reglab/statecodes huggingface dataset:
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 355 - ILLINOIS AFFORDABLE HOUSING TAX CREDIT PROGRAM › Subpart D - PROJECTS › Section 355.401 - Single Family Project Requirements

Current through Register Vol. 48, No. 28, July 12, 2024
An Agency may make Allocations for Single Family Projects. In
				  each Single Family Project, other than Employer Assisted Housing Projects, all
				  of the units or Single Family Residences shall be sold or rented to Low-Income
				  Households.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 355 - ILLINOIS AFFORDABLE HOUSING TAX CREDIT PROGRAM › Subpart D - PROJECTS › Section 355.403 - Employer-Assisted Housing Projects

Current through Register Vol. 48, No. 28, July 12, 2024
An Agency may make Allocations for Employer-Assisted Housing
				  Projects. $2,000,000 of the Affordable Housing Tax Credit Ceiling for a State
				  fiscal year shall be reserved for Employer-Assisted Housing Projects. Of this
				  ceiling, 24.5 % shall be available for allocation by the City of Chicago and
				  75.5 % shall be
				  available for allocation by the Authority. If those funds are not reserved for
				  Employer-Assisted Housing Projects by March 31 of that State fiscal year, the
				  funds shall be available for Reservation and Allocation for Affordable Housing
				  Projects, Technical Assistance or General Operating Support.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 355 - ILLINOIS AFFORDABLE HOUSING TAX CREDIT PROGRAM › Subpart D - PROJECTS › Section 355.404 - Recapture Agreement

Current through Register Vol. 48, No. 28, July 12, 2024
Each Household receiving assistance or a subsidy under a
				  Single Family Project or Employer-Assisted Housing Project in connection with
				  the purchase of a Single Family Residence shall execute a Recapture Agreement
				  for the benefit of the Sponsor. The Recapture Agreement shall be recorded in
				  the Office of the Recorder of Deeds in the county in which the Single Family
				  Residence is located as a restrictive covenant on the Single Family Residence.
				  The Recapture Agreement shall provide that, if the Single Family Residence is
				  transferred during the term of the Compliance Period, other than by will,
				  inheritance or a transfer by law to a joint tenant owner, the Household shall
				  repay to the Sponsor a pro-rated portion of any funds provided as a grant or
				  subsidy toward the purchase of the Single Family Residence. In cases of
				  hardship to a Very Low-Income, Low-Income or, for Employer-Assisted Housing
				  Projects, Moderate-Income Household, such as serious illness or loss of
				  employment, an Agency may reduce the Compliance Period.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 355 - ILLINOIS AFFORDABLE HOUSING TAX CREDIT PROGRAM › Subpart D - PROJECTS › Section 355.405 - Multifamily Housing Projects

Current through Register Vol. 48, No. 28, July 12, 2024
An Agency may make Allocations for Multifamily Housing
				  Projects that involve the construction or rehabilitation of multifamily rental
				  housing buildings.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 355 - ILLINOIS AFFORDABLE HOUSING TAX CREDIT PROGRAM › Subpart D - PROJECTS › Section 355.406 - Set-Aside for Technical Assistance and General Operating Support

Current through Register Vol. 48, No. 28, July 12, 2024
$1,000,000 of the Affordable Housing Tax Credit Ceiling for a
				  State fiscal year shall be reserved for Technical Assistance and General
				  Operating Support. Of this ceiling, 24.5 % shall be available for allocation by
				  the City of Chicago and
				  75.5 % shall be
				  available for allocation by the Authority. If these funds are not reserved for
				  Technical Assistance or General Operating Support by March 31 of that State
				  fiscal year, the funds shall be available for Reservation and Allocation for
				  any type of Affordable Housing Projects or Employer-Assisted Housing
				  Projects.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 355 - ILLINOIS AFFORDABLE HOUSING TAX CREDIT PROGRAM › Subpart D - PROJECTS › Section 355.407 - Limitations on Amount of Technical Assistance and General Operating Support

Current through Register Vol. 48, No. 28, July 12, 2024
No Affordable Housing Project shall receive Affordable
				  Housing Tax Credits for Technical Assistance and General Operating Support for
				  the Sponsor of the Affordable Housing Project in an amount greater than 10% of
				  the Allocation for the Affordable Housing Project.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 355 - ILLINOIS AFFORDABLE HOUSING TAX CREDIT PROGRAM › Subpart D - PROJECTS › Section 355.408 - Technical Assistance - Home Ownership Counseling

