Mission Driven Impact
Throughout Illinois

IHDA ANNUAL REPORT FISCAL YEAR 2018

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

The principal housing challenges facing Illinois in Fiscal Year 2018 were recovery and revitalization needs at the local level, the lack of affordable homeownership opportunities, and the need to address the growing shortage of affordable rental housing across the state. IHDA met each of these challenges with tangible results.

In FY2018, IHDA’s mortgage assistance and foreclosure mitigation programs provided $66.6 million to help 3,240 families save their home after a loss of income. FY2018 also saw IHDA close over $743.3 million in loans with 5,500 homebuyers, the majority of which purchased their first home in a community targeted for revitalization. Finally, on the rental housing side of our business IHDA invested $332.7 million and leveraged $460.5 million to build or preserve 2,944 affordable units in 36 developments.

Making An Impact

“I heard about IHDA through a Facebook post and thought, “Well, I don’t know?” Home improvement, I needed that, so I thought, “What is there to lose?” I started meeting with the inspector and it all started happening. I think I’m happier now, then I’ve been in my entire life.”

Melissa WilliamsSingle Family Rehabilitation Program (SFR) Recipient

“Our lives have improved tremendously since we moved here; without a doubt, financially and health wise. It (Anthony Place Senior Apartments) has really has been a blessing!”

Geneva and David Fiore Sr.Residents at Anthony Place Senior Apartments

“This program will help me own my first home, allowing me for the first time to invest significantly in my future and build savings.”

Robert RomanoIstHomeIllinois Homebuyer

“Through IHDA, I was able to provide to provide first-time homebuyer, Chris Brady with $10,000 to go towards down payment and closing costs. It’s very important to share these incredible programs through IHDA with homebuyers knowing of the end result that I sit here today with a happy homeowner.”

Joseph LaGigliaSr. Mortgage Loan Originator at Oak Leaf Community Mortgage

“I live in a home here alone and my home is about a hundred years old, so you can figure it’s not handicap accessible. In 2014, I was ill and that’s when I became disabled. He (Greg Grill, of UCP Seguin of Greater Chicago) sent me an app (for the Home Accessibility Program). I did the app and everything worked out. It’s been a great experience for me. If anyone else needs help, all they have to do is just reach out.”

Eve SalazarHome Accessibility Program (HAP) Recipient

“This program gave me the opportunity to build equity so I could take the first step toward a life goal! Without the program I would have had to continue renting where I felt like my money was just thrown away. Now I feel like I’m building toward something.”

Brittany HumphreyIstHomeIllinois Homebuyer

“This program was very helpful to me. Without this assistance I don’t know if I would have been able to purchase a home. I never thought that I would ever want to put down roots and be responsible for the upkeep of a property, but times changed and I feel I’m ready for this big step and welcome the challenge. I’m very proud to call myself a home owner and to have the ability to purchase a home at this stage in my life is amazing. Thank you Illinois Housing Development Authority.”

Matthew HapemanIstHomeIllinois Homebuyer

“I had never been laid off a job before and didn’t really know what to do. The IHDA process was a smooth process. I didn’t have to jump through hoops to do it. I’m very grateful for the Hardest Hit Program. I’m very thankful because it has allowed me to breathe and not have to worry about if my mortgage is going to get paid. I would recommend the Hardest Hit Program to anyone that runs into a hardship.”

Selena ArmstrongHardest Hit Fund (HHF) Recipient

“IHDA has been very much a blessing to our family. We are very grateful for this program because it has eased our way into purchasing our first home. Keep helping others out!”

Pablo Casas-EspinoIstHomeIllinois Homebuyer

FY2018 Homebuyer Profile

FY2018 Rental Housing Impact

IHDA PRODUCTIVITY

FY2018 Homeownership and Rental Investment

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.

FY2018 RESOURCE HIGHLIGHTS

The Authority successfully maintained a strong rating with issuer credit ratings of A1, AA-, and AA- from Moody’s Investors Service, Standard & Poor’s, and Fitch Ratings, respectively. In addition, Moody’s upgraded their ratings on IHDA’s Homeowner Mortgage Revenue Bonds Indenture to Aa2. The Authority also issued $120 million in single family tax-exempt bonds for our first-time homebuyer loan program, $10.69 million in economic refunding of prior Authority bonds, all of which were multifamily related, and issued one new series of short-term tax-exempt Multifamily Revenue Notes totaling $3 million to finance the acquisition and rehabilitation of an affordable multifamily development. In addition to the issuances of bonds, as discussed above, the Authority also partnered with the Federal Financing Bank (“FFB”) on a multifamily risk share program. This risk share program has allowed the Authority to increase originations and add insured long term assets to our portfolio. The Authority has created $6.5 million in such assets for FY2018.

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17

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 FY2018 these resources included:

S T A T E

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
Rental Housing Support Program

F E D E R A L

Hardest Hit Funds
HOME Investment Partnerships Program
Low-Income Housing Tax Credits
Mortgage Credit Certificates
National Housing Trust Fund Program
811 Rental Assistance
NSP 1 & 3

NONDISCRIMINATION POLICY

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:

Mission Driven Impact
Throughout Illinois

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

Illinois Hardest Hit Program

Single Family Rehabilitation (SFR) Program

Home Accessibility Program (HAP)

Access Mortgage

Community Revitalization

Rental Housing

Making An Impact

FY2018 Homebuyer Profile

FY2018 Rental Housing Impact

FY2018 Homeownership and Rental Investment

FY2018
Homeownership

FY2018
Multifamily

FY2018
Revitalization

IHDA Historical
Activity

Financial Strength Through Stability

Mission Driven ImpactThroughout Illinois

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

Illinois Hardest Hit Program

Single Family Rehabilitation (SFR) Program

Home Accessibility Program (HAP)

Access Mortgage

Community Revitalization

Rental Housing

Making An Impact

FY2018 Homebuyer Profile

FY2018 Rental Housing Impact

FY2018 Homeownership and Rental Investment

FY2018 Homeownership

FY2018 Multifamily

FY2018 Revitalization

IHDA Historical Activity

Financial Strength Through Stability

Mission Driven Impact
Throughout Illinois

FY2018
Homeownership

FY2018
Multifamily

FY2018
Revitalization

IHDA Historical
Activity