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Transcript of HAI
Core Ideas of HAI
Conducting an Analysis
In May, both in Illinois and the Chicago PMSA ( Cook, DeKalb, DuPage, Grundy, Kane, Kendall, McHenry and Will Counties) experienced their 23rd consecutive gains in sales and the 9th rise in median prices on a year-over-year base.
The foreclosure inventory in the Chicago PMSA achieved the seventh consecutive monthly decrease in May.
Low Income Tax Credit (LITHC)
Provides incentive to invest on affordable rental housing.
Federal Housing Tax Credits are awarded to developers, which then sell to investors to raise capital (or equity) for the projects, therefore creating affordable rates.
Currently there are 162 members
What are current housing issues that are affecting the state?
How can we create a common denominator for all entities without exclusion?
ORGANIZING AND COALITION BUILDING
What can we conclude?
Overall, the state is showing signs of robust activity and the need for individual financing and infusion of capital to LMI communities.
State and County Housing Authorities
HAI needs to bridge all sectors and provide a catalyst for positive change by providing solutions that support the growth, revitalization and stabilization of affordable housing.
New Market Tax Credit (NMTC)
U.S. Treasury and CDFI Fund to generate $15 billion in new private-sector investments in low-income communities.
Applicable for the following three asset types:
Commercial Real Estate Projects
Community Development Financial Institutions
Businesses and Non-Profits
Keeping People Engaged and Motivated
Encourage people’s investment in the process and progress.
Training Opportunities and Leadership Development
Host Town Hall Meetings
Schedule Face-Face Meetings
Take a “pulse” of the community
Make those involved in the process accountable