Current through Register Vol. 48, No. 28, July 12, 2024
An Agency may allocate Affordable Housing Tax Credits for
				  Technical Assistance for Donations to entities that provide home ownership
				  counseling services. The Allocations may be in connection with the purchase of
				  a Single Family Residence or an Employer-Assisted Housing Project; however, all
				  Allocations for Technical Assistance in connection with a particular Affordable
				  Housing Project shall be pursuant to Section
				  355.407
				  of this Part. All such home ownership counseling services shall be provided to
				  Households that qualify as Low-Income Households or, in the case of
				  Employer-Assisted Housing Projects, Moderate-Income Households as of the date
				  of the provision of the services.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 355 - ILLINOIS AFFORDABLE HOUSING TAX CREDIT PROGRAM › Subpart E - COMPLIANCE MONITORING › Section 355.502 - Monitoring Fees

Current through Register Vol. 48, No. 28, July 12, 2024
An Agency may assess an annual fee for compliance monitoring
				  of Projects. If an Agency decides to charge such a fee, the amount of such fee
				  shall be established on July 1 of the year in which such decision is made. An
				  Agency may redetermine the amount of its compliance monitoring fee as of each
				  July 1. The Agency shall determine the amount of the fee, or the amount of the
				  redetermined fee, based on the cost to the Agency of compliance monitoring of
				  Projects for the previous State fiscal year.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 355 - ILLINOIS AFFORDABLE HOUSING TAX CREDIT PROGRAM › Subpart E - COMPLIANCE MONITORING › Section 355.503 - Books and Records

Current through Register Vol. 48, No. 28, July 12, 2024
The books and records of each Sponsor and each Project shall
				  be subject to inspection, examination and copying by the allocating Agency and
				  its authorized representatives or agents at such times as the allocating Agency
				  reasonably requires for the purpose of determining whether the Sponsor and the
				  Project are in compliance with Section 7.28 and this Part.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 355 - ILLINOIS AFFORDABLE HOUSING TAX CREDIT PROGRAM › Subpart E - COMPLIANCE MONITORING › Section 355.504 - Furnishing Information

Current through Register Vol. 48, No. 28, July 12, 2024
Each Sponsor shall furnish such information and operating
				  reports as the allocating Agency shall require in connection with the
				  monitoring of the Sponsor and the Sponsor's Project for compliance with Section
				  7.28 and this Part.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 355 - ILLINOIS AFFORDABLE HOUSING TAX CREDIT PROGRAM › Subpart F - REPORTS › Section 355.601 - Agency Reports

Current through Register Vol. 48, No. 28, July 12, 2024
Each Agency shall submit quarterly reports to the Authority
				  setting forth the Agency's activities under the Program for that quarter. The
				  report shall include the following information:
a) the amount of Affordable Housing Tax
				Credits reserved or allocated since the date of the last report;
b) the name and address of each
				Sponsor;
c) For each Affordable
				Housing Project:
1) the amount of Affordable
				Housing Tax Credits reserved or allocated;
2) the total number of Units or Single Family
				Residences in the Affordable Housing Project;
3) the number of Units or Single Family
				Residences to be occupied by Low-Income and Very Low-Income
				Households;
4) the type of
				Households to be served (such as elderly or special needs); and
5) for Multifamily Housing Projects, the
				number of bedrooms in each Unit;
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 360 - AFFORDABLE HOUSING PROGRAM › Subpart A - GENERAL RULES › Section 360.101 - Authority

Current through Register Vol. 48, No. 28, July 12, 2024
This Part is authorized by and made pursuant to the Illinois
				  Affordable Housing Act [310 ILCS 65 ] and shall govern the
				  Program.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 360 - AFFORDABLE HOUSING PROGRAM › Subpart A - GENERAL RULES › Section 360.102 - Purpose and Objectives

Current through Register Vol. 48, No. 28, July 12, 2024
This Part is established to accomplish the general purposes
				  of the Affordable Housing Act and in particular the making of grants, mortgages
				  or other loans to acquire, construct, rehabilitate, develop, operate, insure
				  and retain affordable Single-Family Housing and Multifamily Housing for
				  Low-Income Households and Very Low-Income Households.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 360 - AFFORDABLE HOUSING PROGRAM › Subpart A - GENERAL RULES › Section 360.104 - Borrowing by the Authority

Current through Register Vol. 48, No. 28, July 12, 2024
To the extent allowed by the Act and the Affordable Housing
				  Act, the Authority may borrow funds in connection with the
				  Program.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 360 - AFFORDABLE HOUSING PROGRAM › Subpart A - GENERAL RULES › Section 360.105 - 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.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 360 - AFFORDABLE HOUSING PROGRAM › Subpart A - GENERAL RULES › Section 360.106 - Standards - Criteria

