Regional Housing Initiative

Breann Gala

12/3/2012

Regional Housing Initiative• Collaboration of IHDA, MPC, and 8

housing authorities across the 5-county region

• Existing and new construction is eligible• Provides stable income source for 15-year

period

Selection CriteriaIn a nutshell, homes should be:

1. Located near jobs and transportation;

2. Well planned, designed and managed; and,

3. Affordable to the local workforce and part of a “mix” of incomes

Threshold Requirements1. Traditional multifamily developments

cannot contain more than 25% of development with project-based vouchers

2. Minimum of 5 vouchers per development3. Senior housing not eligible

How to apply1. Download application off

MPC’s website

2. Meet 1-on-1 to discuss the proposal

3. Owner applications and LIHTC developer applications vary slightly

Woodstock Commons, McHenry County

Owner Applications1. Must complete the RHI

owner application

2. Required to meet with MPC staff prior to submission

3. Rolling deadline for applications

Leland Apartments, Chicago

LIHTC Developer Applications• Must submit the pre-

application, the full IHDA application, and short RHI narrative by the IHDA application deadline at 5pm

• Required to meet with MPC staff in advance

Claretian Place’s Casa Kirk

Approved RHI Developments

1. Commitment award letter formalizes the housing authority’s Board approval

2. Subsidy layering review

3. Housing Quality Standards inspection

4. Execute the AHAP/HAP with the housing authority

Thank you!

Please contact me if you have questions

Breann Gala

bgala@metroplanning.org

312.863.6029