FHLBank Chicago and Rep. Bill Foster Join Housing Opportunity Development Corporation, McHenry County and Local Leaders, to Discuss Expanding Affordable Housing Opportunities in Illinois 11th District

MCHENRY, Ill.--(BUSINESS WIRE)--Jul 9, 2026--

U.S. Representative Bill Foster (IL-11) joined the Federal Home Loan Bank of Chicago (FHLBank Chicago), Housing Opportunity Development Corporation (HODC), McHenry County officials, and local leaders today for a tour and roundtable discussion at Taylor Place Apartments, an affordable housing development in McHenry, Illinois.

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The event brought together housing and community development leaders to discuss the need for affordable housing across the region and the role partnerships play in expanding access to safe, stable, and affordable homes. Following a tour of Taylor Place, participants discussed how developments serving individuals and families, including people with disabilities, can strengthen entire communities while helping residents remain connected to services, jobs, and local resources.

“The Taylor Place Apartments embody a promise for the residents of McHenry County, as they bring much-needed affordable housing options to the area,” said Rep. Foster. “I am proud to represent McHenry County in Congress, and I commend all those involved in leveraging partnerships across local, state, and federal levels to make this project a reality for workers in this community.”

The tour highlighted the success of Taylor Place Apartments, an affordable housing development in McHenry created by the Housing Opportunity Development Corporation (HODC). The project received a $1 million grant from FHLBank Chicago’s Affordable Housing Program (AHP) General Fund, sponsored by its member Crystal Lake Bank & Trust, a Wintrust Community Bank. Taylor Place is an example of how collaboration among affordable housing developers, financial institutions, local government, and community partners can expand access to affordable housing and create lasting opportunities for individuals and families in communities facing ongoing housing affordability and supply challenges.

“Taylor Place demonstrates how targeted investments in affordable housing can create meaningful opportunities for residents and strengthen communities,” said Richard Koenig, Executive Director of Housing Opportunity Development Corporation. “With support from partners like FHLBank Chicago and local leaders, we are able to develop housing that helps residents put down roots, access supportive services, and remain connected to the community they call home.”

The roundtable discussion also highlighted the Federal Home Loan Bank System’s connection to local housing opportunities. Through its Affordable Housing Program (AHP) General Fund, FHLBank Chicago provides forgivable grants through its member financial institutions to support the acquisition, construction, and rehabilitation of affordable rental and owner-occupied housing across Illinois and Wisconsin.

“AHP helps bridge financing gaps that can make the difference in bringing affordable housing developments from concept to reality,” said Michael Ericson, President and CEO, FHLBank Chicago. “Homes like Taylor Place demonstrate how collaboration between FHLBank Chicago and our member, Crystal Lake Bank & Trust, can expand affordable housing to create lasting benefits for the communities we serve.”

Affordable housing developments like Taylor Place help increase housing supply, support community stability, and create new opportunities for residents to live near transportation, healthcare, employment, and other essential services. The event underscored how partnerships among federal, local, and nonprofit leaders can help address housing affordability challenges and support long-term community resilience.

“McHenry County recognizes the importance of housing options that meet the needs of residents at different stages of life and income levels,” said Michael Buehler, McHenry County Board Chairman. “Taylor Place is a strong example of how collaboration can help create housing opportunities that support residents and strengthen our communities.”

For additional information about FHLBank Chicago’s AHP General Fund, please visit fhlbc.com/AHP.

About the Federal Home Loan Bank of Chicago

FHLBank Chicago is a regional bank in the Federal Home Loan Bank System. FHLBanks are government-sponsored enterprises created by Congress to ensure access to low-cost funding for their member financial institutions, with a focus on providing solutions that support the housing and community development needs of members’ customers. FHLBank Chicago is a self-capitalizing cooperative, owned by its Illinois and Wisconsin members, including commercial banks, credit unions, insurance companies, savings institutions and community development financial institutions. To learn more about FHLBank Chicago, please visit fhlbc.com

About Housing Opportunity Development Corporation

Housing Opportunity Development Corporation is a nonprofit affordable housing developer that creates and preserves housing opportunities for individuals and families across the region. HODC works with public, private and community partners to develop affordable rental housing and connect residents with housing options that support stability, independence and long-term well-being.