Current through Register Vol. 48, No. 28, July 12, 2024
In administering the Program, the Authority and the Staff
				  shall, in the exercise of discretion, consider, in addition to the criteria
				  specifically set forth in this Part;
a) the purposes of the Program to provide
				affordable, decent, safe and sanitary housing, whether through the making of a
				Loan, a Grant or the use of Trust Fund Monies pursuant to Sections 8(b), (c),
				(d) and 9 of the Act;
b) the
				requirements of applicable State and Federal law;
c) the financial condition and previous
				experience of the Applicant;
d)
				local government and community support for the Development or Single-Family
				Development;
e) suitability of the
				location of the Development or Single-Family Development;
f) cost efficiency;
g) energy efficiency;
h) affordability to Low-Income Households and
				Very Low-Income Households;
i)
				amount of Trust Fund Monies requested per unit;
j) term of the Loan and other sources of
				financing;
k) secured position of
				the Loan;
l) equity contribution of
				Applicant;
m) amount and
				appropriateness of non-construction costs; and
n) results of site and market study, or
				rental analysis, if applicable.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 360 - AFFORDABLE HOUSING PROGRAM › Subpart A - GENERAL RULES › Section 360.107 - 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
				  Director.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 360 - AFFORDABLE HOUSING PROGRAM › Subpart A - GENERAL RULES › Section 360.108 - Fees and Charges of the Authority

Current through Register Vol. 48, No. 28, July 12, 2024
In connection with the Program, the Authority may establish
				  and collect such fees and charges as may be necessary. Such fees and charges
				  shall be deposited in the Trust Fund.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 360 - AFFORDABLE HOUSING PROGRAM › Subpart A - GENERAL RULES › Section 360.110 - Amendment

Current through Register Vol. 48, No. 28, July 12, 2024
This Part may be supplemented, amended, or repealed by the
				  Members, after consultation with the Advisory Commission, from time to time and
				  in such manner as they may determine consistent with this Part, the Act, the
				  Affordable Housing 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 360 - AFFORDABLE HOUSING PROGRAM › Subpart A - GENERAL RULES › Section 360.111 - 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 judgment is
				  rendered.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 360 - AFFORDABLE HOUSING PROGRAM › Subpart A - GENERAL RULES › Section 360.112 - 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 360 - AFFORDABLE HOUSING PROGRAM › Subpart A - GENERAL RULES › Section 360.113 - 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 360 - AFFORDABLE HOUSING PROGRAM › Subpart A - GENERAL RULES › Section 360.114 - 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 a legal State or Federal holiday shall be deemed to fall
				  on the next calendar day that is not a Saturday, Sunday, or a legal State or
				  Federal holiday.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 360 - AFFORDABLE HOUSING PROGRAM › Subpart B - USES › Section 360.202 - Beneficiaries

Current through Register Vol. 48, No. 28, July 12, 2024
Funds from the Trust Fund may be expended for the benefit of
				  Low Income Households and Very Low Income Households. The majority of funds
				  appropriated by the Illinois General Assembly to the Trust Fund for each fiscal
				  year shall be expended for the benefit of Very Low-Income
				  Households.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 360 - AFFORDABLE HOUSING PROGRAM › Subpart B - USES › Section 360.203 - Permitted Uses of Trust Fund Monies

Current through Register Vol. 48, No. 28, July 12, 2024
Trust Fund Monies may be used for the following
				  purposes:
a) to make secured,
				unsecured or deferred repayment Loans;
b) to make zero percent or low interest
				Loans;
c) to make Grants, payments
				or subsidies for the acquisition, construction, rehabilitation, development,
				operation, insurance or retention of Developments or Single-Family Developments
				or to pay predevelopment expenses;
d) to purchase mortgage participation
				certificates representing an undivided interest in specified, first-lien
				conventional residential Illinois mortgages which are underwritten, insured,
				guaranteed or purchased by the Federal Home Loan Mortgage
				Corporation;
e) to be used in
				investments which reduce the risk associated with fluctuations in interest
				rates or the market price of investments or any other investments which are
				lawful for other fiduciaries in the State to make;
f) to provide assistance for Developments
				which are occupied partly by Low-Income Households and Very-Low Income
				Households and partly by households not qualifying as Low-Income Households and
				Very Low-Income Households;
g) to
				purchase first and second mortgages;
h) to make Grants for the provision of
				technical assistance, outreach and building of an Applicant's capacity to
				develop Affordable Housing;
i) to
				pay fees of the Program Administrator not to exceed the amount appropriated by
				the General Assembly each fiscal year in connection with the operation of the
				Program; and
j) to be held,
				pledged, applied or dedicated pursuant to Sections 8(b), (c), (d) and 9 of the
				Affordable Housing Act in connection with Affordable Housing Program Trust Fund
				Bonds or Notes issued pursuant to the Act. Trust Fund Monies used pursuant to
				this subsection
				360.203(j)
				shall be governed by the Affordable Housing Bond Program Rules.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 360 - AFFORDABLE HOUSING PROGRAM › Subpart B - USES › Section 360.204 - Market Rate Developments

