More housing for Illinois’ needy will be available in the coming months. The Illinois Housing Development Authority’s board has approved some federal tax credits intended to help 12 developments take shape around the state. Nearly 700 apartments are involved, and IHDA spokeswoman Rebecca Boykin says more than a third will be set aside for veterans and the disabled.
Click here for summary
The tax credits will leverage more than $100 million in private equity, she says. To qualify, the potential resident must earn no more than 60 percent of the area median income. In Chicago, that threshold would be $31,860. In Springfield, it would be $29,400.