reglab/statecodes huggingface dataset:
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 366 - AFFORDABLE HOUSING BOND PROGRAM - SINGLE FAMILY › Subpart A - GENERAL RULES › Section 366.102 - Purposes and Objectives

Current through Register Vol. 48, No. 28, July 12, 2024
These rules are established to accomplish the general
				  purposes of the Act and the Affordable Housing Act, and in particular the
				  purchasing and making of loans in accordance with the Illinois Housing
				  Development Authority's Affordable Housing Trust Fund Bond Program to achieve
				  the following objectives: the provision of funds to finance, at interest rates
				  below those otherwise available, residential mortgage loans for low and very
				  low income persons and families, and the provision of housing to alleviate the
				  shortage of adequate housing in the State for such persons and families that
				  are residents of the State.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 366 - AFFORDABLE HOUSING BOND PROGRAM - SINGLE FAMILY › Subpart A - GENERAL RULES › Section 366.104 - Borrowing by the Authority

Current through Register Vol. 48, No. 28, July 12, 2024
To the extent allowed by State law, the Act and the
				  Affordable Housing Act, the Authority may borrow funds with which to purchase
				  Loans or incur other obligations under the Program.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 366 - AFFORDABLE HOUSING BOND PROGRAM - SINGLE FAMILY › Subpart A - GENERAL RULES › Section 366.105 - Standards

Current through Register Vol. 48, No. 28, July 12, 2024
In administering the Program, the Authority and the Staff, in
				  those instances permitting the exercise of discretion, shall consider, in
				  addition to the criteria specifically set forth in this Part, the following
				  factors:
a) the purpose of the
				Program;
b) the financial condition
				and previous experience of potential and participating Lenders, Servicers and
				HomeBuilders;
c) the Authority's
				ability to purchase or redeem the Bonds and to comply with the requirements of
				any Resolution;
d) the financial
				integrity of the Program;
e) the
				desirability of achieving a reasonable geographic distribution of Net Proceeds
				throughout the State; and
f) the
				standards of the prudent lender or investor.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 366 - AFFORDABLE HOUSING BOND PROGRAM - SINGLE FAMILY › Subpart A - GENERAL RULES › Section 366.106 - Forms and Procedures for the Program

Current through Register Vol. 48, No. 28, July 12, 2024
The Staff may prepare, use, supplement, and amend such forms,
				  agreements, and other documentation and such procedures as may be necessary to
				  implement the Program, all as may be prescribed by the Director, or, in the
				  Director's absence, the Deputy Director or Assistant
				  Director.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 366 - AFFORDABLE HOUSING BOND PROGRAM - SINGLE FAMILY › Subpart A - GENERAL RULES › Section 366.107 - Fees and Charges of the Authority

Current through Register Vol. 48, No. 28, July 12, 2024
The Authority may establish and collect a Commitment Fee from
				  each HomeBuilder executing a HomeBuilder Participation Agreement in an amount
				  not to exceed three percent (3%) of such HomeBuilder's Reservation. The
				  Authority shall return any Commitment Fee to any HomeBuilder with which it does
				  not enter into a HomeBuilder Participation Agreement.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 366 - AFFORDABLE HOUSING BOND PROGRAM - SINGLE FAMILY › Subpart A - GENERAL RULES › Section 366.108 - Waiver

Current through Register Vol. 48, No. 28, July 12, 2024
By Resolution, the Members may authorize the waiver or
				  variance of particular provisions of this Part to conform to changes in the
				  requirements of applicable State law. Upon the adoption of such a Resolution,
				  the Authority shall submit a rulemaking that reflects such requirements of
				  State law as expeditiously as possible.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 366 - AFFORDABLE HOUSING BOND PROGRAM - SINGLE FAMILY › Subpart A - GENERAL RULES › Section 366.109 - Amendment

Current through Register Vol. 48, No. 28, July 12, 2024
This Part may be supplemented, amended, or repealed by the
				  Members from time to time in accordance with the Illinois Administrative
				  Procedure Act and in such manner as they may determine, consistent with the
				  Rules, the Act, the Affordable Housing Act, the purposes of the Program and
				  other applicable provisions of State law. This Part shall not constitute or
				  create any contractual rights.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 366 - AFFORDABLE HOUSING BOND PROGRAM - SINGLE FAMILY › Subpart A - GENERAL RULES › Section 366.110 - Severability

Current through Register Vol. 48, No. 28, July 12, 2024
If any clause, sentence, paragraph, subsection, Section, or
				  Subpart of this Part shall be adjudged by any court of competent jurisdiction
				  to be invalid, such judgment shall not affect, impair, or invalidate the
				  remainder thereof, but shall be confined in its operation to the clause,
				  sentence, paragraph, subsection, Section, or Subpart to which such judgment is
				  rendered.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 366 - AFFORDABLE HOUSING BOND PROGRAM - SINGLE FAMILY › Subpart A - GENERAL RULES › Section 366.111 - Gender and Number

Current through Register Vol. 48, No. 28, July 12, 2024
All terms used in any one gender or number shall be construed
				  to include any other gender or number as the context may
				  require.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 366 - AFFORDABLE HOUSING BOND PROGRAM - SINGLE FAMILY › Subpart A - GENERAL RULES › Section 366.112 - Titles and Captions