Current through Register Vol. 48, No. 28, July 12, 2024
Pursuant to Section 10(d) of the Affordable Housing Act the
				  Authority may provide assistance for Developments which are to be occupied
				  partly by Low-Income Households or Very Low-Income Households provided that the
				  number of units to be occupied by Low-Income Households or Very-Low Income
				  Households shall be acceptable to the Authority, in its sole discretion, and
				  shall be in compliance with any Federal law and the regulations promulgated
				  thereunder, if applicable.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 360 - AFFORDABLE HOUSING PROGRAM › Subpart C - APPLICATION › Section 360.301 - Application

Current through Register Vol. 48, No. 28, July 12, 2024
Applicants seeking monies from the Trust Fund shall submit to
				  the Authority a completed application form prescribed by the Authority together
				  with a nonrefundable application fee. The application fee for for-profit
				  Applicants shall be $500. The application fee for all other Applicants shall be
				  $250.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 360 - AFFORDABLE HOUSING PROGRAM › Subpart C - APPLICATION › Section 360.303 - Review

Current through Register Vol. 48, No. 28, July 12, 2024
Upon receipt of a completed application the Staff shall
				  determine whether the application meets the eligibility requirements of Subpart
				  B of this Part; and, whether all other requirements of this Part and the
				  Affordable Housing Act are met. If the Staff determines that the application
				  fails to meet any of these requirements, the Authority shall notify the
				  Applicant in writing within sixty days after receipt of the application by the
				  Authority.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 360 - AFFORDABLE HOUSING PROGRAM › Subpart C - APPLICATION › Section 360.304 - Initial Contact

Current through Register Vol. 48, No. 28, July 12, 2024
If the Authority determines that the application meets the
				  requirements of this Part and the Affordable Housing Act, the Staff shall
				  contact the Applicant to discuss what additional information, if any, is
				  required in order to allow Staff to make a recommendation on the application to
				  the Advisory Commission.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 360 - AFFORDABLE HOUSING PROGRAM › Subpart C - APPLICATION › Section 360.305 - Site and Market Study/Rental Analysis

Current through Register Vol. 48, No. 28, July 12, 2024
The Authority may conduct a site and market study when the
				  Applicant seeks funds for new construction. The Authority shall conduct a site
				  and market study or rental analysis when the Applicant's proposed rent
				  structure is not in conformity with the rental market rates known to the
				  Authority within a one half mile radius of the Development.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 360 - AFFORDABLE HOUSING PROGRAM › Subpart C - APPLICATION › Section 360.307 - Staff Recommendation

Current through Register Vol. 48, No. 28, July 12, 2024
After reviewing the application, the Staff shall prepare a
				  recommendation for presentation to the Advisory Commission. The Staff shall
				  inform the Advisory Commission, as to each application, whether an application
				  is being recommended for funding, not recommended for funding or rejected due
				  to being ineligible for funding.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 360 - AFFORDABLE HOUSING PROGRAM › Subpart C - APPLICATION › Section 360.308 - Advisory Commission

Current through Register Vol. 48, No. 28, July 12, 2024
The Staff will present its recommendation on each application
				  to the Advisory Commission, together with a summary of the application and any
				  other information provided by Staff in response to the Advisory Commission's
				  requests.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 360 - AFFORDABLE HOUSING PROGRAM › Subpart C - APPLICATION › Section 360.309 - Authority Determination

Current through Register Vol. 48, No. 28, July 12, 2024
The Staff shall present all positive recommendations for
				  funding of the Advisory Commission to the Members. Monies from the Trust Fund
				  can only be allocated pursuant to resolution by the Members.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 360 - AFFORDABLE HOUSING PROGRAM › Subpart C - APPLICATION › Section 360.310 - Conditional Commitment

Current through Register Vol. 48, No. 28, July 12, 2024
After approval of an application by the Members, the Staff
				  shall prepare and deliver to the Applicant a conditional commitment which
				  contains the Authority's commitment to allocate Trust Fund Monies conditioned
				  upon the Applicants meeting the requirements of the conditional commitment and
				  the availability of monies in the Trust Fund. The conditional commitment shall
				  expire, if unfunded, within one year from the date of
				  issuance.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 360 - AFFORDABLE HOUSING PROGRAM › Subpart D - NOTICE › Section 360.401 - 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 to the
				  following persons and agencies:
1) the
				chairman of the county board of the county in which the proposed Development or
				Single-Family Development is to be located;
2) the mayor or other chief executive of the
				municipality, if any, in which the proposed Development or Single-Family
				Development is to be located;
3)
				the appropriate Clearinghouses; and
4) each member of the General Assembly from
				the legislative district in which the proposed Development or Single-Family
				Development is to be located.
If the application does not request Trust Fund Monies for a
				  specific Development or Single-Family Development, the notice will be sent
				  based on the location of the Applicant.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 360 - AFFORDABLE HOUSING PROGRAM › Subpart D - NOTICE › Section 360.402 - Comments and Responses

