IHDA-Assisted Multifamily Rental Housing
IHDA and its Asset Management department welcome you to this page which outlines key information and helpful resources for the management of IHDA-assisted multifamily rental housing.
Scope
The Asset Management department is responsible for ensuring effective and efficient program administration and long-term compliance for the largest portfolio of affordable multifamily rental housing in the state of Illinois. This work encompasses physical, financial, and operational compliance oversight for properties that utilize a variety of financial instruments including debt, equity, and operating subsidy. The Asset Management department works in partnership with property developers, owners, and managers as well as other funders, interagency groups, and stakeholders.
Structure
The following teams comprise the Asset Management department:
- Executive: Establishes and implements departmental strategic direction – guiding structure, operations, preservation initiatives, and department culture – in partnership with internal and external stakeholders.
- Strategic Solutions: Serves as an implementation driver for departmental strategic direction through consultative work in policy, processes, data, and training.
- Portfolio Analysis: Ensures financial viability of properties through financial analysis, insurance and reserves administration, and loan servicing. Proactively identifies and responds to portfolio risks through an array of intervening measures including restructuring of ownership, management, and/or financing.
- Program Administration: Develops and implements programming including contractual and subsidy administration. Oversees physical conditions compliance based on applicable Federal and State standards through capital improvement request handling and conduct of inspections.
- Rental Compliance: Oversees operational compliance of properties assisted with IHDA bonds, grants, loans, or tax credits based on applicable Federal and State standards through management, occupancy, and tenant file reviews
Mission
Ensure effective and efficient program administration and long-term compliance for the largest portfolio of affordable multifamily rental housing in Illinois.
Vision
Take a structured and strategic approach to preserve the IHDA investment in and to achieve optimal benefits for residents in partnership with property owners/agents.
Values
Principles of communication, accountability, and consistency inform decision-making, shape culture, and drive work.
Additional Informational Resources
FY 22-24 Strategic Plan and Appendix
IHDA and its Asset Management department are excited to announce the 2022 Compliance Connection resource portal which outlines annual compliance requirements and options for our valued partners – property owners and managers. Please check out the link below to access related information and documentation including guidance on use:
The Illinois Housing Development Authority is now accepting applications under its Capital Bill Preservation Program: Limited Rehab. This program will provide subordinate financing to current developments with existing income and occupancy restrictions that have outstanding capital improvement needs that cannot be met using existing reserves. Completed applications are due to IHDA by 5:00 p.m. CST on February 25, 2022.
Capital Bill Preservation Program Limited Rehabilitation Request For Applications
Capital Bill Preservation Program Limited Rehabilitation Application
All questions and submissions should be directed to PreservationProgramLimitedRehab@ihda.org.
Financial Analysis
Financial Reporting and Audit Guidelines
Exhibit A – Single Year Schedule of Financial Performance (Excel)
Annual Certifications
Consolidated Certificate of Compliance
Tenant Profile Compliance Report (HOME, CDBG, NHTF, NSP)
Section 8 Income Targeting – Extremely Low-Income (30%)
Ownership Structure Certification (Exhibit C)
Certification of Incumbency for Document Execution Authorization
HOME Annual Student Certification
Rental Schedules/Worksheets-Section 8
Instructions for Rent and Utility Allowance Request
AAF Rent Comparability Study (RCS) Worksheet
AAF Rent Increase Worksheet for New Construction and Substantial Rehabilitation
Appendix 3: Sample Format for Owner’s Certification of Compliance with the Requirements of Notice
Rental Schedules/Worksheets-All Other Programs
Instructions for Rent and Utility Allowance Request
Rent and Utility Allowance Request
Management Agreement Extension
Management Agreement Extension and Amendment
Tenant Management
Tenant Selection Plan – Other Programs
Tenant Selection Plan – Other Programs – Exhibits and Addendums
Tenant Selection Plan – Section 8 Programs
Tenant Selection Plan – Section 8 Programs – Exhibits and Addendums
Tenant Selection Plan – Section 8 Moderate Rehabilitation Developments
Affirmative Fair Housing Marketing Plan (AFHMP) Initial and Ongoing
Management Plan Requirement Guidelines
Addendum to Management Plan Average Income Test Commitments
Section 8, Mod-Rehab Tenant File Guidance
HOME, NHTF, CDBG, NSP, IAHTC Tenant File Guidance
LIHTC, TCAP, 1602 Tenant File Guidance
Quarterly Occupancy and Waitlist Reporting
HUD Fair Housing Poster – English
HUD Fair Housing Poster – Spanish
VAWA Model Emergency Transfer Plan – PDF Version
VAWA Emergency Model Transfer Plan – Word Version
Tax Credit
Acceptable Forms of Income and Asset Verification
TC Under $5K Asset Certification
Tax Credit Annual Compliance Fee Payment and Mailing Instructions
Rental Housing Support Program
Consolidated Certificate of Compliance
Acceptable Forms of Verification
Rental Assistance Contract Amendment
Rental Assistance Contract Checklist
Tenant Income Certification Form
Long-Term Operating Support Program
Consolidated Certificate of Compliance
Amendment for Development Units
Section 811 Program
Statewide Referral Network
Management Bulletin 532 (10/21/2021)
HUD HOME Waiver Update, Revision and Extension
Management Bulletin 531 (9/1/2021)
IDHR General, Fair Housing Training and Development
Management Bulletin 530 (9/1/2021)
Eviction Moratorium Update
Management Bulletin 529 (8/4/2021)
New CDC Order on Evictions
Management Bulletin 528 (7/26/2021)
Eviction Moratorium Update
Management Bulletin 527 (6/28/2021)
IHDA Asset Management – FY 22 Structural Changes Announcement
Management Bulletin 526 (6/30/2021)
Eviction Moratorium and COVID-19 Reopening Updates
Management Bulletin 525 (6/7/2021)
*Correction – 2021 Income/Rent Limits for HOME, NHTF, NSP
Management Bulletin 524 (5/4/2021)
State Rental Assistance Program Opens May 17
Management Bulletin 523 (4/30/2021)
HUD 2021 Income Limits
Management Bulletin 522 (4/26/2021)
2021 Compliance Monitoring
Management Bulletin 521 (4/1/2021)
Cook County Assessor’s RPIE Tool Webinar
Management Bulletin 520 (3/31/2021)
Extension of State and Federal Prohibitions on Evictions
Management Bulletin 519 (3/11/2021)
2021 Illinois Rental Payment Program
Management Bulletin 518 (2/11/2021)
Issuance of 2021 Compliance Connection
Management Bulletin 517 (2/9/2021)
IRS Renews COVID-19 Regulatory Relief for LIHTC Properties
Management Bulletin 516 (2/8/2021)
HUD Renews HOME Program Regulatory Relief
Management Bulletin 515 (1/21/2021)
2021 OCAF Adjustment
Management Bulletin 514 (1/21/2021)
2021 Social Security COLA Increase
Management Bulletin 513 (1/21/2021)
2021 Security Deposit Interest Rate
Management Bulletin 512 (1/14/2021)
Update on State and Federal Prohibitions on Evictions
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