IHDA Loan Officer of the Month
IHDA's Homeownership Department recognizes Lori Pratt, Mortgage Loan Officer at U.S. Bank in Orland Hills as its "Loan Officer of the Month." With 22 years of experience in the lending business, Lori can answer just about any question her buyers have about the mortgage process. Whether they are just getting started or already have a home picked out, she helps her clients through every step of the process to find the best loan for their budget. And Lori always ensures their new home will be a sound investment with the help of IHDA's down payment assistance. Thanks, Lori!
IHDA Awards & Recognition
Lenders and Realtors - IHDA would like to share the success stories of your new homeowners throughout the state. Send us a photo of your new homeowner, either at their new home or with their lender or Realtor, and we'll feature them on IHDA's Facebook page.

Send your photos to IHDA's Communications team and we'll get them posted!
IHDA Upcoming Dates


March 29-30, 2016
Hyatt Regency Chicago
151 E. Upper Wacker Dr.
Chicago, IL 60611
IHDA Provided More Than $1.1 Billion for Affordable Housing in 2015
IHDA Program NewsIHDA provided $1.1 billion for affordable housing and served more than 11,400 families in 2015, partnering with hundreds of lenders, developers and community development organizations to help low- and moderate-income households purchase or refinance a home, or find an affordable apartment.

Through a network of 180 participating community lenders, $856 million in loans and down payment assistance were made to 7,000 borrowers who purchased or refinanced a home using IHDA's @HomeIllinois and 1stHomeIllinois programs, making 2015 the second-most productive year in IHDA's 30+ years of mortgage lending.

For affordable and mixed-income rental housing, IHDA provided $260 million in loans and grants and tax credits that generated an additional $365 million in private investment for 45 rental communities and 4,400 affordable apartments. 2015 also saw the launch of three new taxable first position mortgages, which provide aggressive interest rates and low-cost capital to help developers improve the quality and affordability of rental housing in Illinois.

As we celebrate the end of another productive year, IHDA would like to extend our sincere thanks to our partners who made this success possible. Your time, expertise and advocacy for affordable housing creates new opportunities for thousands of Illinois families, and we look forward to working together in the year ahead.
Save the Date: The Illinois Governor's Conference on Affordable Housing is Set for March 29 - 30, 2016
We are excited to announce that the Illinois Governor's Conference on Affordable Housing will be held March 29 - 30, 2016 at the Hyatt Regency Hotel in downtown Chicago!

Co-hosted by the Illinois Housing Council and IHDA, the event draws affordable housing developers, non-profit organizations, community development corporations and other partners from across the state to discuss current industry trends and make new connections. Stay tuned for more updates and open registration in January!
Downstate Mayors Urge First-Time Homebuyers to Act Now for $7,500 in Down Payment Assistance
IHDA Program News Canton Mayor Jeff Fritz and Centralia Mayor Tom Ashby recently joined IHDA to encourage local homebuyers to take advantage of the $7,500 in down payment assistance available through the 1stHomeIllinois mortgage, Illinois' most recent incentive for first-time homebuyers in ten counties throughout the state.

Mayors Fritz and Ashby were accompanied by local lenders, Realtors and new homeowners who reminded residents who have not owned a home in three years to take advantage of the program while funding is still available. They emphasized the importance of homeownership opportunities that boost the local housing market, benefit current homeowners and strengthen the economy as a whole.

Visit www.ihda.org for more details on the program and a list of participating counties.
Renters Will Become Increasingly Cost-Burdened Over the Next Decade
A recent report by Enterprise Community Partners and the Harvard Joint Center for Housing Studies paints a bleak picture for low-income renters, projecting that the number of households with severe cost burdens - those spending more than half of their income on rent - is expected to rise by at least 11 percent by 2025.

Projecting Trends in Severely Cost-Burdened Renters: 2015-2025 predicts a growing renter affordability crisis, with the largest increases expected among older adults, Hispanics and single-person households. Even if the economy continues its slow recovery, the authors argue that there are simply not enough quality, affordable rental units to house the millions of cost-burdened households and that it is critical for policymakers at every level to prioritize the preservation and development of affordable rental housing. 
Affordable Housing Executives Discuss Challenges and Opportunities for the Industry in 2016
Affordable housing executives from across the nation joined the Affordable Housing Finance Editorial Board on November 18 to discuss challenges and opportunities for cost containment, fair housing and other issues at the annual AHF Live conference in Chicago.

One major concern going into 2016 is the U.S. Government Accountability Office's upcoming report on LIHTC development costs and the need for the affordable housing community to create messaging around that report that explains the true cost of affordable housing. Another challenge will be the impact of the Supreme Court's disparate impact ruling on the location of affordable housing investments, and how the barriers found in many high-opportunity areas will exacerbate cost containment issues.

Opportunities for the coming year were also raised, including an increasing awareness of the nation's affordability crisis, the growing market for workforce and senior housing, and the National Housing Trust Fund, which will be funded for the first time in 2016.

Visit Affordable Housing Finance for a recap of the challenges and opportunities ahead in 2016.
Village of Northlake Welcomes Affordable Housing for Seniors 
On October 22, Turnstone Development began construction on Wisdom Village of Northlake, a 71-unit affordable rental community for seniors 55 and older. Built on the site of a vacant car wash, the six-story building will transform a neighborhood eyesore into high quality housing for west suburban seniors.

Initially proposed in 2011, the development overcame a series of financial challenges with the support of the city, county and state. Mayor Jeffrey Sherwin of Northlake, Cook County Commissioner Jeffrey Tobolski and State Senator Don Harmon were among those who turned out to show their support.

Congratulations to the Village of Northlake, Turnstone Development, the Cook County Board of Commissioners and the Local initiatives Support Corporation for making Wisdom Village possible.
Lower Utility Costs Across Your Multifamily Portfolio with a Free Energy Benchmarking Service 
If you are spending too much of your budget on utilities and maintenance, a great starting point is to benchmark your portfolio. Tracking your utility usage over time helps identify inefficient buildings to prioritize improvement efforts. Elevate Energy, a nonprofit that has helped over 25,000 Illinois units with energy improvements, is currently offering FREE one-year subscriptions to WegoWise for affordable multifamily buildings in Illinois. WegoWise automatically imports data from hundreds of utility companies across North America, giving you useful knowledge right away that prepares you to take advantage of future energy efficiency opportunities. This is a limited time offer, so act quickly.

For questions or to sign up, please contact Ryan Wolber at Elevate Energy.
Hello Hello... We Want to Hear From You
Developers, please remember to reach out to IHDA when planning your groundbreakings and grand openings. Contact Max Mueller in IHDA's Marketing & Communications Department when planning your next event. He will help identify the best dates, times, speakers and media opportunities that make these events a success.