Current through Register Vol. 48, No. 28, July 12, 2024
a)
				Comments
The persons and agencies receiving notice pursuant to Section
				  360.401 shall
				  have 30 days from the date of mailing to submit written comments to the
				  Applicant.
b) Applicant's
				Response
The Applicant shall respond in writing to all comments
				  received under this Section, 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) The Members
				shall consider all comments received pursuant to this Section when making their
				determination.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 360 - AFFORDABLE HOUSING PROGRAM › Subpart E - RECIPIENT › Section 360.502 - Land Trusts

Current through Register Vol. 48, No. 28, July 12, 2024
Whenever title to the Real Estate is held in an Illinois land
				  trust, the agreement creating the Trust and establishing the respective rights,
				  powers, and duties of the Trustee and Recipient shall be in a format approved
				  by the Authority. The Authority shall approve such format only if it meets the
				  legal requirement necessary to create a valid Illinois land
				  trust.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 360 - AFFORDABLE HOUSING PROGRAM › Subpart E - RECIPIENT › Section 360.503 - Books and Records

Current through Register Vol. 48, No. 28, July 12, 2024
The books and records of the Development and the Recipient
				  shall be subject to inspection, examination, and copying by the Authority and
				  its authorized representatives or agents at such times as the Authority
				  reasonably requires for the purpose of determining compliance with the Rules,
				  the Act, the Affordable Housing Act and all contracts and agreements relating
				  to the Program.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 360 - AFFORDABLE HOUSING PROGRAM › Subpart E - RECIPIENT › Section 360.504 - Audits

Current through Register Vol. 48, No. 28, July 12, 2024
The architectural plans and specifications, apparatuses,
				  devices, books and records, contracts, documents, and other papers relating
				  thereto of the Development or Single-Family Development shall at all times be
				  maintained in reasonable condition for proper audit and shall be subject to
				  inspection, examination, and copying by the Authority and its authorized
				  representatives or agents at such times as the Authority reasonably requires.
				  All audits, certifications, and financial reports which the Recipient is
				  required by contract with the Authority to allow, undertake, or prepare shall
				  be made by an independent certified public accountant acceptable to the
				  Authority.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 360 - AFFORDABLE HOUSING PROGRAM › Subpart E - RECIPIENT › Section 360.505 - Annual Financial Report

Current through Register Vol. 48, No. 28, July 12, 2024
The Recipient shall furnish the Authority with a complete
				  annual financial report based upon the books and records of the Development and
				  the Recipient, prepared in accordance with Authority requirements, and
				  certified by the Recipient. If the allocation is made to a Recipient to be
				  disbursed or used for more than one Development or Single-family Development,
				  the Authority shall require the Recipient to submit a complete annual financial
				  report prepared in accordance with Authority requirements.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 360 - AFFORDABLE HOUSING PROGRAM › Subpart E - RECIPIENT › Section 360.506 - Furnishing Information

Current through Register Vol. 48, No. 28, July 12, 2024
The Recipient shall furnish such reports, projections,
				  certifications, analyses, budget, operating report and tax returns as required
				  by applicable Federal, State or local statutes, regulations, or subsidy or
				  assistance programs or by the Authority, and shall furnish specific answers to
				  the Authority's questions about the Recipient's income, assets, liabilities,
				  and contracts and, if applicable, about the administration, operation,
				  maintenance, occupancy, financial soundness, and physical condition of the
				  Development or Single-Family Development.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 360 - AFFORDABLE HOUSING PROGRAM › Subpart E - RECIPIENT › Section 360.507 - Standards for Approval of Conveyance

Current through Register Vol. 48, No. 28, July 12, 2024
In determining whether to approve and/or impose restrictions
				  on the conveyance, assignment, leasing, mortgaging, pledging or other transfer
				  of the Development or Single-Family Development, and the beneficial interest in
				  and power of direction over the Trust, or any partnership interest or stock
				  ownership interest in the beneficiary of the Trust, the Authority shall grant
				  such approval, with any necessary restrictions, only if the Authority
				  determines that such action will not have an adverse impact upon the financial
				  stability of the Development or Single-Family Development.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 360 - AFFORDABLE HOUSING PROGRAM › Subpart F - LOANS AND GRANTS › Section 360.601 - Maximum Loan Amount and Priority

Current through Register Vol. 48, No. 28, July 12, 2024
Loans shall not exceed $1,250,000 for each Recipient.
				  Priority shall be given to those applications which propose the lowest per unit
				  total cost, lowest monthly housing expense, and longest affordability
				  restrictions.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 360 - AFFORDABLE HOUSING PROGRAM › Subpart F - LOANS AND GRANTS › Section 360.602 - Maximum Grant Amount

