![]() LIHTC is the most significant resource for creating affordable housing in the United States today. LIHTC is a public-private partnership in which investors provide equity for low income rental properties in exchange for a federal tax credit. The QAP encompasses the application requirements and selection criteria for receiving these federal tax credits and tax exempt bonds. Each year, the City of Chicago receives an allocation of federal Low-Income Housing Tax Credits (LIHTC) to create affordable rental housing. The projects are the first selected under the City’s improved Qualified Allocation Plan, or QAP. “Our future rests on keeping Chicago safe and affordable for every family and resident, providing them the stability and foundation we all need lay to down roots, start a family, grow a business, and pursue our dreams.”Ĭhosen from a pool of 43 applications, the 11 projects are an exciting mix of new construction, rehabilitation and innovation, including the winner of an international sustainable design competition in East Garfield Park using first-of-its-kind modular construction produced in a factory here in Chicago. “Taken together, these projects represent the dynamic innovation and partnership our city is bringing to expand affordable housing across each of Chicago’s communities and neighborhoods,” Mayor Lightfoot said. The creation and equitable distribution of affordable housing throughout Chicago’s 50 wards and 77 communities is a top priority for Mayor Lightfoot. All told, the developments will create 1,083 units of affordable housing in Pilsen, Humboldt Park, Woodlawn and several other communities across the North, South and West sides of the city. The 11 projects reflect the diversity of Chicago’s neighborhoods. Lightfoot announced today that nearly $400 million in affordable housing construction projects have been selected to move forward through the City’s improved, more targeted and transparent federal tax credit allocation distribution process. Know Your Rights: Residential Tenant Lockout.Know Your Rights: Fair Notice Ordinance.Know Your Rights: Eviction and Lockout Resources.Emergency Rental Assistance Program (ERAP).Affordable Rental Housing Resource List.Know Your Rights: COVID 19 Eviction Protection Ordinance (Expired).What Landlords Should Know: COVID-19 Protection Ordinance (Expired).Residential Landlord and Tenant Ordinance.Emergency Relief for Affordable Multifamily Properties (ERAMP).Tax Increment Financing - Neighborhood Improvement Program (TIF - NIP).Small Accessible Repairs for Seniors (SARFS).Additional Dwelling Units (ADU) Ordinance.Neighborhood Lending Program Home Purchase and Purchase/Rehab.Building Neighborhoods and Affordable Homes Program.Multi-Family TIF Purchase-Rehab Program.Multi-Family Financial Assistance Applications.Illinois Affordable Housing Tax Credits (Donations Tax Credit).Community Housing Development Organization (CHDO) Certification.Chicago Neighborhood Rebuild Pilot Program.Affordable Requirements Ordinance (ARO).606-Pilsen Demolition Permit Surcharge Ordinance.2019-23 Five-Year Housing Plan: One Chicago.
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