Your Source for Multifamily Program Updates

• The Illinois Housing Development Authority (IHDA), serving as the Housing Credit Authority (HCA), has conducted Subsidy Layering Reviews (SLRs) for newly constructed and rehabilitated multifamily developments, with an award of LIHTCs. Effective immediately, IHDA will be performing Subsidy Layering Reviews for developments receiving allocations of HOME and NHTFs from the Authority, without an allocation of LIHTCs.  

• IHDA has developed a new multifamily mortgage program for sponsors seeking to substantially rehabilitate developments with 90-100% of units covered by a Project-Based Section 8 contract. The goal of the program is to provide highly competitive long-term, fixed-rate financing to preserve critical housing stock. More information can be found here. Please contact multifamilylending@ihda.org with any questions. 



• IHDA released the Request for Applications (RFA) under its Permanent Supportive Housing (PSH) Development Program Round X with options for Healthy Housing, Healthy Communities (H3C). Financing is available for the acquisition, rehabilitation, and/or new construction of PHS projects that serve the most vulnerable populations and offer flexible voluntary supportive services designed to increase housing stability. Applications will only be accepted by teams that participated in the required concept and webinar meetings. The deadline to apply for the PSH Round X is January 16, 2024.                                             

• For matters involving IHDA’s Portfolio Risk Management Team (e.g., change in ownership request, property management change, loan modification, etc.), please make your request using the PRM Form. As noted in the form, a Special Assets Manager will be assigned no later than five (5) business days after receipt of the request. The Special Assets Manager will review the request and engage others within IHDA as applicable. If you have any questions in the interim, please contact the Portfolio Risk Management Team at SpecialAssets@IHDA.org

• IHDA would like to encourage you to visit the Developer Resource Center on the IHDA website for a variety of helpful information and tools. For example, in the “Cross Program Documents Section,” you can find over 20 sample due diligence checklists, fillable form legal certifications (such as the architect’s certificate, the drug free workplace certificate etc.), and fillable multifamily forms (such as the owner’s sworn statement, etc.)

• Design, Construction and Regulatory Compliance (DCRC) Requirements
• IHDA will be issuing updates to the DCRC Requirements in mid-January with future updates to be issued at the beginning of each quarter. The update schedule for 2024 is anticipated to be as follows:

o  Monday, January 15, 2024

o  Monday, April 15, 2024

o  Monday, July 15, 2024

o  Monday, October 21, 2024

• 2024 9% LIHTC Application Workshop – Thursday, January 25, 2024 at 1:00 p.m.
• Please join us for an application workshop for the 2024 9% LIHTC round. Multifamily staff will provide an overview of crucial updates to this year’s competitive round, including highlighting changes to the QAP, Underwriting Guide, subsequent submission materials, and process. Please register for this virtual event at this registration link.

• As a reminder, IHDA is accepting applications for funding for its Non-Congregate Shelter Development Technical Assistance (NCSD TA) Request for Applications (RFA). Funding is available for experienced non-profit or for-profit organizations to provide training and technical assistance to developers focused on the various project components necessary to create and operate successful HOME-ARP compliant Non-Congregate Shelter developments. The goal is to prepare and support applicants for IHDA’s future HOME-ARP Non-Congregate Shelter Acquisition and Development RFA.

• Interested parties are encouraged to review the Request for Applications for more information. Applications are due IHDA by 5:00 p.m. on Monday, January 29, 2024. Applications must be submitted electronically to HOMEARP@ihda.org

• The Supportive Housing Providers Association and CSH will host an information webinar to provide an overview of the Supportive Housing Institute and how you can get involved. The session will also include an introduction to Permanent Supportive housing and an overview of IHDA’s Permanent Supportive Housing Development Program. It will be held on Tuesday, January 9, 2024 at 1:00 p.m. Click here to learn more and to register!

Permanent Supportive Housing

Tuesday, Jan. 16, 2024 – Applications due

Friday, April 19, 2024 – PSH awards presented to IHDA Board

9% LIHTC

Friday, Feb. 2, 2024 – PPA notifications to sponsors

Friday, Mar. 29, 2024 – Applications due

Friday, July 19, 2024 – LIHTC awards presented to IHDA Board 

4% LIHTC

IHDA will continue to accept 4% LIHTC PPAs and full applications on a rolling basis through the end of 2024. For more information on application timing, please see the updated 2024 Multifamily Transaction Timeline.

Where are you from originally?

• I am from San Antonio, Texas. I lived there for 21 years until I moved away for school.

Where do you live now?

• I live in the Wicker Park neighborhood in Chicago.

What is your role at IHDA?

• I am a Senior Development Officer. I review applications for our Permanent Supportive Housing and 9% LIHTC competitive funding rounds and bring awarded projects through the closing process.

When did you start working at IHDA?

• I started at IHDA just over two years ago. 

What drew you to IHDA/affordable housing originally?

• My interest in affordable housing stems from my personal experience with housing insecurity growing up and in my early 20s. I went to graduate school to study urban planning with a focus on affordable housing. After graduating I spent time working for the Urban Redevelopment Authority in Pittsburgh on their single-family programs. I knew from my studies and an internship during grad school that I ultimately wanted to end up in the multifamily side of affordable housing which led me to IHDA. 

What do you find most rewarding about your job?

• Earlier this year we were given the opportunity to tour several IHDA developments in the Chicago area. During this tour we met with tenants and saw what our work helps to create. In my role, we are very involved until a project closes and then we usually don’t have interaction beyond the closing, so it was incredibly inspiring to see the culmination of what we do! Just knowing that the outcome of our jobs creates affordable homes for people all over the state is the most rewarding part.

What has been your favorite project while working at IHDA?

• It’s hard to choose, but I have a soft spot for our Permanent Supportive Housing projects. These developments target special needs populations who are most at risk of homelessness and provide supportive services for their tenants. Earlier this year we closed on Kankakee Veterans Housing which is 14 units made available for low-income veterans experiencing homelessness and in need of supportive services. The development is still under construction, but I can’t wait to see it when it’s all finished!

Join the IHDA Team!

Open positions can be found on IHDA’s website.