July 13, 2017
10 a.m. - 12 p.m.
Rockford Public Library
Nordlof Center - Sullivan Theater
118 N. Main St.
Rockford, IL 61101
July 21, 2017
11 a.m.
111 E. Wacker, Ste. 1000
Chicago, IL 60601
July 21, 2017
1:30 p.m. - 3:30 p.m.
111 E. Wacker,
Ste. 1000
Chicago, IL 60101
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IHDA's Homeownership Department is pleased to name
Pete Thompson, Loan Consultant at loanDepot in Lisle as Loan Officer of the Month
. Pete has been helping families and individuals buy their own homes and take control of their financial future since 1992, creating unique loan solutions for every specific mortgage need. He and his team of underwriters take the time to learn about their clients' short and long term goals, making sure they have the information they need to make the decision that is right for them. And with the help of IHDA's first mortgage and refinance programs, they are able to offer the financing option that will be the best fit both now and in the future.
T
hanks, Pete!
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For more immediate updates, please join us on IHDA's Facebook page and follow us on Twitter:
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 A Note from Audra's Desk
Dear Housing Partners,
We are proud to announce that our first online LIHTC application intake through our new Multifamily Portal was a success! There were 57 applications successfully uploaded into the system. Thanks to all of you who tested the site before we went live.
- "Really fast-working portal. Overall, loved it! Used both internet explorer and Chrome. Both worked great."
- "Thank you! I appreciated being able to submit the application electronically. It gave me a little extra time, saved a little money, and saved a few trees."
- "This process is much better than printing and hand delivering the final application with an electronic copy. Bravo Zulu IHDA for an electronic submittal."
- "The process proved much more navigable than a paper process. And saved a few trees to boot. The access to TA to get questions answered in a timely manner during the process was key, we think. It's pretty incredible that your team was able to pull something off of this magnitude without any major glitches.
 Allow me to introduce my new friend from central Illinois. Keith is a veteran that had been living with his mother in their family home. When his mother passed away, Keith was devastated and realized there was no way he could take care of their home with the income he had from SSDI. He is now living independently in a new affordable apartment and loving his fresh start in life.
Congratulations to the City of Herrin on being one of the first grantees to receive payouts under the latest round of the Single Family Rehabilitation Program. Their first SFR client was a family that received $17,650 to address safety issues and bring their home up to code by installing new plumbing, putting in new flooring and repairing broken windows. We're looking forward to more success stories!
The IHDA Homers missed the Grant Park Softball League's 2017 Playoffs by a single game, ending the season at an even 3-3. Thanks to everyone who played and supported the team during a great season. Developers, we have been practicing! Look for details on a possible game later this summer.
I want to thank Harlan Karp who joined us for his final meeting last month after more than four years as a board member. Since he was appointed in 2013, Harlan has been active in helping shape IHDA's Asset Management policies.
Finally, it i
s my pleasure to introduce Lorraine Hocker as the newest member of the IHDA Board! Lorraine is a residential real estate broker and the former director of the DuPage Housing Authority's Housing Choice Voucher program. Her first meeting will be this month, and we're excited for her to bring her experience and perspective to her new role at IHDA!
Audra
Executive Director
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LIHTC Updates: QAP Summits and 2017 Application Next Steps
2017 Qualified Allocation Plan Summits:
Thank you to everyone who registered for the 2017 QAP summits and provided concepts or questions to drive the discussions. We had great turnouts and productive discussions at the first meetings in Springfield and Belleville, and we expect more of the same at the final sessions in Rockford and Chicago.
See the dates, times and locations of each summit in the
Upcoming Dates
section. If you are unable to attend but would still like to provide comments or suggestions regarding new policies, focus areas, metrics, data sets or procedures within the QAP, you can do so in the QAP Summit Survey until Friday, July 14.
2017 Application Next Steps:
Thank you to everyone who submitted their 2017 LIHTC application before the June 23 deadline. The complete list of full applications received is available
here. The Multifamily Finance team is in the process of reviewing and scoring the applications and will make their award recommendations to the IHDA Board in September.
