Illinois Housing Development Authority Board Meeting Minutes January 2026
Tax Credit Reallocation & Risk Sharing Loan for Southbridge Phase 1C
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Description
Illinois Housing Development Authority approved the return and reallocation of $1,500,000 in tax credits and issued a $6,686,000 Risk Sharing loan to The Community Builders, Inc. for Southbridge Phase 1C.
Contract Details
Contract Amount
1,500,000 (Tax Credits returned/reallocated) and $6,686,000 (Risk Sharing Loan)
Vendor
THE COMMUNITY BUILDERS INC
Agency
Illinois Housing Development Authority, IL
Contract Type
FINANCIAL_SERVICES
Document Date
January 16, 2026
Contract Term
20 years (loan, through year 20)
Renewal Date
2046-01-16
Renewal Info
Loan is structured for 20-year coverage; reallocation resets annual credit eligibility for compliance cycle.
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PENDINGIssuing Agency
Illinois Housing Development Authority
Local Housing Authority
Chicago, IL
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