Housing and finance leaders meet Rep. Bill Foster (IL-11) in McHenry, Ill. to discuss housing affordability solutions. Pictured (left to right): Monte Johnson, City of McHenry; Laura Youngberg, Housing Opportunity Development Corporation; Dave Feldhaus, FHLBank Chicago; Richard Koenig, Housing Opportunity Development Corporation; Rep. Bill Foster; Jamie Lutton, FHLBank Chicago; Sharon Gorrell, FHLBank Chicago; Dan Watts, Board Director at FHLBank Chicago; John Birk, City of McHenry.

LONDON (AP) — Andy Burnham is on the brink of becoming Britain's next prime minister after securing the backing on Thursday from 80% of Labour lawmakers in a party leadership contest.

On the day nominations opened in the election to replace Prime Minister Keir Starmer, Burnham secured the support of 322 of the 403 Labour members of Parliament, far exceeding the 81 needed to run.

That makes it almost impossible for another legislator to get enough support to challenge him, a prospect that was already unlikely.

Burnham said on social media that he was “deeply grateful” for the support of Labour MPs, which “reflects a shared belief that Britain needs a new approach to politics.”

Throughout the day, lawmakers trudged up a narrow staircase to a Labour office in the Parliament building to sign nomination papers for Burnham, who has gone from being mayor of Greater Manchester to leader-in-waiting in the space of a few weeks.

“It's all starting to feel very real,” Burnham said in a social media video, confirming that he had nominated himself.

Nominations remain open until July 16. Burnham is highly likely to be announced as Labour's new leader the following day, and become prime minister after a meeting with King Charles III on July 20.

Britain's parliamentary democracy allows governing parties to change leaders, and thus prime ministers, without the need for a general election. The next national election does not have to be held until 2029.

Other potential contenders have all ruled themselves out. Former Defense Minister Al Carns, who had been considering a run, confirmed late Wednesday that he will not challenge Burnham.

“I’d hoped a leadership contest would give us the opportunity for a proper debate,” Carns said in a statement. “But months of internal Labour politics isn’t what the country needs right now. We’ve got to get on with the job. Andy Burnham’s earned this and he’s got my full backing.”

Starmer announced last month that he would resign as soon as his center-left party chose a successor. He was elected in a landslide in July 2024, but quit after two years in office marred by missteps and judgment errors that eroded his standing with his party and the public.

Burnham spent almost a decade running Greater Manchester, in northwest England, before returning to Parliament by winning a special election last month.

He’s promising sweeping change, vowing to reverse almost two decades of low growth since the 2008 financial crisis through an approach dubbed “Manchesterism” — harnessing private and public money to invest in areas like transport, housing and infrastructure.

But he will face many of the same political and economic challenges as Starmer, including a sluggish economy, overstretched health care and welfare systems and a cost-of-living squeeze.

He also promised continuity in foreign policy, and that the government’s “commitment to NATO and the U.K.’s nuclear deterrent will remain absolute.” Writing in The Times of London on Thursday, he said Britain will remain a firm ally of the United States and a strong supporter of Ukraine.

But in an implicit criticism of Starmer, Burnham later said Labour “didn’t get it right” at the start of Israel's war against Hamas in Gaza. In a video message, Burnham condemned the Oct. 7, 2023, attacks on southern Israel by Hamas militants, who killed around 1,200 people and took 251 others hostage.

Burnham also said the British government had been “too slow to call for a ceasefire” in the conflict that has left 73,110 Palestinians dead, according to the Gaza Health Ministry, which is part of the Hamas-led government. The ministry is staffed by medical professionals who maintain detailed records viewed as generally reliable by United Nations agencies and independent experts.

He said the U.K. would consider “further sanctions, both on those involved in the violence in Gaza, but also looking at measures to ban trade in goods with illegal settlements.”

Labour Party's Andy Burnham is hugged by party members before he delivers a speech at the People's History Museum in Manchester, England, Monday, June 29, 2026.(AP Photo/Alastair Grant)

Labour Party's Andy Burnham meets party members before he delivers a speech at the People's History Museum in Manchester, England, Monday, June 29, 2026.(AP Photo/Alastair Grant)

Labour Party's Andy Burnham delivers a speech at the People's History Museum in Manchester, England, Monday, June 29, 2026.(AP Photo/Alastair Grant)

Labour Party's Andy Burnham reacts as he delivers a speech at the People's History Museum in Manchester, England, Monday, June 29, 2026.(AP Photo/Alastair Grant)