Current through Register Vol. 48, No. 28, July 12, 2024
Grants by a Recipient to a Very Low-Income Household shall
				  not exceed $5,000. Grants by a Recipient to a Low-Income Household shall not
				  exceed 3,000. Grants to organizations or corporations shall not exceed
				  $750,000. Grants are not available to for-profit entities. All other provisions
				  of this Part apply to Grants made by the Authority.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 360 - AFFORDABLE HOUSING PROGRAM › Subpart F - LOANS AND GRANTS › Section 360.603 - Increase Above Maximum Loan or Grant Amount

Current through Register Vol. 48, No. 28, July 12, 2024
Nothing contained in this Section shall prohibit the
				  Authority from increasing the amount of a Loan or Grant above the limitations
				  specified herein if the Authority, in its sole discretion, determines that such
				  increase is necessary to meet the purposes of the Affordable Housing Act. In
				  deciding whether to approve a Loan or Grant increase, the Authority shall
				  consider the physical condition of the Development or Single-Family
				  Development, the value of the Development or Single-Family Development as
				  security for the Loan, if applicable, the Authority's ability to provide such
				  Loan or Grant increase, the ability of the Recipient to repay the Loan and Loan
				  increase out of gross income of the Development or Single-Family Development,
				  the financial status of the Development or Single-Family Development and any
				  other relevant factors.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 360 - AFFORDABLE HOUSING PROGRAM › Subpart F - LOANS AND GRANTS › Section 360.604 - Amortization

Current through Register Vol. 48, No. 28, July 12, 2024
The maximum amortization period of a Loan to be made by the
				  Authority under this Program shall not exceed 40 years and may be shorter at
				  the sole discretion of the Authority.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 360 - AFFORDABLE HOUSING PROGRAM › Subpart F - LOANS AND GRANTS › Section 360.605 - Recapture of Assistance

Current through Register Vol. 48, No. 28, July 12, 2024
Within each set of Loan documents the Authority shall
				  establish requirements regarding use, occupancy and rent levels as required by
				  the Act and this Part. Such requirements shall provide that if the Recipient
				  violates any of these requirements, such violation shall be deemed a default
				  under the Loan documents.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 360 - AFFORDABLE HOUSING PROGRAM › Subpart F - LOANS AND GRANTS › Section 360.606 - Prepayment of Loan

Current through Register Vol. 48, No. 28, July 12, 2024
The Authority may prohibit the prepayment of a Loan for a
				  Development if the Authority determines that such prepayment will result
				  in:
a) the rents charged at the
				Development exceeding the limits set forth in Section
				360.904(b)
				of this Part at the time of the prepayment;
b) the Development being converted to
				condominiums or cooperatives; or
c)
				a conflict with the Authority's goal of providing affordable housing.
The Authority may allow the prepayment of a Loan for a
				  Development if the Authority determines that the prepayment is in the best
				  interest of the community in which the Development is located.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 360 - AFFORDABLE HOUSING PROGRAM › Subpart G - CONSTRUCTION › Section 360.701 - Design and Construction Standards

Current through Register Vol. 48, No. 28, July 12, 2024
Developments or Single-Family Developments financed by Loans
				  under the Program shall be designed and constructed or rehabilitated to conform
				  with applicable Federal, State, and local statutes, regulations, ordinances,
				  standards, and codes, with industry practices in Illinois, and with the
				  requirements of applicable Authority Rules, contracts, agreements, guides, and
				  other documents.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 360 - AFFORDABLE HOUSING PROGRAM › Subpart H - MARKETING AND MANAGEMENT › Section 360.801 - Marketing and Management

Current through Register Vol. 48, No. 28, July 12, 2024
a) It
				shall be the responsibility of the Recipient to provide for the marketing and
				management of the Development or Single-Family Development in a manner
				satisfactory to the Authority so as to promote the purposes of the Program and
				the financial stability of the Development or Single-Family Development and to
				preserve the value of the Authority's security interest in the Development or
				Single-Family Development.
b) All
				marketing and management plans shall be acceptable to the Authority pursuant to
				Section
				360.802.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 360 - AFFORDABLE HOUSING PROGRAM › Subpart H - MARKETING AND MANAGEMENT › Section 360.802 - Marketing and Management Plans

