IL Invests LIHTC to Boost Affordable Housing Construction in Metro East

More than 60 affordable rental apartments will be built in the Metro East area to increase opportunities for working families and people with disabilities, thanks to the allocation of federal tax credits approved by the Illinois Housing Development Authority (IHDA) board. The tax credit allocations will generate an estimated $6.6 million in private equity to build two developments in Metro East. Statewide, 12 developments totaling nearly 700 affordable rental apartments will be added across Illinois as a result of the federal tax credits that will create $117.6 million in private equity. Demonstrating the State of Illinois’ dedication to creating more supportive housing opportunities, more than one-third of the total units will help veterans and people with disabilities find stability in communities.

STLToday.com

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