Application Notes:

Applications will be accepted on a rolling basis as long as funding is available, and must be submitted within three months of the close of the financing transaction.

Applications must be submitted online at www.fhlbcin.com/our-members.

Applications must include:

• Member information
• Project information
• Map with street names showing the parcel (if applicable)
• Targeted beneficiaries
• Amount requested
• Contact information
• Member certifications
• Additional documentation (optional)

Documentation must be uploaded as a single file in .pdf or .tif format.

Applications are generally processed within two business days of receipt, and after approval and the applicant’s receipt of an approval letter, the transaction is treated as a normal credit transaction that requires the completion and submission of the appropriate advance application to the funding agency's credit services department.

Refer to the NOFA, Guide, and TrainingPresentation files for additional application information.

Match Notes:

There are no stated matching requirements for this program; however, in instances where the project receives funds from another targeted federal economic development program that has income targeting requirements that are the same as, or more restrictive than, the targeting requirements through this program, applicants must certify that compliance with the criteria of the federal program meets the criteria for this program, and include documentation of the alternative targeting requirements in the application.

Funding may be used in conjunction with other FHLB Housing and Community Investment Department (HCI) products.

Funding Notes:

An unspecified amount of funding is available to support awards through this program. In a given calendar year, applicants are eligible to receive up to the lesser of:

• The applicant's additional borrowing capacity
• A total of $100 million in combined annual approvals through this program and the funding agency's Community Investment Program (CIP), known in eCivis Grants Network as US15829
• The unused portion of the $1.25 billion aggregate revolving loan fund that is used to support this program and CIP

Advances are priced daily at rates below the price of advances of similar amounts, maturities, and terms. Advances are generally priced four basis points over the funding agency’s cost of funds, adjusted for reasonable administrative costs; however, the funding agency reserves the right to alter its pricing to reflect current market conditions. In addition, advances are made on a secured basis only, subject to the normal underwriting and collateral policies of the funding agency. Refer to page 16 of the TrainingPresentation file for a list of sample advance rates.

Applicants may secure a program rate on the following fixed-rate, mortgage-related advances:

• Balloon payment advance
• Regular fixed-rate advance
• Callable advance
• Select payment mortgage matched advance
• Constant monthly payment advance
• Mortgage matched advance

A term of at least one year is required, and exceptions will be evaluated on an individual basis, subject to the funding agency's discretion.

Applicants may also apply for a discounted standby letter of credit (SLC) or a direct pay letter of credit (DPLC). In such instances, the fee on the SLC is reduced to $50 plus 10.0 basis points on the amount requested, plus any additional fees or charges; and the fee on the DPLC is reduced to $100 plus 20.00 basis points on the amount requested, plus any additional fees.

Award funds are disbursed into the award recipient's demand deposit account with the funding agency, and must be drawn, or the program rate locked, within 12 months of approval.