FHLBank Chicago Launches 2025 Community First(r) Developer Program with $3 Million in Grants

Strategic Insights -

FHLBank Chicago, a leading financial institution, has initiated its 2025 Community First(r) Developer Program, aiming to provide grants to organizations supporting career development opportunities in the affordable housing development industry across Illinois and Wisconsin. The program, now in its fourth year, will award up to $3 million to its financial institution members, with individual grant amounts ranging from $50,000 to $250,000. Applications are open from now until August 8, 2025, at 5:00 p.m. CT.

Key Takeaways:

  • The FHLBank Chicago's 2025 Community First(r) Developer Program will award up to $3 million in grants, with individual grant amounts ranging from $50,000 to $250,000.
  • The program aims to strengthen the pipeline of talent shaping affordable housing in the district, with last year's recipient, Northpointe Development II Corporation, receiving a $250,000 grant to fund two full-time fellowship positions.
  • The Developer Program was launched in 2022 by FHLBank Chicago's Community Investment Advisory Council to address the need for greater access to affordable housing career pathways.
  • Eligible beneficiary organizations include nonprofit and for-profit development firms, as well as organizations with programs or initiatives that advance career opportunities in the industry.
  • Members may sponsor up to three applications totaling no more than $750,000 in combined requests.

Statistics:

  • Up to $3 million in grants will be awarded to organizations supporting career development opportunities in the affordable housing development industry.
  • Individual grant amounts will range from $50,000 to $250,000.
  • The program aims to provide meaningful, full-time roles for individuals passionate about building stronger communities.
  • Last year's recipient, Northpointe Development II Corporation, received a $250,000 grant to fund two full-time fellowship positions.

Sources:

  • "The Federal Home Loan Bank of Chicago (FHLBank Chicago) today opened its applications for the 2025 Community First(r) Developer Program (Developer Program)."
  • Katie Naftzger, Senior Vice President and Community Investment Officer, FHLBank Chicago
  • Sean O'Brien, Principal at Northpointe Development
  • "The Developer Program was shaped by FHLBank Chicago's Community Investment Advisory Council to address the need for greater access to affordable housing career pathways."