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The Authority continues to serve as the secondary financier for many developments and redevelopments of Illinois multifamily residential housing. During the COVID-19 pandemic, IHDA became the State of Illinois agency of standing in the implementation of nationwide housing assistance for persons seeking emergency assistance with rental payments.
Section 8 of the Housing Act of 1937 ( 42 U.S.C. § 1437f ), commonly known as Section 8, provides rental housing assistance to low-income households in the United States by paying private landlords on behalf of these tenants. Approximately 68% of this assistance benefits seniors, children, and individuals with disabilities. [ 1]
In the United States, subsidized housing is administered by federal, state and local agencies to provide subsidized rental assistance for low-income households. Public housing is priced much below the market rate, allowing people to live in more convenient locations rather than move away from the city in search of lower rents.
The Rental Assistance Demonstration is a federal housing program that was enacted as part of the Consolidated and Further Continuing Appropriations Act, 2012, [ 1] and is administered by the U.S. Department of Housing & Urban Development (HUD). Broadly, the purpose of the Rental Assistance Demonstration (or RAD) is to provide a set of tools to ...
Section 521 rental assistance. Section 521 rental assistance is rental assistance authorized under Section 521 of the Housing Act of 1949 (42 U.S.C. 1441 et seq.). Owners of housing financed under Section 515 or Section 514 may receive rental assistance payments from the Rural Housing Service (RHS). The assistance payments enable eligible ...
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