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The LIHTC provides funding for the development costs of low-income housing by allowing an investor (usually the partners of a partnership that owns the housing) to take a federal tax credit equal to a percentage (either 4% or 9%, for 10 years, depending on the credit type) of the cost incurred for development of the low-income units in a rental housing project.
Since 1987, the Low Income Housing Tax Credit has become the most important resource for creating affordable housing in the United States, responsible for more than three million units of affordable housing. [4] NEF has invested over $16.75 billion in 2,494 housing developments, creating 158,907 affordable homes since its founding in 1987.
The Tax Credit Assistance Program (TCAP) is a Federal housing grant program administered by HUD which assists Low Income Housing Tax Credit (LIHTC) projects funded during 2007, 2008 and 2009. The TCAP program is part of the American Recovery and Reinvestment Act which was signed by President Obama on February 17, 2009.
The Authority continues to serve as the secondary financier for many developments and redevelopments of Illinois multifamily residential housing. [3] During the COVID-19 pandemic, IHDA became the State of Illinois agency of standing in the implementation of nationwide housing assistance for persons seeking emergency assistance with rental payments.
A Qualified Intellectual Disability Professional, often referred to as a QIDP for short is a professional staff working with people in community homes who have intellectual and developmental disabilities and was previously known as a Qualified Mental Retardation Professional or QMRP. [1]
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The Commission on Rehabilitation Counselor Certification is a national certifying organization for professional rehabilitation counselors.Based in Schaumburg, IL, it is an independent, not-for-profit organization whose purpose is to establish, maintain, and monitor a national certification program for Certified Rehabilitation Counselors, including maintaining a register of all certified ...
The Illinois state government has numerous departments, but the so-called code departments provide most of the state's services. [1] [2] Code departments.