Current through Register Vol. 48, No. 28, July 12, 2024
a)
				Approval. Before the Authority makes a Loan or Grant under the Program or at
				such other time as required by the Authority, the Authority may require the
				Applicant to submit for the Authority's approval plans for the marketing and
				management of the Development or Single-Family Development. In deciding whether
				to approve such plans, the Authority shall consider: the purposes of the
				Program; the provisions of the Tenant Selection Plan or Participant Selection
				Plan; any applicable Federal and State statutes and regulations; and any other
				relevant matters.
b) Contents of
				Marketing Plan. The marketing plan shall set forth: the policies and procedures
				to be used in marketing; shall address the qualifications of the marketing
				agent; the nature of the market; the dates of availability of occupiable units
				by type and location; the dates of availability and locations of facilities
				essential to the marketing campaign, including model units, the rental office,
				and the community building; compliance with all Federal, State and local fair
				housing requirements; and the promotion of the Development or Single-Family
				Development, including the use of mass media, public relations, brochures,
				signs, equipment and furnishings for model units and the rental office, and
				marketing staff.
c) Contents of
				Management Plan. The management plan shall set forth the policies and
				procedures to be used in the management of the Development and shall, if
				applicable, address the qualifications of the managing agent, procedures for
				recruiting and supervising management personnel, and physical maintenance of
				the Development.
d) Responsibility.
				The Recipient shall be responsible for ensuring the marketing agent's and the
				managing agent's compliance with all applicable Federal, State and local
				ordinances, regulations, statutes, and Authority Rules, agreements, and
				requirements.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 360 - AFFORDABLE HOUSING PROGRAM › Subpart H - MARKETING AND MANAGEMENT › Section 360.803 - Maintenance

Current through Register Vol. 48, No. 28, July 12, 2024
The Recipient shall maintain the Development or Single-Family
				  Development, or cause the Development or Single-Family Development to be
				  maintained, including without limitation, the dwelling units, commercial
				  facilities, and grounds and equipment related to the Development or
				  Single-Family Development, in a decent, safe, and sanitary condition, in a
				  tenantable and rentable state of repair, and in compliance with applicable
				  Federal, State, and local statutes, regulations, ordinances, standards and
				  codes.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 360 - AFFORDABLE HOUSING PROGRAM › Subpart H - MARKETING AND MANAGEMENT › Section 360.804 - Cost of Service

Current through Register Vol. 48, No. 28, July 12, 2024
The Recipient shall not pay more for administrative,
				  operating, and maintenance expenses than is reasonable given the location and
				  size of the Development or Single-Family Development, the level of
				  administration, operation, and maintenance required by the applicable Authority
				  Rules and agreements, the requirements of the marketing plan, management plan,
				  Participant Selection Plan, Tenant Selection Plan, the uniqueness or quality of
				  available services or supplies, the presence of an emergency or other time
				  constraint, the creditworthiness of suppliers and contractors, and any other
				  relevant factors.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 360 - AFFORDABLE HOUSING PROGRAM › Subpart I - TENANTS AND OCCUPANCY › Section 360.901 - Displacement

Current through Register Vol. 48, No. 28, July 12, 2024
Recipients shall not cause the permanent displacement of any
				  Tenants in a Development or Single-Family Development that receives Trust Fund
				  Monies for rehabilitation except as provided in Section
				  360.903
				  of this Part.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 360 - AFFORDABLE HOUSING PROGRAM › Subpart I - TENANTS AND OCCUPANCY › Section 360.903 - Tenant Selection Plan and Participant Selection Plan

Current through Register Vol. 48, No. 28, July 12, 2024
Before making a Loan, Grant or any other allocation under the
				  Program, the Authority shall approve, where applicable, a Tenant Selection Plan
				  or Participant Selection Plan submitted by the Applicant and setting forth the
				  income limits for Tenants. In approving the Tenant Selection Plan or
				  Participant Selection Plan, the Authority shall: consider whether the selection
				  procedures will be equitable considering the family size and circumstances of
				  the Tenant; maintain the financial stability of the Development or
				  Single-Family Development; meet the requirements of Section
				  360.905 of
				  this Part; and comply with the Authority's Rules.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 360 - AFFORDABLE HOUSING PROGRAM › Subpart I - TENANTS AND OCCUPANCY › Section 360.904 - Income and Housing Expense Limits

Current through Register Vol. 48, No. 28, July 12, 2024
a) A Tenant's initial occupancy of a unit
				held available for rental to Low-Income Households and Very Low-Income
				Households shall be limited to persons and families initially meeting the
				income limits set forth in subsection (b) below. If a Tenant meeting income
				requirements at the time of initial occupancy subsequently fails to continue to
				meet such requirements, that failure shall not constitute non-compliance by
				that Tenant.
b) Determination of
				Income Limits
1) For all units in a
				Development, or a Single-Family Development, reserved for Low-Income
				Households, the income limits shall be equal to 80% of the median family income
				with adjustments for family size, for the area in which the Development or
				Single-Family Development is located, as such median income is determined from
				time to time by the United States Department of Housing and Urban Development
				for purposes of Section 8 of the United States Housing Act of 1937 (
				42
				U.S.C. 1437 ). The median income of the area
				of residence shall be attached to each application provided by the Authority
				and additionally shall be available upon request.
2) For all units in a Development, or a
				Single-Family Development, reserved for Very Low-Income Households, the income
				limits shall be equal to 50% of the median family income with adjustments for
				family size, for the area in which the Development or Single-Family Development
				is located, as such median income is determined from time to time by the United
				States Department of Housing and Urban Development for purposes of Section 8 of
				the United States Housing Act of 1937 (
				42
				U.S.C. 1437 ). The median income of the area
				of residence shall be attached to each application provided by the Authority
				and additionally shall be available upon request.
3) The Recipient shall obtain from each
				prospective Tenant intending to occupy a unit in a Development, or a
				Single-Family Development, reserved for Low-Income Households and Very
				Low-Income Households, and on an annual basis thereafter, a certification of
				income. The Recipient shall submit such certification to the Authority by
				mail.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 360 - AFFORDABLE HOUSING PROGRAM › Subpart I - TENANTS AND OCCUPANCY › Section 360.905 - Non-Discrimination

