscore our ongoing commitment to supporting community development. With our new Community Advance, members benefit from a streamlined online application process, expanded eligibility, and up to 200 basis points discount for select activities.

 

 

Contact Us

Please direct all media inquiries to:

Casey Reidy 
Director, Communications 
creidy@fhlbc.com
312.565.5291

Heather Bockstruck
Assistant Director, Communications
hbockstruck@fhlbc.com
312.565.5282