Thirteen Illinois Developments Receive Tax Credits (HousingFinance)

HousingFinance
(7/2/2014 12:18 AM, Staff)

The Illinois Housing Development Authority (IHDA) has announced that it has approved almost $10 million in low-income housing tax credits (LIHTCs) in its first allocation round. Thirteen developments with nearly 700 affordable housing units will be built or preserved across the state.

The LIHTC allocations will generate an estimated $89 million in private equity and more than 1,400 jobs across the state, according to IHDA.

The developments receiving allocations, which include the renovation of a former nursing home and the replacement of foreclosed single-family properties into homes for working families.