Under certain circumstances, members and project sponsors/owners may be required to return DPP® subsidies to the Federal Home Loan Bank of Chicago (FHLB Chicago). Checks should be made payable to or endorsed to the FHLB Chicago. Checks should be mailed to the following address: Community Investment Group Federal Home Loan Bank of Chicago 111 E. Wacker Drive, Suite 800 Chicago, IL 60601 Repayment by the Homebuyer/Owner The FHLB Chicago must be given notice of any sale, refinancing, foreclosure, or change in owner-occupied status occurring prior to the end of the retention period. • In the case of a sale, a pro rata share of the DPP subsidy, reduced for every full month the seller owned the unit and used it as their primary residence, shall be repaid to the FHLB Chicago from any net gain realized upon the sale of the unit after deduction for transaction costs incurred in both the original purchase and the sales transaction. If the purchaser is a low or moderate income household, i.e. at time of execution of sales contract having an income of 80% or less of area median income based on FHLBC income calculation guidelines, the obligation to repay the subsidy is terminated. • In the case of refinancing, a pro rata share of the DPP subsidy, reduced for every month the seller owned the unit and used it as their primary residence, shall be repaid to the FHLB Chicago from any net gain realized upon refinancing unless the unit continues to be subject to a legally enforceable retention agreement. • In the case of a foreclosure, the obligation to repay any subsidy is terminated after foreclosure. The DPP repayment is calculated on a monthly basis with 1/60th of the subsidy forgiven for each full month. The member must include a Repayment Worksheet (.pdf) with the check. Click here for assistance with calculating a repayment.