Your Monthly Source for Multifamily Program Updates

This newsletter will provide the development community with general information, programmatic updates, and important upcoming dates. It will also serve as a forum to highlight exciting new affordable housing developments across Illinois, and spotlight the work of IHDA’s dedicated staff.

• In anticipation of the upcoming 2023 9% Low-Income Housing Tax Credit (LIHTC) round, IHDA would like to remind sponsors that the initial financial closing of an awarded project is to occur ten months after execution of the reservation letter. Sponsors with awards from previous IHDA 9% LIHTC funding rounds that have exceeded that deadline, and do not have a reasonable plan to close as determined by IHDA, may be ineligible for additional 9% awards. Please contact your assigned development officer or underwriter if you have any questions.

• On July 15, 2022, the IHDA Board approved 28 developments totaling $13.3 million in Rebuild Illinois capital funds to acquire and/or rehabilitate properties across Illinois to provide transitional, service-intensive housing to individuals exiting the criminal justice system. IHDA expects to begin closing awards for the Housing for Justice Involved Persons program this quarter.

• IRS Notice 2022-52 extends major LIHTC statutory deadline relief provided in Notice 2022-05.

• The IRS released final and temporary regulations for the average income test.

• IHDA recently updated its multifamily bond and first mortgage loan program guide sheets. Please reach out to Jack Wambach if you have any questions.

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



• Compliance Coordinator II

• Construction Field Representative II

• Development Officer

• Senior Architecture and Construction Coordinator

Permanent Supportive Housing

Dec. 16, 2022 – Full Application Deadline

9% LIHTC

Feb. 16, 2023 – Full Application Deadline for 2023 Round

4% LIHTC

IHDA will continue to accept 4% LIHTC PPAs and full applications on a rolling basis through Dec. 31, 2023.  

Where are you from originally?

• I am from the Chicagoland area. I grew up in the Ashburn Neighborhood of Chicago and the southwest suburb Oak Lawn.

Where do you live now?

• I currently live in the Lake View neighborhood of Chicago.

What is your role at IHDA?

• Underwriter.

When did you start working at IHDA?

• Mar. 17, 2020 – The first Tuesday of everything shutting down due to the pandemic.

What drew you to IHDA/affordable housing originally?

• What interested me in IHDA was the Multifamily Department's role in being an actor in public-private partnerships that seek to solve one of the larger issues facing the city and state.

What do you find most rewarding about your job?

• Knowing I’m working towards something that addresses a fundamental aspect of people’s everyday life.

What has been your favorite project while working at IHDA?

• North Park Village has been the most interesting transaction I have worked on due to its rich and unusual history. Initially the land was a tree nursery, after the owner passed, his family donated much of the land to the city of Chicago to be a municipal tuberculosis sanitarium. After tuberculosis declined due to breakthroughs in modern medicine it was converted into affordable senior housing.