The Illinois Housing Development Authority (IHDA) announced it will begin accepting applications for the development of permanent supportive housing. Available under the state’s Permanent Supportive Housing (PSH) Development Program, the funding round will provide loans, forgivable loans, and grants to qualifying developers who build or preserve affordable, permanent housing paired with case management and supportive services. The program is part of IHDA’s continuing efforts to accelerate the production of supportive housing to help Illinois achieve “functional zero” homelessness.
PSH is a combination of affordable housing and supportive services that helps individuals and families maintain stable housing and achieve a higher quality of life. Residents are typically households headed by persons with a disability, those who are at risk of homelessness, and others who may need supports to stay healthy and housed. It is a proven solution that creates better resident outcomes and reduces the use of costly emergency systems.
Non-profit, for-profit, and joint venture developers are eligible to apply for funds from the PSH Development Program. The application process is competitive, and development teams interested in learning more about this funding opportunity are strongly encouraged to attend IHDA’s upcoming webinar on Thursday, August 15, from 1:00 – 2:00 p.m. Participants are asked to register in advance here.
More information about the PSH Development program, submission deadlines, and the application process is available on the IHDA website. Program related questions can be sent to PSHRFA@ihda.org.
About the Illinois Housing Development Authority
IHDA is a self-supporting and mission-driven state agency dedicated to financing the creation and preservation of affordable housing in Illinois. IHDA offers affordable mortgages and down payment assistance for homebuyers, provides financing for the development of affordable rental housing, and manages a variety of assistance programs to create communities where all Illinoisans can live, work, and thrive. Since it was established in 1967, IHDA has delivered more than $27.8 billion in state, federal, and leveraged financing to make possible the purchase, development, or rehabilitation of more than 327,000 homes and apartments for low- and middle-income households. For more information on IHDA programs, visit www.ihda.org.
***Courtesy of the Illinois Housing Development Authority***
