FHLBank Chicago Opens 2024 Application for Diverse Developer Initiative to Foster Career Development in Affordable Housing Industry

CHICAGO--(BUSINESS WIRE)--The Federal Home Loan Bank of Chicago (FHLBank Chicago) today opened its application for the 2024 Community First® Diverse Developer Initiative (Diverse Developer Initiative). Now in its third year, the initiative provides nonprofit and for-profit organizations grants to help Illinois and Wisconsin emerging developers gain access to career development opportunities to advance affordable housing.

This year, FHLBank Chicago will award up to $2 million to qualifying organizations, bringing its overall commitment for the three-year program to over $5 million, with grant amounts ranging from $50,000 to $250,000 per beneficiary organization. Applications are open now through Friday, September 13. ...