Affordability Risk Index (ARI)

The Illinois Housing Development Authority (“IHDA”) has made the executive decision to develop a new methodology for determining ARI. ARI scoring criteria will not be considered for the two competitive selection rounds in the current QAP period. Therefore, the scoring for 9% Tax Credits will evaluated on a scale of ninety-five (95) total points, not one hundred (100) for 2018 and 2019.

As a reminder, IHDA will notify Sponsors of their 2018 Preliminary Project Assessment (“PPA”) results no later than February 2, 2018 and the application deadline for 2018 9% Tax Credits is March 2, 2018. Applications received after March 2, 2018 will not be eligible for 2018 9% Tax Credits.

In order to be eligible to apply for 2019 9% Tax Credits, a Sponsor must have submitted a PPA by November 9, 2018 and subsequently received an Overall PPA Review of “Approved” or “Conditionally Approved” from the Authority.  Any PPA approved in connection with the 2018 9% Tax Credit round will be eligible to apply for 2019 9% Tax Credits.  The application deadline for 2019 9% Tax Credits is February 15, 2019.  Applications received after February 15, 2019 will not be eligible for 2019 9% Tax Credits.

Should you have any questions, please feel free to contact multifamilyfin@ihda.org.