Current through Register Vol. 48, No. 28, July 12, 2024
Titles and captions of Subparts, Sections, and subsections
				  are used for convenience and reference and are not a part of the
				  text.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 366 - AFFORDABLE HOUSING BOND PROGRAM - SINGLE FAMILY › Subpart A - GENERAL RULES › Section 366.113 - Calendar Days

Current through Register Vol. 48, No. 28, July 12, 2024
Days shall mean calendar days. Due dates falling on a
				  Saturday, Sunday or legal State or federal holiday shall be deemed to fall on
				  the next calendar day that is not a Saturday, Sunday, or legal State or federal
				  holiday.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 366 - AFFORDABLE HOUSING BOND PROGRAM - SINGLE FAMILY › Subpart B - APPROVAL OF SINGLE FAMILY PROGRAMS › Section 366.201 - Establishment of Single Family Program

Current through Register Vol. 48, No. 28, July 12, 2024
From time to time, the Authority may establish a Single
				  Family Program. Any such Single Family Program may contain provisions for the
				  purchase of Loans on Qualified Dwellings to be constructed by HomeBuilders
				  selected pursuant to Subpart D of this Part.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 366 - AFFORDABLE HOUSING BOND PROGRAM - SINGLE FAMILY › Subpart B - APPROVAL OF SINGLE FAMILY PROGRAMS › Section 366.202 - Staff Recommendation to the Advisory Commission

Current through Register Vol. 48, No. 28, July 12, 2024
For each proposed Single Family Program, the Staff shall
				  prepare and present to the Advisory Commission a report for the Advisory
				  Commission's recommendation.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 366 - AFFORDABLE HOUSING BOND PROGRAM - SINGLE FAMILY › Subpart B - APPROVAL OF SINGLE FAMILY PROGRAMS › Section 366.203 - Authority Determination

Current through Register Vol. 48, No. 28, July 12, 2024
The Staff shall present to the Members all recommendations
				  from the Advisory Commission for Single Family Programs. The Authority may use
				  the proceeds of Bonds or Notes for the purchase of Loans under a Single Family
				  Program only upon approval of such Single Family Program by Resolution of the
				  Members.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 366 - AFFORDABLE HOUSING BOND PROGRAM - SINGLE FAMILY › Subpart C - LENDER APPLICATION PROCESS › Section 366.301 - Invitations to Sell Loans

Current through Register Vol. 48, No. 28, July 12, 2024
Upon approval of a Single Family Program by the Members, the
				  Authority may send application materials to potential Lenders inviting them to
				  submit to the Authority applications to participate in a Series Program.
				  Lenders wishing to participate in such Series Program shall execute and return
				  to the Authority the following documents: the Lender Application, the Mortgage
				  Purchase Agreement (if not already executed) and the Servicing Agreement (if
				  applicable and if not already executed). In addition, the Lender Application
				  shall contain the following:
a) The
				agreement of the prospective Lender, effective upon acceptance of the Lender
				Application by the Authority, to sell to the Authority Loans that comply with
				the terms of the Lender Application, the Notice of Acceptance and the Mortgage
				Purchase Agreement;
b) The date by
				which the Lender Application must be submitted to the Authority;
c) Provision for the prospective Lender to
				furnish such financial and other information as the Authority may reasonably
				require; and
d) A statement of the
				maximum amount of fees and charges the Lender may charge a prospective Eligible
				Borrower in connection with a Loan.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 366 - AFFORDABLE HOUSING BOND PROGRAM - SINGLE FAMILY › Subpart C - LENDER APPLICATION PROCESS › Section 366.302 - Notice of Acceptance

Current through Register Vol. 48, No. 28, July 12, 2024
The Authority, by Notice of Acceptance, may commit itself,
				  subject to the conditions set forth in the Lender Application and the Mortgage
				  Purchase Agreement, to purchase Loans, as offered by a potential Lender in its
				  Lender Application. Immediately after the Authority has issued its Notice of
				  Acceptance to the Lender, the Authority shall execute a Mortgage Purchase
				  Agreement (if not previously executed) with such Lender. Upon receipt of the
				  Notice of Acceptance, the Lender shall be eligible to originate and sell to the
				  Authority Loans in accordance with the terms of the Lender Application, the
				  Notice of Acceptance and the Mortgage Purchase Agreement. The obligation of the
				  Authority to purchase any Loan shall be subject to the issuance and sale of
				  Bonds by the date set forth in the Lender Application in an amount sufficient
				  to permit such purchase.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 366 - AFFORDABLE HOUSING BOND PROGRAM - SINGLE FAMILY › Subpart C - LENDER APPLICATION PROCESS › Section 366.303 - Commitments for Loans

Current through Register Vol. 48, No. 28, July 12, 2024
Upon the date indicated on the Notice of Acceptance, the
				  Lender may begin to issue commitments to Eligible Borrowers to make Loans. The
				  Lender may continue to issue firm commitments for the period set forth in the
				  Notice of Acceptance. All Loans shall be closed by the date indicated in the
				  Notice of Acceptance.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 366 - AFFORDABLE HOUSING BOND PROGRAM - SINGLE FAMILY › Subpart D - HOMEBUILDER APPLICATION PROCESS › Section 366.401 - HomeBuilder Invitations