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IHDA's Lending Partners Helped 500 Homebuyers and Homeowners During National Homeownership Month
June was National Homeownership Month, and hundreds of Illinois families turned to participating IHDA lenders for the tools, education and services that make stable homeownership possible. In only 30 days, lenders connected their clients with $68 million in IHDA first mortgages, down payment assistance and principal reduction assistance, allowing 500 households to purchase their first home or refinance their underwater mortgage.
Potential homebuyers consistently point to an inability to afford the down payment and closing costs as a primary obstacle to homeownership, but lenders and Realtors who offer IHDA's affordable homeownership products have an advantage to help these underserved households become homeowners. With up to $7,500 in down payment assistance, dollar-for-dollar reductions to federal income tax liability and free pre-purchase education, the 1stHomeIllinois and @HomeIllinois programs make homeownership more accessible and sustainable for working families. And for lenders working with underwater homeowners, I-Refi is the only program available that will permanently reduce the amount they owe on their mortgage and refinance them into a new loan with lower monthly payments.
It is quick and easy to become an IHDA lender, and it could be the difference that helps your client purchase their first home. For questions about our programs or becoming an IHDA lender, please contact our
Homeownership team at
[email protected]
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Illinois Hardest Hit Program Offers a $35,000 Lifeline for Families Struggling with Mortgage Payments
While foreclosures have largely faded from the headlines, many homeowners are still at risk of losing their homes, and local agencies across the state are working to connect their clients with a $35,000 lifeline from the Illinois Hardest Hit program.
Sandy Kleinhans needed help after a health scare ended her 36-year career. Suddenly on disability, she was unable to keep up with the mortgage she had been paying for 19 years, and was worried she would lose her home. Nearly out of options, she contacted the Northwest Side Housing Center, and with the help of housing counselor Migdalia Vazquez, she was approved for assistance from the Hardest Hit program. With her past due mortgage obligations paid and assistance with her monthly payments for the next 12 months, Sandy has a second chance and the time she needs to get back on her feet.
Thousands of homeowners have successfully saved their homes through the Illinois Hardest Hit program. If you need help paying your mortgage, don't wait. Apply today at www.IllinoisHardestHit.org.
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 Supportive Housing Development Celebrates Opening in Wheeling
IHDA joined UP Development, the Housing Authority of Cook County and a group of more than 50 residents, representatives of elected officials and disability advocacy groups on June 26 to celebrate the opening of PhilHaven in Wheeling, a brand new supportive housing development offering 50 homes for residents with disabilities.
Demand for the apartments was high from the start - more than 200 people waited in line last summer to apply for the 50 available units. The building offers private living space on the second and third floors with on-site management offices and community amenities on the ground level. Residents also have access to a variety of on-site supportive services provided by the Kenneth Young Center to promote independence and self-sufficiency, including behavioral and mental health counseling, assistance getting to doctor's visits and help finding a job.
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Construction Underway on New Senior Apartments in Yorkville
GC Housing Development and the Burton Foundation began construction on Anthony Place Yorkville Senior Apartments on June 30, breaking ground on a two-story development that will provide 50 affordable apartments for seniors in Kane County.
When complete, the development will offer a mix of one- and two-bedroom apartments, with a quarter of all units reserved for low-income seniors with disabilities or those at risk of homelessness.
The United City of Yorkville has also established a Rental Assistance Fund for three units that will ensure residents pay no more than 30 percent of their annual income on rent and utilities.
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 IHDA's Multifamily Team Gives Back to the Greater Chicago Food Depository
Thanks to the Multifamily Financing team for donating their time and energy to volunteer at the Greater Chicago Food Depository last month. Together with other volunteers, they helped pack over 12,000 pounds of food that will serve more than 10,000 meals for families in need throughout Cook County.
Thanks again to the Multifamily team for making a difference to those in need!
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Developers... We Want to Hear From You
Please remember to reach out to IHDA when planning your next groundbreaking or grand opening. Contact
Max Mueller in IHDA's Marketing & Communications Department to help identify the best dates, speakers and media opportunities that make these events a success.
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