Community First Developer Program

The Community First Developer Program is a grant initiative administered by the Federal Home Loan Bank of Chicago, designed to strengthen the pipeline of professionals engaged in affordable housing development. The program targets nonprofit, for-profit, and quasi-governmental organizations operating within Illinois and Wisconsin, reflecting the Bank’s district footprint. Its overarching goal is to support organizations that train and mentor emerging talent in the affordable housing sector, thereby expanding capacity and addressing workforce gaps in housing development. The program allocates funding specifically to support structured internship and fellowship opportunities that provide hands-on, professional experience in affordable housing development. In 2026, the program anticipates distributing approximately 3000000 dollars in total funding, with individual grant awards typically ranging between 50000 and 200000 dollars. Funding is intended to cover compensation and related costs for interns or fellows, including salaries, benefits, administrative support, training activities, networking events, and necessary materials or technology. A key requirement introduced in 2026 is that supported individuals must be new either to the organization or to the affordable housing industry, reinforcing the program’s emphasis on workforce entry and development. Eligibility is broad but specific to organizations engaged in training and supporting aspiring housing developers within the defined geographic region. Applicants must partner with a member institution of the Federal Home Loan Bank of Chicago to submit an application, and each member institution may sponsor up to three applications per funding round. Organizations that have previously received funding may reapply, provided they have expended at least 30 percent of prior grant funds or can justify and plan for remaining expenditures. This structure ensures accountability while allowing continuity of programmatic efforts. The application process consists of two main components: completion of application questions via a Microsoft Forms link and submission of a supporting documentation PDF. Required documentation includes a detailed budget outlining proposed use of funds and a timeline for implementation. The PDF must be signed by both the applicant organization and the partnering member institution, and submitted via email along with a Certificate of Good Standing. This collaborative submission requirement reinforces the role of member institutions as intermediaries and partners in community investment. Applications are evaluated based on several criteria, including alignment with program priorities, quality of internship or fellowship design, organizational capacity and experience, and the anticipated impact on affordable housing development. Reviewers also consider prior award history, organizational structure, and geographic distribution of proposed placements to ensure equitable coverage across the district. This comprehensive evaluation framework prioritizes both program quality and strategic impact. The 2026 application cycle opened on June 29, 2026 and closes on July 31, 2026 at 5 pm CST. Awards are expected to be announced in September or October 2026. Following award execution, funds are disbursed to the partnering member institution, and beneficiary organizations may begin incurring expenses from November 1, 2026 through May 15, 2028. Final reporting is due by May 31, 2028 and includes impact narratives and expense reconciliation, with optional intern or fellow surveys. Beyond funding, the program includes an engagement component, offering networking, training, and event opportunities for participating organizations. Beneficiaries are required to maintain documentation supporting all expenditures and comply with program guidelines and conduct standards. The program is recurring on an annual basis, reflecting the Bank’s ongoing commitment to developing the next generation of affordable housing professionals and strengthening community investment outcomes.

Strongly demonstrate alignment with program priorities; provide detailed internship or fellowship structure; clearly articulate measurable impact on affordable housing development