Current through Register Vol. 48, No. 28, July 12, 2024
Upon approval by the Members of a Single Family Program
				  containing provisions for the purchase of Loans on Qualified Dwellings to be
				  constructed by HomeBuilders, the Authority may send application materials to
				  potential HomeBuilders inviting them to submit to the Authority requests to
				  participate in a Series Program. Such requests shall state the amount of the
				  HomeBuilder's requested Reservation. HomeBuilders wishing to participate in
				  such Series Program shall execute and return to the Authority the HomeBuilder
				  Participation Agreement. The HomeBuilder Participation Agreement shall contain
				  among other things, the following:
a)
				The unconditional agreement of the prospective HomeBuilder, effective upon
				execution of the HomeBuilder Participation Agreement by the Authority, to
				construct Qualified Dwellings for sale to Eligible Borrowers that comply with
				the terms of the Notice of Reservation of Funds and the HomeBuilder
				Participation Agreement;
b)
				Provision for the prospective HomeBuilder to provide such information about the
				HomeBuilder's construction activities during the period of 24 months prior to
				the date of the HomeBuilder Participation Agreement and such other information
				as the Authority may reasonably require; and
c) A statement of the amount of any required
				Commitment Fee.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 366 - AFFORDABLE HOUSING BOND PROGRAM - SINGLE FAMILY › Subpart D - HOMEBUILDER APPLICATION PROCESS › Section 366.402 - Reservation of Funds for Construction of Qualified Dwellings

Current through Register Vol. 48, No. 28, July 12, 2024
The Authority may make Reservations for prospective
				  HomeBuilders from which the Authority has received timely HomeBuilder
				  Participation Agreements and Commitment Fees (if required). In making such
				  Reservations, the Authority shall consider with respect to each such
				  prospective HomeBuilder the number of residential homes and other structures
				  constructed by the HomeBuilder in the State within the 24 month period prior to
				  the date of its HomeBuilder Participation Agreement; the Reservations requested
				  by all prospective HomeBuilders for the Series Program; and the participation
				  of the HomeBuilder in the Authority's previous Series Programs. Reservations
				  shall be conclusive, subject to the adjustments permitted in Section
				  366.405
				  of this Part.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 366 - AFFORDABLE HOUSING BOND PROGRAM - SINGLE FAMILY › Subpart D - HOMEBUILDER APPLICATION PROCESS › Section 366.403 - Notice of Reservation of Funds

Current through Register Vol. 48, No. 28, July 12, 2024
The Authority may commit itself by Notice of Reservation of
				  Funds, subject to the terms and conditions set forth in the HomeBuilder
				  Participation Agreement, to make a Reservation for a prospective HomeBuilder
				  for the construction of Qualified Dwellings for Eligible Borrowers under a
				  Series Program. Contemporaneously with the issuance of the Notice of
				  Reservation of Funds to the HomeBuilder, the Authority shall execute the
				  HomeBuilder Participation Agreement with that HomeBuilder. The amount of the
				  Reservation for the HomeBuilder shall not exceed, and may be less than, such
				  HomeBuilder's requested Reservation. Upon receipt of the Notice of Reservation
				  of Funds, the HomeBuilder shall be obligated to construct Qualified Dwellings
				  in accordance with the terms of the HomeBuilder Participation Agreement. The
				  Reservation to the HomeBuilder shall be subject to the issuance and sale of
				  Bonds by the date set forth in the HomeBuilder Participation Agreement in an
				  amount sufficient to permit such Reservation.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 366 - AFFORDABLE HOUSING BOND PROGRAM - SINGLE FAMILY › Subpart D - HOMEBUILDER APPLICATION PROCESS › Section 366.404 - Real Estate Purchase Contracts

Current through Register Vol. 48, No. 28, July 12, 2024
Upon receipt of the Notice of Reservation of Funds, the
				  HomeBuilder shall construct Qualified Dwellings for sale to Eligible Borrowers.
				  The HomeBuilder shall enter into standard residential purchase contracts with
				  prospective Eligible Borrowers and refer such Eligible Borrowers to Lenders
				  participating in the Series Program to obtain Loans in connection with the
				  purchase of Qualified Dwellings. All Qualified Dwellings shall be constructed
				  and sold to Eligible Borrowers by the date indicated in the HomeBuilder
				  Participation Agreement.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 366 - AFFORDABLE HOUSING BOND PROGRAM - SINGLE FAMILY › Subpart D - HOMEBUILDER APPLICATION PROCESS › Section 366.405 - Transfer of Reserved Funds

Current through Register Vol. 48, No. 28, July 12, 2024
If a HomeBuilder fails or is unable to construct and sell
				  Qualified Dwellings in the amount of its Reservation on the terms and
				  conditions, and within the time period, set forth in the HomeBuilder
				  Participation Agreement, the Authority may, at the request of the HomeBuilder,
				  reallocate all or a part of the unused portion of the HomeBuilder's Reservation
				  to other HomeBuilders or to other projects within the Series Program in which
				  the HomeBuilder is participating; redeem all or part of the Bonds issued with
				  respect to such unused portion of the Reservation, but only if permitted by the
				  Series Resolution authorizing the issuance of the Bonds; or undertake a
				  combination of the above.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 366 - AFFORDABLE HOUSING BOND PROGRAM - SINGLE FAMILY › Subpart E - PURCHASE OF LOANS › Section 366.501 - Loans

