- General Information:
- Application for Financing
- Recently Approved Projects
- Program Timelines
- Tax Credit Programs:
- Low-Income Housing Tax Credits (LIHTC)
- Illinois Affordable Housing Tax Credit (IAHTC)
- First Mortgage Programs:
- Tax Exempt Bond Programs
- Multifamily Advantage
- Soft Money & Subsidy Programs:
- HOME
- Trust Fund
- CDBG Disaster Recovery Program
- Permanent Supportive Housing Program
- Long Term Operating Support Program (LTOS)
- Preservation Now Program
- Technical Resources:
- Architecture and Construction Services
- Market Research
- LIHTC Compliance
- Loan Modification
- Other Developer Information:
- Useful Links
Useful Links
IHDA has a number of partner organizations that can help new developers diversify their sources of funding, improving chances of being approved for IHDA programs. Please contact these organizations for information on applying to their programs.
Chicago-area:
• The City of Chicago Department of Housing and Economic Development (DHED) is responsible for Chicago’s affordable housing, housing preservation and community-based homebuyer assistance programs in Chicago.
• Chicago Housing Authority’s (CHA) Property Rental Assistance program offers housing assistance payments (HAP) contracts for five to 30 years for multiple units. New construction, substantial rehabilitation, and existing multi-unit buildings and portfolios with vacancies all qualify for the PRA program. Applications are accepted on a rolling basis.
• Competitive Affordable Housing Program though Federal Home Loan Bank of Chicago awards funds for affordable housing projects that finance the purchase, construction and/or rehabilitation of owner-occupied or rental housing for households with incomes at or below 80 percent of area median income (AMI).
• The Housing Authority of the County of Cook (HACC) administers several rent assistance programs to meet the housing needs of rental participants.
• The Regional Housing Initiative (RHI) provides financial incentives through operating subsidies using a competitive, rolling application process.
Statewide:
• The Illinois Department of Commerce and Economic Opportunity (DCEO) offers a variety of energy efficiency programs. Available grants include recycling programs, energy efficient affordable housing construction and industry training programs.
• Corporation for Supportive Housing (CSH) provides new developers with a toolkit of informational materials, sample documents and other tools that can help them address key challenges in the planning, development and ongoing operation of permanent supportive housing projects.
• USDA Rural Development Multi-Family Housing Programs offer rural rental housing loans to provide affordable multi-family rental housing for very low-, low- and moderate-income families; the elderly; and persons with disabilities.
• The U.S. Department of Housing and Urban Development (HUD) has a variety of available multifamily development resources.
• Illinois Association of Housing Authorities Member list
Information resource:
• Novogradac & Company LLP provides information for the affordable housing and community development industries.