IHDA has helped finance more than 150,000 units of affordable housing, with more than $6.4 billion. While we have helped bring affordable housing to every county in the state, IHDA does not own property, rent apartments or manage buildings. We are strictly a financing entity, and help to finance affordable housing through homeownership programs targeted at low- or moderate-income households, or with multifamily development financing to help developers build rental properties for at-need populations.
As an independent and self-supporting Authority, IHDA accomplishes its mission through a number of federal and state funding sources, including:
• The Illinois Affordable Housing Trust Fund
• The Illinois Affordable Housing Donations Tax Credit Fund
• The allocation of federal Low Income Housing Tax Credits
• Federal HOME Investment Partnership Program funds and others.
IHDA also independently sells bonds, based on its own good credit rating, to access capital from the private markets to finance affordable housing across the state.