Current through Register Vol. 48, No. 28, July 12, 2024
Each Loan to be purchased under the Program shall comply with
				  the terms of the Lender Application, the HomeBuilder Participation Agreement
				  (if applicable), the Notice of Acceptance, and the Mortgage Purchase Agreement
				  and shall specifically comply with the following requirements:
a) The original principal amount of each
				Loan, unless such Loan is the subject of insurance or guaranty by the FHA, RECD
				or the USVA, shall not exceed 97% of the Property Value. If such Loan is the
				subject of insurance or guaranty by the FHA, RECD or USVA, the principal amount
				of the Loan shall not exceed the amount approved by such agency. Each Loan that
				has a Loan-to-Property Value ratio in excess of 80% at the time of origination
				shall:
1) be insured by a private mortgage
				insurer licensed to do business in the State and qualified to insure single
				family mortgages purchased by the FHLMC or successor federal agency to the
				extent, if any, required, so that the uninsured portion of such Loan shall not
				exceed 72% of the Property Value; or
2) be subject to insurance or guaranty by the
				FHA or USVA or any other agency or instrumentality of the United States of
				America having similar powers to insure or guarantee mortgage loans.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 366 - AFFORDABLE HOUSING BOND PROGRAM - SINGLE FAMILY › Subpart E - PURCHASE OF LOANS › Section 366.503 - Mortgage Pool Insurance

Current through Register Vol. 48, No. 28, July 12, 2024
If required by the applicable Series Resolution, the
				  Authority shall obtain Pool Insurance for each Series Program in an amount not
				  less than that percentage of the original aggregate principal amount of the
				  Loans authorized by such Series Resolution. Such Pool Insurance shall insure
				  the Authority against losses arising from an event of default under any Loan
				  covered by the policy in an amount equal to the unpaid principal balance of,
				  and accrued interest on, the Loan and customary fees and expenses paid by the
				  Authority to preserve and protect the mortgaged premises and to foreclose or
				  otherwise dispose of such premises, such as real estate taxes, hazard and
				  private insurance premiums and foreclosure expenses, less the amount received
				  by the Authority under any other insurance policy on the Loan or from
				  disposition of such premises or substantially similar
				  benefits.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 366 - AFFORDABLE HOUSING BOND PROGRAM - SINGLE FAMILY › Subpart E - PURCHASE OF LOANS › Section 366.504 - Special Hazard Insurance

Current through Register Vol. 48, No. 28, July 12, 2024
If required by the applicable Series Resolution, the
				  Authority shall obtain Special Hazard Insurance for such Series Program in the
				  amount required by such Series Resolution.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 366 - AFFORDABLE HOUSING BOND PROGRAM - SINGLE FAMILY › Subpart F - ADMINISTRATIVE RULES › Section 366.601 - Servicing of Loans

Current through Register Vol. 48, No. 28, July 12, 2024
The Authority shall cause all Loans purchased by the
				  Authority to be serviced by a Servicer pursuant to the Servicing
				  Agreement.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 366 - AFFORDABLE HOUSING BOND PROGRAM - SINGLE FAMILY › Subpart F - ADMINISTRATIVE RULES › Section 366.602 - Equal Opportunity Lending

Current through Register Vol. 48, No. 28, July 12, 2024
In making Loans, the Lender shall not deny such Loans to any
				  person or persons or discriminate against such person or persons in fixing the
				  amount, interest rate, duration, or other terms and conditions of such Loans on
				  account of race, color, religion, age, sex, marital status, familial status,
				  handicap, ancestry, national origin, or unfavorable military discharge; and
				  shall otherwise be subject to all State and federal requirements with respect
				  to non-discrimination in lending.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 366 - AFFORDABLE HOUSING BOND PROGRAM - SINGLE FAMILY › Subpart F - ADMINISTRATIVE RULES › Section 366.603 - Inspection of Books and Records

Current through Register Vol. 48, No. 28, July 12, 2024
Upon prior written notice, the Authority may inspect,
				  examine, and copy the books and records of each Lender for the purpose of
				  determining compliance with the Authority's Rules, the Act, the Affordable
				  Housing Act and all contracts and agreements between the Authority and such
				  Lender relating to the Program.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 366 - AFFORDABLE HOUSING BOND PROGRAM - SINGLE FAMILY › Subpart F - ADMINISTRATIVE RULES › Section 366.604 - Termination

Current through Register Vol. 48, No. 28, July 12, 2024
The Authority shall retain the right to establish procedures
				  for the termination of its obligation to purchase Loans associated with any
				  particular issue of Bonds under the Program, subject to applicable State law
				  and to its existing contractual obligations, including contractual obligations
				  arising under a HomeBuilder Participation Agreement, a Lender Application, a
				  Notice of Acceptance, a Mortgage Purchase Agreement and a Servicing
				  Agreement.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 368 - ACCESSIBLE HOUSING DEMONSTRATION GRANT PROGRAM › Subpart A - GENERAL RULES › Section 368.101 - Authority

