- Illinois Housing Development Authority
- 111 E. Wacker Drive, Suite 1000
- Chicago, Illinois, 60601
- Email: pshrfa@ihda.org.
- Website Link:
Purpose of the Program
The national Housing Trust Fund (HTF) purpose is to increase and preserve rental housing and homeownership opportunities for extremely-low (30% AMI or below) and very-low income (50% AMI or below) households. HTF was established as a permanent federal program, with dedicated sources of funding coming from a percentage of after-tax profits from two Government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac, which are not subject to the appropriations process.
Who is Eligible
Eligible activities and expenses include:
- Real property acquisition
- Site improvements and development hard costs
- Related soft costs
- Demolition
- Financing costs
- Relocation assistance
- Operating cost assistance for rental housing
- Reasonable administrative and planning costs
- Eligible forms of assistance include:
Equity investments
- Interest-bearing loans or advances
- Non-interest bearing loans or advances
- Interest subsidies
- Deferred payment loans
- Grants
Other forms of assistance approved by HUD
Application Deadline
Annual deadline varies. Check website for details: https://www.ihda.org/developers/supportive-housing/
Availability of Funds
HTF rules requires that at least 90% of the funds be used for the production, preservation, rehabilitation, or operation of rental housing. Up to 10% can be used for the following homeownership activities for first-time homebuyers: production, preservation, and rehabilitation; down payment, closing cost, and interest rate buy-down assistance.
State housing agencies are the only direct grantees under the program. Under HUD rules, each State is required to prepare an annual Allocation Plan describing how it will distribute HTF resources based on its priority housing needs as identified in the State’s Consolidated Plan (ConPlan). IHDA will use its Multifamily Financing “Common Application” as the major application format for national HTF rental housing projects, the same one used for the LIHTC and HOME programs, along with supplemental information required by program rules (see Permanent Supportive Housing Development Program Request for Application). https://www.ihda.org/developers/supportive-housing/