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The Illinois Housing Development Authority’s mission is to finance the creation and preservation of affordable housing in Illinois.

As an independent, self-supporting agency, we administer a number of state and federal resources and issue bonds based on our own strong credit rating. Our programs allow families to buy and maintain affordable homes and our investments result in in quality developments that generate jobs and dollars for the state’s economy. We invested $2.1 billion in 16,321 units of affordable housing in FY2015, generating $815.9 million for Illinois’ economy, creating 12,300 jobs and helping families find quality, affordable homes throughout the state.

Affordable Housing Investment $2.1 billion 16,321 units

Generating $815.9 million 12,300 jobs



Through IHDA’s network of 180 participating lenders, $1.5 billion in loans were made to 12,200 families, generating 6,100 jobs and infusing $297.6 million into Illinois’ economy. FY2015 was IHDA’s biggest year in over 30 years of mortgage lending and the most productive year in HFA history.

Abbie’s New Family Home

IHDA Homeownership

Abbie’s Story

When 24-year-old Abbie Sundberg’s mother lost her battle with cancer, the dedicated single mom was determined to find a stable home to raise her two young children and three siblings. “I wanted to have enough living space for everyone.”

Finding a large enough home wasn’t the only challenge – saving for the large down payment could take years. In December 2014, IHDA’s Welcome Home Illinois program provided the answer to her dreams with $7,500 in down payment assistance and a below-market interest rate. 




IHDA’s Solution

IHDA introduces programs to help interested and qualified homebuyers enter the marketplace, including Welcome Home Illinois focusing on first-time buyers.

The Results



Homebuyer Profile



IHDA invested $630.4 million and leveraged $215.9 million to build 1,100 new rental units in 21 developments while preserving 3,000 units in 26 developments.

Ron regained his independence in 2015

Permanent Supportive Housing

Ron’s Story

“Getting outside again is amazing,” said Ron Smith, who regained his independence in 2015 with help from Home First. As the result of a tragic accident in 1988, Ron was paralyzed from the neck down, leading to 27 years of nursing home life. Now, living in his own apartment in Chicago’s western suburbs, he savors this freedom that provides security, comfort and peace of mind. 




IHDA’s Solution

IHDA provides funding and tax incentives to develop and rehab affordable housing units in communities across the state.




IHDA provided funds for the maintenance, demolition and reuse of 2,300 properties while also leveraging the Low-Income Housing Tax Credit program to support targeted revitalization efforts.

David Brint, CEO of Brinshore Development, LLC.

Award-Winning Innovation

Abandoned to Affordable

With vacant homes plaguing communities across the state and rents continuing to rise, IHDA has come up with an innovative solution. By leveraging federal tax credits and low-interest loans, IHDA helped one developer buy and renovate 26 central Illinois homes that had been foreclosed upon and were sitting vacant. The result: IHDA is assisting existing homeowners, strengthening neighborhoods and boosting affordable housing options for working families. And that’s only the beginning.




IHDA’s Solution

IHDA creates programs to provide local communities with funding aimed at acquiring and renovating or demolishing abandoned homes to help revitalize their neighborhoods.



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IHDA FY15 Homeownership and Rental Investment




IHDA is a bonding authority and independently sells bonds and other debt instruments to support our activities. Our financial strength enables us to access capital at a lower cost and transfer the savings to homeowners and developers in the form of lower interest rates.

FY2015 Resource Highlights

We successfully maintained strong ratings with issuer credit ratings of A1, AA- and AA- from Moody’s Investors Service, Standard & Poor’s, and Fitch Ratings, respectively. In addition, S&P and Moody’s affirmed their ratings on IHDA’s Homeownership Revenue Bonds Indenture and the Multifamily Housing Bonds Indenture. 

Our state and federal resources

State and federal resources allocated by IHDA also help us to finance quality affordable housing and avert home foreclosures across Illinois. In FY2015 these resources included:


  • Abandoned Properties Program
  • Affordable Housing Tax Credits
  • Affordable Housing Trust Fund
  • Cook County Mortgage Foreclosure Mediation Program
  • Foreclosure Prevention Program
  • Foreclosure Prevention Program Graduated Fund
  • Illinois Jobs Now!
  • Capital Program
  • Rental Housing Support Program


  • Hardest Hit Funds
  • HOME Investment Partnerships Program
  • Low-Income Housing Tax Credits
  • Mortgage Credit Certificates
  • National Foreclosure Mitigation Counseling
  • Neighborhood Stabilization Program


Independent accountants as special assistant auditors to the Auditor General of the State of Illinois have performed a financial audit of the authority. Reports on the financials for the years ended June 30, 2015, and supplementary financial reports for the year have been prepared in accordance with the Single Audit Act of 1984, as amended in 1996, and the Provisions of OMB Circular A-133, “Audits of States, non-profits, and local organizations.” The audited FY2015 financial statements are available at www.ihda.org or in the Offices of the Auditor General in Chicago and Springfield, Illinois.


i. Pursuant to Title II of the Americans with Disabilities Act as amended (ADA) of 1990 (42 U.S. C. §§12101 et seq.) and Section 504 of the Rehabilitation Act of 1973, as amended (Section 504) (29 U.S.C. §794) the Illinois Housing Development Authority (IHDA) does not discriminate against qualified individuals with disabilities in its policies, or in the admission of, access to, treatment of or employment in its programs, federally assisted programs, services or activities. IHDA will provide special communication assistance to persons with vision and/or hearing impairment. IHDA has designated the following person responsible for coordinating compliance with the nondiscrimination requirements:

Maureen Ohle
Illinois Housing Development Authority
401 N. Michigan Avenue
Chicago, IL 60611