Current through Register Vol. 48, No. 28, July 12, 2024
This Part is authorized by and made pursuant to the
				  Accessible Housing Demonstration Grant Program Act [310 ILCS 95 ], which shall
				  govern the Program.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 368 - ACCESSIBLE HOUSING DEMONSTRATION GRANT PROGRAM › Subpart A - GENERAL RULES › Section 368.102 - Purposes and Objectives

Current through Register Vol. 48, No. 28, July 12, 2024
This Part is established to accomplish the purposes of the
				  Accessible Housing Demonstration Grant Program Act and in particular to make
				  grants to Qualified Builders to encourage the building of Single Family
				  Residences that are accessible to the disabled.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 368 - ACCESSIBLE HOUSING DEMONSTRATION GRANT PROGRAM › Subpart A - GENERAL RULES › Section 368.104 - Standards and Criteria

Current through Register Vol. 48, No. 28, July 12, 2024
In considering applications for Grants, the Authority and the
				  Staff shall, in the exercise of discretion, consider, in addition to the
				  requirements of Section
				  368.203:
a) The size, number and type of the proposed
				Spec Homes;
b) The location of the
				Spec Homes;
c) The projected
				completion dates of the Spec Homes;
d) The experience of the Applicant;
e) The amount of the Grant requested;
				and
f) The per unit cost
				differential for meeting each of the Accessibility Standards.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 368 - ACCESSIBLE HOUSING DEMONSTRATION GRANT PROGRAM › Subpart A - GENERAL RULES › Section 368.105 - Forms and Procedures for the Program

Current through Register Vol. 48, No. 28, July 12, 2024
The Staff may prepare, use, supplement, and amend such forms,
				  agreements, and other documents and such procedures as may be necessary to
				  implement the Program, all as may be prescribed by the Executive
				  Director.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 368 - ACCESSIBLE HOUSING DEMONSTRATION GRANT PROGRAM › Subpart A - GENERAL RULES › Section 368.106 - Amendment

Current through Register Vol. 48, No. 28, July 12, 2024
This Part may be supplemented, amended, or repealed by the
				  Authority from time to time and in such manner as they may determine consistent
				  with this Part, the Act, the Accessible Housing Demonstration Grant Program
				  Act, the Illinois Administrative Procedure Act and other applicable provisions
				  of law. This Part shall not constitute or create any contractual
				  rights.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 368 - ACCESSIBLE HOUSING DEMONSTRATION GRANT PROGRAM › Subpart A - GENERAL RULES › Section 368.107 - Severability

Current through Register Vol. 48, No. 28, July 12, 2024
If any clause, sentence, paragraph, subsection, Section, or
				  Subpart of this Part is adjudged by any court of competent jurisdiction to be
				  invalid, such judgment shall not affect, impair, or invalidate the remainder of
				  this Part, but shall be confined in its operation to the clause, sentence,
				  paragraph, subsection, Section, or Subpart as to which such judgment is
				  rendered.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 368 - ACCESSIBLE HOUSING DEMONSTRATION GRANT PROGRAM › Subpart A - GENERAL RULES › Section 368.108 - Gender and Number

Current through Register Vol. 48, No. 28, July 12, 2024
All terms used in any one gender or number shall be construed
				  to include any other gender or number as the context may
				  require.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 368 - ACCESSIBLE HOUSING DEMONSTRATION GRANT PROGRAM › Subpart A - GENERAL RULES › Section 368.109 - Titles and Captions

Current through Register Vol. 48, No. 28, July 12, 2024
Titles and captions or Subparts, Sections, and subsections
				  are used for convenience and reference and are not a part of the
				  text.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 368 - ACCESSIBLE HOUSING DEMONSTRATION GRANT PROGRAM › Subpart B - APPLICATION › Section 368.201 - Forms

Current through Register Vol. 48, No. 28, July 12, 2024
The Authority shall develop an Application Form, a Grant
				  Agreement, and any other forms that it may deem necessary for the conduct of
				  the Program.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 368 - ACCESSIBLE HOUSING DEMONSTRATION GRANT PROGRAM › Subpart B - APPLICATION › Section 368.203 - Accompanying Documentation

Current through Register Vol. 48, No. 28, July 12, 2024
For each Spec Home that an Applicant proposes to construct
				  under the Program, the Applicant shall include:
a) an Architect's Initial Certificate;
				and
b) a Building Permit, if
				required by the jurisdiction in which the Spec Home is to be
				constructed.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 368 - ACCESSIBLE HOUSING DEMONSTRATION GRANT PROGRAM › Subpart B - APPLICATION › Section 368.204 - Review

Current through Register Vol. 48, No. 28, July 12, 2024
Within 10 business days after the receipt of an Application,
				  the Staff shall determine whether such Application meets the eligibility
				  requirements of Sections
				  368.104
				  and
				  368.203.
				  If the Staff determines that the Application meets such requirements, it shall
				  notify the Applicant within five business days after such determination. If the
				  Staff determines that the Application fails to meet any of these requirements,
				  the Authority shall notify the Applicant in writing within 10 business days
				  after such determination; the Applicant shall have 10 business days to correct
				  any deficiencies in its Application.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 368 - ACCESSIBLE HOUSING DEMONSTRATION GRANT PROGRAM › Subpart B - APPLICATION › Section 368.205 - Grant Agreement

