The Federal Home Loan Bank of Chicago (FHLBC) reappointed Mary Patoka to its Community Investment Advisory Council. Patoka first joined the Council in 2009. Her latest three-year term started January 1st.
Patoka is President and CEO of CAP Services, where she has led a number of housing and economic development initiatives, including expansion of CAP’s rental housing portfolio to 768 units and business lending of nearly $1.3 million in 2017.
“It is an honor to be reappointed,” said Patoka, “Federal Home Loan Bank of Chicago’s financing has been critical in the development of affordable housing including some of CAP’s projects. The newer Community First Fund brings additional investment for both housing and economic development to markets often under-served through its program partners.”
FHLBC provides a number of services to its member banks. The Community Investment Advisory Council advises the FHLBC on ways in which it can better carry out its housing finance and community investment missions. One program, Downpayment Plus, provides forgivable mortgages of up to $6,000 for eligible homebuyers through member banks. The competitive Affordable Housing Program, provides funding for a number of housing initiatives through its member banks for project sponsors like CAP Services.
Patoka was also recently recertified through the National Development Council’s Economic Development Finance Professional Certification Program. Patoka completed the four-course training series that explores the skills essential for the successful practice of economic development – business credit and real estate finance analysis techniques, loan packaging procedures, negotiating and problem solving skills and deal structuring techniques and has since met recertification continuing education requirements.