“These buildings look fantastic and represent the kind of investment I and my team work every day to bring to the city of Harvey,” Mayor Clark said. “Everyone deserves a great place to live, especially our fellow residents in their senior years. And this looks great.” #housing
Next Gen is an opportunity for emerging developers across Illinois to gain knowledge in the Low-Income Housing Tax Credit (LIHTC) industry by providing access to affordable housing development training and project-specific technical assistance. #housing
This incentive makes it easier for developers to keep affordable housing in working-class neighborhoods around Cook County, and to build new affordable housing where it’s most needed,” said Cook County Assessor Fritz Kaegi. #housing
The launch of the Next Gen initiative builds on several steps taken by IHDA to increase diversity among affordable housing developers participating in the state's LIHTC program. #affordablehousing
Created in January 2022, the Preservation Program provides grants of up to $475,000 to affordable housing developments for property stabilization, rehabilitation and/or improvements
"The Low-Income Housing Tax Credit program is one of the best incentives the state of Illinois has to create affordable housing," said State Senator Robert Peters (D-Chicago).
#affordablehousing
New law aims to expand affordable housing through $75 million investment, tax credits - Gov. JB Pritzker on Thursday signed a measure aimed at increasing affordable housing investment in Illinois, as well as a measure expanding the state’s low-income energy assistance program.