Illinois Housing Development Act
IHDA was created by the state legislature in 1967 pursuant to the Illinois Housing Development Act as a self-supporting agency to finance affordable housing across Illinois. IHDA does not use taxpayer dollars to sustain its operations, although it does administer publicly funded programs on behalf of the state. Since its creation, IHDA has provided more than $20 billion to finance more than a quarter million affordable homes. IHDA accomplishes its mission through a number of funding sources including the Illinois Affordable Housing Trust Fund, Illinois Affordable Housing Tax Credits, the allocation of federal Low-Income Housing Tax Credits and HOME Investment Partnership funds. IHDA is also a bonding authority and independently sells bonds, based on our strong credit rating of A1/AA/AA from Moody’s Investors Service, Standard & Poor’s and Fitch Ratings respectively.