Current through Register Vol. 48, No. 28, July 12, 2024
Upon the approval of an Application, the Authority and the
				  Applicant shall enter into a Grant Agreement. Upon entering the agreement, the
				  Qualified Builder will have up to one year to complete the construction of the
				  Spec Home.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 368 - ACCESSIBLE HOUSING DEMONSTRATION GRANT PROGRAM › Subpart B - APPLICATION › Section 368.206 - Monitoring of Program by the Authority

Current through Register Vol. 48, No. 28, July 12, 2024
Upon reasonable notice, the Qualified Builder shall allow the
				  Authority to inspect the Spec Homes until one year after the date of the Grant
				  Agreement.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 368 - ACCESSIBLE HOUSING DEMONSTRATION GRANT PROGRAM › Subpart C - DISBURSEMENT OF GRANT PROCEEDS › Section 368.301 - Application for Disbursement of Grant Proceeds

Current through Register Vol. 48, No. 28, July 12, 2024
Upon the completion of a Spec Home, the Qualified Builder
				  shall submit a Request for Disbursement to the Authority. Such request shall
				  include an Architect's Final Certificate and, if required by the jurisdiction
				  in which the Spec Home has been constructed, a certificate of occupancy from
				  that jurisdiction.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 368 - ACCESSIBLE HOUSING DEMONSTRATION GRANT PROGRAM › Subpart C - DISBURSEMENT OF GRANT PROCEEDS › Section 368.302 - Review

Current through Register Vol. 48, No. 28, July 12, 2024
Within 10 business days after the receipt of a Request for
				  Disbursement, the Staff shall determine whether such request meets the
				  requirements of Section
				  368.301.
				  If such requirements have been met, the Authority shall disburse Grant proceeds
				  in the requested amount to the Qualified Builder within 45 days after receipt
				  of the Final Certification Affidavit. If the Staff determines that the Request
				  for Disbursement does not meet such requirements, the Authority shall notify
				  the Qualified Builder in writing within 10 business days, stating the reasons
				  why the Request for Disbursement was denied; the Qualified Builder shall have
				  10 business days to correct any deficiencies in its Request for
				  Disbursement.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 369 - COVID-19 AFFORDABLE HOUSING GRANT PROGRAM › Subpart A - GENERAL RULES › Section 369.101 - Purpose and Objectives

Current through Register Vol. 48, No. 28, July 12, 2024
The Rules in this Part are established to accomplish the
				  general purposes of the Act, and in particular the making of grants in
				  connection with the construction or rehabilitation of qualified multifamily
				  rental housing developments in accordance with the Program that receive LIHTC
				  allocations from the Authority. The grant funds will help developers to
				  overcome increased construction costs related to the COVID-19 pandemic-created
				  supply shortages (in lumber and other materials) and to jump-start a housing
				  recovery in the State in the wake of the pandemic. These funds will also
				  incentivize and attract private equity and private lending and will allow the
				  State to more fully use and draw down unused federal resources for affordable
				  housing.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 369 - COVID-19 AFFORDABLE HOUSING GRANT PROGRAM › Subpart A - GENERAL RULES › Section 369.103 - Compliance with Federal Law

Current through Register Vol. 48, No. 28, July 12, 2024
Notwithstanding anything herein to the contrary, this Part
				  shall be construed in conformity and compliance with applicable federal law,
				  including, without limitation, Section 42 of the Code.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 369 - COVID-19 AFFORDABLE HOUSING GRANT PROGRAM › Subpart A - GENERAL RULES › Section 369.104 - Standards

Current through Register Vol. 48, No. 28, July 12, 2024
In administering the Program, the Authority, the Chairman,
				  the Director, and the Staff shall consider, in addition to the criteria
				  specifically set forth in this Part (particularly in Subparts B and C), the
				  following: the purposes of the Program to provide decent, safe, and sanitary
				  multifamily rental housing; the requirements of applicable State and federal
				  law; the financial condition and previous experience of potential and
				  participating developers; the financial integrity of the Program; the housing
				  needs of the State; the desirability of achieving a reasonable geographic
				  distribution of Qualified Developments throughout the State; and specific
				  standards for the LIHTC program set forth in the QAP and the references
				  embedded therein (found at
https://www.ihda.org/developers/qap/
).
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 369 - COVID-19 AFFORDABLE HOUSING GRANT PROGRAM › Subpart A - GENERAL RULES › Section 369.105 - Procedures, Fees and Charges

Current through Register Vol. 48, No. 28, July 12, 2024
In connection with the Program, the Authority will establish
				  forms, agreements, documents and procedures that may be used by the Authority
				  for its general corporate purposes, including costs of administering the
				  Program, to the extent permitted under and as contemplated by the Affordable
				  Housing Grant Act and any enacting rules and regulations. The Authority intends
				  to functionally administer the Grants together with the administration and
				  compliance requirements for any LIHTC Allocation by the Authority. LIHTC
				  requirements can be found in 47 Ill. Adm. Code 350.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 369 - COVID-19 AFFORDABLE HOUSING GRANT PROGRAM › Subpart A - GENERAL RULES › Section 369.106 - Amendment