Current through Register Vol. 48, No. 28, July 12, 2024
Recipients shall not refuse to accept Tenants for occupancy
				  solely because the Tenant receives governmental rental assistance, nor based on
				  a prospective Tenant's race, national origin, ancestry, religion, creed, sex,
				  age, familial or marital status, disability, or unfavorable military
				  discharge.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 360 - AFFORDABLE HOUSING PROGRAM › Subpart J - ENERGY EFFICIENCY › Section 360.1001 - Standards

Current through Register Vol. 48, No. 28, July 12, 2024
All Developments receiving assistance from the Trust Fund for
				  construction and rehabilitation shall comply with the provisions of 47 Ill.
				  Adm. Code 310. Subpart I.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 360 - AFFORDABLE HOUSING PROGRAM › Subpart K - CERTIFICATIONS › Section 360.1101 - Environmental Assessment

Current through Register Vol. 48, No. 28, July 12, 2024
Prior to the making of a Loan or Grant under the Program, the
				  Authority may require the Applicant to conduct or authorize the Authority to
				  cause to be conducted on the Applicant's behalf a Phase I environmental
				  assessment review, certified to the Authority, of the proposed Development
				  undertaken by an environmental consultant approved in advance by the Authority.
				  The Authority may, at its election, commission such assessment. The
				  environmental assessment shall, at a minimum, consist of a review of historic
				  activities on the Real Estate and current conditions of the Real Estate which
				  identify potential violations of applicable environmental laws. If the results
				  of the Phase I environmental assessment disclose the presence of any hazardous
				  substance as described at Section 101(14) of the Comprehensive Environmental
				  Response, Compensation and Liability Act (
				  42
				  U.S.C. 9601(14) ), or any
				  other adverse environmental conditions, as determined by the Authority, then
				  the Authority may deny the application or the funding of the Loan or Grant. The
				  Authority may elect, as a condition to further review of the application or to
				  the making of the Loan or Grant, as the case may be, that the Applicant shall
				  conduct or authorize the Authority to conduct on the Applicant's behalf a Phase
				  II comprehensive environmental assessment certified to the Authority by an
				  environmental consultant approved in advance by the Authority. This Phase II
				  assessment may consist of sampling, lab analysis and an estimate of the
				  magnitude of environmental problems, as well as costs involved in site cleanup.
				  The Applicant shall pay the costs of all such assessments, and the costs may,
				  at the sole discretion of the Authority, be payable out of Loan or Grant
				  proceeds.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 360 - AFFORDABLE HOUSING PROGRAM › Subpart K - CERTIFICATIONS › Section 360.1102 - Other Laws

Current through Register Vol. 48, No. 28, July 12, 2024
All Developments receiving assistance from the Trust Fund for
				  construction and rehabilitation shall comply with the provisions of the
				  Environmental Barriers Act [410 ILCS 25 ], the Illinois Accessibility Code (71
				  Ill. Adm. Code 400), the Americans with Disabilities Act (
				  42 U.S.C.
				  12101 et seq.), Executive Order for the
				  Reduction of Earthquake Hazards (Executive Order 90-2), the Historic
				  Preservation Act [20 ILCS 3410 ], and all other local, State and Federal laws,
				  as applicable.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 365 - AFFORDABLE HOUSING BOND PROGRAM › Subpart A - GENERAL RULES › Section 365.101 - Authority

Current through Register Vol. 48, No. 28, July 12, 2024
This Part is authorized by and implemented pursuant to the
				  Illinois Housing Development Act [20 ILCS 3805 ] and the Illinois Affordable
				  Housing Act [310 ILCS 65 ] and shall govern the Program.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 365 - AFFORDABLE HOUSING BOND PROGRAM › Subpart A - GENERAL RULES › Section 365.102 - Purpose and Objectives

Current through Register Vol. 48, No. 28, July 12, 2024
This Part is established to accomplish the general purposes
				  of the Act and the Affordable Housing Act and in particular the making of
				  mortgages or other loans from the proceeds of Bonds or Notes to be issued by
				  the Authority pursuant to the Act to acquire, construct, preserve, improve,
				  renovate, rehabilitate, maintain, finance, refinance and assist Affordable
				  Housing, including, without limitation, Financially Troubled
				  Developments.