Your Monthly Source for Multifamily Program Updates

Happy first day of spring from the Illinois Housing Development Authority. Please find our March Multifamily program updates below.

• The drafting of the 2024-2025 Qualified Allocation Plan (“QAP”) is underway. The tentative schedule is as follows:

• May - Statewide stakeholder meetings.
• Late July/Early Aug. - Draft QAP will be posted for public comment through the rest of the month.
• Sept. - The 2024-2025 QAP will be presented to IHDA’s Board for approval.

More details will be posted to the IHDA website in the coming weeks. Members of the development community are highly encouraged to submit their feedback on the current QAP and/or recommendations for the new QAP at: QAPfeedback@ihda.org.  

• Join the IHDA Multifamily team! IHDA has the following open positions in our Multifamily Financing Department:

• Development Officer
• Underwriter
• Senior Underwriter

Permanent Supportive Housing

Friday, March 17, 2023 – Award recommendations to IHDA Board

9% LIHTC

Week of April 17 – Clarification Period begins / responses due

Friday, June 16 – Award recommendations to IHDA Board

4% LIHTC

IHDA will continue to accept 4% LIHTC PPAs and full applications on a rolling basis through Dec. 31, 2023. For more information on application timing, please see the updated 2023 Multifamily Transaction Timeline.

This month, we sat down for a Q&A with Client Services Co-Team Lead, Mariano Alonso.

Where are you from originally?

• I was born and raised in Buenos Aires, Argentina. I moved to the U.S. 22 years ago.  

Where do you live now?

• I live in Skokie. I love the diversity of the village.

What is your role at IHDA?

• I am the Client Services Team Lead. I oversee the team that closes multifamily transactions.

When did you start working at IHDA?

• I started working at IHDA in 2011 as a member of the Hardest Hit Fund program assisting people impacted by the Great Recession. I also worked in the Loan and Portfolio Management Department before joining Multifamily Financing in 2017. 

What drew you to IHDA/affordable housing originally?

• I love IHDA's mission of “financing the creation and preservation of affordable housing.” I studied economics, and I love to work in a place where I can see economic programs impacting people’s lives. 

What do you find most rewarding about your job?

• It is very rewarding to know that the final product of your work is changing people’s lives by providing decent and affordable housing. 

What has been your favorite development while working at IHDA?

• I like all of them. I learn new things on every deal. I especially like developments that are located in areas I drive through often. I was able to see Evanston PSH and 1015 Howard go up as I drove by every week, and it is very rewarding.