Current through Register Vol. 48, No. 28, July 12, 2024
This Part may be supplemented, amended or repealed in
				  accordance with the Illinois Administrative Procedure Act [5 ILCS 100 ], by the
				  Members from time to time and in such manner as they may determine consistent
				  with the Rules, the Act and other applicable provisions of law. This Part shall
				  not constitute or create any contractual rights.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 369 - COVID-19 AFFORDABLE HOUSING GRANT PROGRAM › Subpart A - GENERAL RULES › Section 369.107 - Severability

Current through Register Vol. 48, No. 28, July 12, 2024
If any clause, sentence, paragraph, subsection, Section, or
				  Subpart of this Part be adjudged by any court of competent jurisdiction to be
				  invalid, such judgment shall not affect, impair or invalidate the remainder
				  thereof, but shall be confined in its operation to the clause, sentence,
				  paragraph, subsection, Section or Subpart thereof as to which such judgement is
				  rendered.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 369 - COVID-19 AFFORDABLE HOUSING GRANT PROGRAM › Subpart B - APPLICATION PROCESS › Section 369.201 - Applications

Current through Register Vol. 48, No. 28, July 12, 2024
a) Eligibility. An
				Owner of a Qualified Development is eligible to apply for a Grant only if it
				has received or is simultaneously receiving an Allocation.
b) Process. An Owner of a Qualified
				Development may submit an application for a Grant as part of its application
				for a 9% LIHTC competitive Allocation or a 4% LIHTC rolling Allocation. In the
				application, the Owner must include the reason for its application and
				certification (in form and content prescribed by the Authority) that the
				Qualified Development is eligible for a Grant under the provisions of the
				Affordable Housing Grant Act due to a funding gap in its financing structure.
				Authority Staff shall consider each application in terms of the certified
				eligibility criteria as evidenced by a certification submitted by an Owner
				attesting to the applicable Prioritization Areas creating a need for a Grant
				and the need to make a Qualified Development financially feasible (as set out
				more specifically in Subpart C). In the event that a funding gap is not
				identified at the time of LIHTC Allocation, an Owner may make an application
				after Allocation, under the same terms and subject to the same review as
				applications received as part of the Owner's original Allocation
				application.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 369 - COVID-19 AFFORDABLE HOUSING GRANT PROGRAM › Subpart C - GRANTS › Section 369.301 - Maximum Grant Amount

Current through Register Vol. 48, No. 28, July 12, 2024
a)
				Establishing Amount. The maximum grant amount available for any Qualified
				Development shall be 35% of Total Development Costs.
b) Grant Increase. After the Authority has
				made a Grant for a Qualified Development, nothing contained in this Section
				shall prohibit the Authority from increasing the amount of the Grant in excess
				of the limitations specified in subsection (a) if the owner applies for
				additional funds and the Authority, in its sole discretion, determines that the
				increase is necessary to maintain the financial stability or economic viability
				of the Qualified Development. In deciding whether to approve a Grant increase,
				the Authority shall consider, among other things, increases in construction
				costs before or during construction/rehabilitation, the physical condition of
				the Qualified Development, the value of the Qualified Development, the
				financial status of the Qualified Development, and any other relevant factors
				under the Affordable Housing Grant Act.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 369 - COVID-19 AFFORDABLE HOUSING GRANT PROGRAM › Subpart C - GRANTS › Section 369.302 - Prioritization Efforts

Current through Register Vol. 48, No. 28, July 12, 2024
a)
The Authority shall make best efforts to prioritize applications for
				proposed Qualified Developments as follows:
1)
developments that are located
				within a census tract that was disproportionately affected by the COVID-19
				pandemic based on the number of positive COVID-19 cases;
2)
developments
during
				construction
involving contracts with certified disadvantaged business
				enterprises and certified underrepresented business enterprises owned by
				minorities, women, veterans,
LGBTQIA
persons, and persons with
				disabilities;
3)
developments involving project labor agreements with local building
				trades; and
4)
developments involving contracts or subcontracts with a registered
				apprenticeship program or pre-apprenticeship program.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 369 - COVID-19 AFFORDABLE HOUSING GRANT PROGRAM › Subpart C - GRANTS › Section 369.303 - Regulatory Agreement Required

Current through Register Vol. 48, No. 28, July 12, 2024
The Owner of a Qualified Development that receives a Grant
				  shall enter into a Regulatory Agreement with the Authority. Because eligibility
				  for grants is dependent on LIHTC eligibility, the owner of a Qualified
				  development will be required to adhere to all affordable housing restrictions
				  applicable to the LIHTC allocation for the Qualified Development (and described
				  in the Authority's QAP at
https://www.ihda.org/developers/qap/
)
				  for a period equal to the Compliance Period, and to agree not to transfer the
				  ownership or materially change the ownership structure of the Owner without the
				  prior written approval of the Authority. The Regulatory Agreement shall be
				  recorded in the office of the recorder of deeds in the county where the
				  Qualified Development is located as a restrictive covenant on the Qualified
				  Development.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 369 - COVID-19 AFFORDABLE HOUSING GRANT PROGRAM › Subpart C - GRANTS › Section 369.304 - Related Requirements

