I H D A A N N U A L R E P O R T F I S C A L Y E A R 2 0 1 6
Community Stabilization
IHDA Sparks an Economic Revival
The Illinois Housing Development Authority’s mission is to finance the creation and preservation of affordable housing in Illinois.
As an independent, self-supporting agency, we administer a number of state and federal resources and issue bonds based on our own strong credit rating. Our programs allow families to buy and maintain affordable homes and our investments result in quality developments that generate jobs and dollars for the state’s economy. IHDA invested $1.4 billion in 10,037 units of affordable housing in FY2016, generating $639 million for Illinois’ economy, creating 7,400 jobs and helping families find quality, affordable homes throughout the state.
10,037
Affordable Housing Units Created
$1.4 billion
Invested in Affordable Housing
$639 million
Illinois Revenue Generated
7,400
Jobs Created for Illinoisians*
*According to estimates provided by the National Association of Home Builders (NAHB) and the Economic Impact of Single Family Home Sales from the National Association of Realtors
Multifamily Lending
IHDA Streamlines Rental Housing Financing
Rental Housing
IHDA Provides a Safe Place to Prosper
FY 2016 Homebuyer Profile
Active Rental Portfolio
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I H D A P R O D U C T I V I T Y
IHDA FY16 Homeownership and Rental Investment
F I N A N C I A L S T R E N G T H T H R O U G H S T A B I L I T Y
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.
FY2016 RESOURCE HIGHLIGHTS
We successfully maintained strong ratings with issuer credit ratings of A1, AA- and AA- from Moody’s Investors Service, Standard & Poor’s, and Fitch Ratings, respectively. In addition, S&P and Moody’s affirmed their ratings on IHDA’s Homeownership Revenue Bonds Indenture and the Multifamily Housing Bonds Indenture. We issued $70.1 million in single family tax-exempt bonds in reference to our first-time homebuyer loan program.
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 FY2016 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
F E D E R A L
- Hardest Hit Funds
- HOME Investment Partnerships Program
- Low-Income Housing Tax Credits
- Mortgage Credit Certificates
- National Foreclosure Mitigation Counseling
- 811 Rental Assistance
FINANCIAL INFORMATION REVIEW
Independent accountants as special assistant auditors to the Auditor General of the State of Illinois have performed a financial audit of the authority. Reports on the financials for the years ended June 30, 2016, and supplementary financial reports for the year have been prepared in accordance with the Single Audit Act of 1984, as amended in 1996, and the Provisions of OMB Circular A-133, “Audits of States, non-profits, and local organizations.” The audited FY2016 financial statements are available at www.ihda.org or in the Offices of the Auditor General in Chicago and Springfield, Illinois.
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: