Specifications include, but are not limited to: The Authority is a body politic and corporate of the State created in 1967 by the Illinois Housing Development Act (the "Act"), for the purposes of assisting in the financing of (i) decent, safe and sanitary housing for persons and families of low and moderate income and (ii) residential mortgages in the State. The Act also authorizes the Authority to issue its bonds and notes to fulfill its corporate purposes, including the financing of mortgage and construction loans and the refunding of bonds and notes previously issued to finance mortgage and construction loans. Affordable housing developers apply to the Authority for funding, including various types of tax credits.
