Multi-Family Assistance

City Lots for City Living allows eligible applicants to purchase vacant City-owned property for affordable housing activities.

Cook County Class 9 Program offers a 50% reduction in assessments and taxes to developers who complete major rehab on multifamily buildings and keep rent below certain levels.

Cook County Class S Program is a tax Incentive that preserves project-based Section 8 multifamily rental housing as decent, safe and affordable options for low- and moderate-income households in Cook County.

Downtown Affordable Housing Zoning Bonus: Developers who are in the downtown zoning districts are eligible to receive additional square footage for residential development in exchange for a commitment to affordable housing.

Housing Preservation provides affordable housing preservation initiatives in local communities

Illinois Affordable Housing Tax Credit (IAHTC) (Donations Tax Credit) provides a $0.50 state income tax credit for each $1 contributed to a qualified affordable housing project.
Download IAHTC applications: Stand Alone Application, Employer Assisted Housing, and Technical Assistance

Low Income Housing Tax Credit Program provides federal tax credits for owners and investors of rental properties.

Troubled Building Initiative: The Troubled Building Initiative (TBI) is a tool to help reclaim troubled and abandoned buildings that create dangerous and hazardous conditions for residents, neighborhoods, and first responders.

Multifamily Project Financial Assistance: Multifamily housing developer assistance such as low-income housing tax credits; federal, state and local funds such as TIF as first or second mortgage loans; city land; and issuance of private and other tax-exempt bonds.  Applications and Supporting Information below:

Downloadable documents below:

  • Economic Disclosure Statement (EDS), Developer Disclosure Affidavit, & Familial Affidavit; I-EDS form, II-EDS Rules

 Supporting Information Facts

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