IL agency launches affordable housing program - KWWL - Eastern Iowa Breaking News, Weather, Closings

IL agency launches affordable housing program

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CHICAGO (AP) -- The Illinois Housing Development Authority has launched a program aimed at preserving affordable rental housing.

The authority is collaborating with officials from the U.S. Department of Housing and Urban Development, the Illinois Department of Commerce and Economic Opportunity, the MacArthur Foundation and developers.

The plan will be funded by the authority's Multi-Family Initiative Bonds program, which includes some federal money.

Through the bonds program, the authority will make available $184 million in tax-exempt bond financing for housing development.

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