FINANCIAL STRENGTH THROUGH STABILITY
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
FINANCIAL INFORMATION REVIEW
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:
Illinois Housing Development Authority
401 N. Michigan Avenue
Chicago, IL 60611