Current through Register Vol. 48, No. 28, July 12, 2024
Any award of a Grant shall be subject to the Related
				  Requirements and any applicable requirements of the Act; which include:
a) Restrictions:
1) Income-eligible households: Maximum AMI of
				50% or 60%, or Average AMI of 60% with range between 20% and 80%, as owner
				elects.
2) Affordable rents: 30% of
				target income.
3) Target
				population: Must be available to general public; restrictions on full-time
				students, but no citizenship requirement.
4) Leasing requirements: Not to be used for
				temporary housing; lease must be for at least 6 months.
5) Physical condition: Must be maintained to
				HUD's Uniform Physical Condition Standards (24 CFR 5 (2022))
6) Annual income recertification required:
				Not for 100% affordable projects; mixed income projects only.
7) Fixed or floating units: Floating units
				must maintain applicable percentage as measured by unit or square
				footage.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 371 - NATIONAL AFFORDABLE HOUSING ACT (HOME) PROGRAM › Section 371.10 - Statement of Authority

Current through Register Vol. 48, No. 28, July 12, 2024
The Illinois Housing Development Authority (Authority) has been
				designated the program administrator of the HOME Investment Partnerships
				Program (HOME Program) in Illinois, established pursuant to Title II of the
				National Affordable Housing Act of 1990,
				42 U.S.C.
				12701 et seq., as amended (HOME Act). This
				Part is created to govern the HOME Program. This Part is authorized by, and
				made pursuant to, the Comprehensive Housing Affordability Strategy of the State
				of Illinois and the Illinois Housing Development Act [20 ILCS 3805
				].
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 371 - NATIONAL AFFORDABLE HOUSING ACT (HOME) PROGRAM › Section 371.20 - Incorporation By Reference

Current through Register Vol. 48, No. 28, July 12, 2024
The federal regulations promulgated under the HOME Act, 24 CFR
				Part 92 (HOME Regulations) (October 16, 1996) are hereby incorporated by
				reference. The full text of the HOME Regulations can be obtained from the
				Department of Housing and Urban Development, 451 7th St., SW, Washington, DC
				20410.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 371 - NATIONAL AFFORDABLE HOUSING ACT (HOME) PROGRAM › Section 371.30 - Definitions

Current through Register Vol. 48, No. 28, July 12, 2024
"Applicant": A person or entity applying for an allocation of
				funds from the Program.
"Authority": The Illinois Housing Development Authority.
"Clearinghouse": A State, regional or metropolitan agency
				designated by the Governor or the Authority, or established by State law, to
				review and provide notice to appropriate State and local agencies of proposed
				housing projects.
"Federal HOME Act": Title II of the National Affordable Housing
				Act of 1990 ( P.L.
				101-165 ).
"Governor": The Governor of Illinois.
"Members": The Members of the Authority.
"Part": This Part 371.
"Program": The program established by the State pursuant to the
				Federal HOME Act and administered by the Authority in accordance with the
				provisions of this Part through which Federal HOME Program funds allocated to
				the State will be reallocated to eligible Recipients.
"Project": Site or sites, together with any building (including
				a manufactured housing unit), or buildings located on the sites(s) that are
				under common ownership, management, and financing and are to be assisted with
				Program funds as a single undertaking under this Part. Project includes all the
				activities associated with the site and building. For tenant-based rental
				assistance, Project means assistance to one or more families.
"Recipient": An individual or entity that receives Program
				funds for or on behalf of a Project from the Authority pursuant to a
				Commitment.
"State": The State of Illinois.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 371 - NATIONAL AFFORDABLE HOUSING ACT (HOME) PROGRAM › Section 371.40 - Notification by Authority

Current through Register Vol. 48, No. 28, July 12, 2024
a)
			 Notice of Allocation. Prior to the presentation of an application to the
			 Members, the Authority shall give written notice of the proposed allocation of
			 Program funds to the following persons and agencies:
1) The chairman of the county board of the
			 county in which the Project is proposed to be located;
2) The mayor or other chief executive of the
			 municipality in which the Project is proposed to be located;
3) In municipalities with a population of
			 more than
			 1.5 million, the alderman
			 of the ward in which the Project is proposed to be located;
4) Appropriate Clearinghouses;
5) The United States Department of Housing
			 and Urban Development;
6) Rural
			 Housing Service, an agency within the United States Department of Agriculture;
			 and
7) Each member of the General
			 Assembly from the legislative district in which the Project is proposed to be
			 located.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 371 - NATIONAL AFFORDABLE HOUSING ACT (HOME) PROGRAM › Section 371.50 - Comments and Responses

Current through Register Vol. 48, No. 28, July 12, 2024
a)
			 Comments. The persons and agencies receiving notice pursuant to this Section
			 shall have 30 days from the date of mailing to submit written comments to the
			 Authority and the Applicant.
b)
			 Applicant's Response. The Applicant shall respond in writing to all comments
			 received under Section
			 371.40
			 of this Part, as well as to any other written comments received by the
			 Applicant, and shall provide copies of all comments and responses to the
			 Authority.
c) Consideration of
			 Comments. The Members shall consider all comments received pursuant to Section
			 371.40
			 of this Part when making their determination.