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ILLINOIS (WCIA) — Governor JB Pritzker signed an executive order on Wednesday to help expand affordable housing for Illinoisians. The order will enlist agencies throughout the state to explore ...
The LIHTC provides funding for the development costs of low-income housing by allowing an investor (usually the partners of a partnership that owns the housing) to take a federal tax credit equal to a percentage (either 4% or 9%, for 10 years, depending on the credit type) of the cost incurred for development of the low-income units in a rental housing project.
Construction has begun on a senior housing project in Westminster. Once completed, the town will have 50 affordable senior apartments behind the Community Senior Center at 69 West Main St ...
The Chicago affiliate of national real estate firm Related Companies and a major affordable housing and mixed-use developer known for its expertise in preservation projects purchased Parkway Gardens in 2011. The company completed a significant renovation of the property in September 2013, preserving a site with historical significance and ...
Non-profit housing developers build affordable housing for individuals under-served by the private market. The non-profit housing sector is composed of community development corporations (CDC) and national and regional non-profit housing organizations whose mission is to provide for the needy, the elderly, working households, and others that the private housing market does not adequately serve.
A friendly 40B means the developer of a state-approved 40B Comprehensive Permit project agrees to listen to the town officials' and residents' input concerning the development.
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