GOOD FOR DEVELOPERS

FinanceableLeverage capital investment with the

commitment of dependable, monthly rent

subsidy checks.

Long TermRHI subsidies stay with the apartment; the

contract is for a maximum of ten years and

can be renewed.

Additional Tax Credit PointsSelected RHI proposals score additional

points in Illinois Housing Development

Authority (IHDA) tax credit competitions.

GOOD FOR PROPERTY OWNERSAND MANAGERS

Guaranteed IncomeThe program delivers reliable, consistent,

monthly payments regardless of rental

market conditions.

FlexibleApplicants decide how long they would like

to stay with the program. The subsidy can

stay with the unit for up to 10 years, and it

is renewable.

Housing Endorsement Criteria

L o c a t i o nNear jobs and mass transit within incorpo-rated cities and towns in Cook, Lake, andM c H e n ry counties

D e s i g nHigher densities in order to pre s e rve openspace, reduce traffic congestion and pro-mote eff i c i e n c y

Mixed incomeHousing at all income levels within thesame community, and a consistent qualityand design at all price points

M a n a g e m e n tTrack re c o rd addressing both tenant andcommunity concern s

GOOD FOR COMMUNITIES

Homes for Local WorkforceRHI helps create and preserve local housing

development opportunities for families in

areas with high job growth.

High-Quality DevelopmentThe awarding of RHI subsidies is guided by

the Housing Endorsement Criteria, adopted

by the Metropolitan Mayors Caucus in 2002

to promote attractive housing and mixed-use

developments that meet community and

regional needs.

“Subsidies such as those offered through the RHI are a well-tested, known quantity. You can finance with them, and they are a guaranteed rental stream in any economic climate.” Dan Burke, vice president, Chicago Community Development Corporation

“RHI is a great resource that provides a steady source of income that stays with the building. Given current market conditions, I think programs like RHI are critical to keeping rental workforce housing in communities that need it most.” Judy Roettig, executive vice president, Chicagoland Apartment Association

Photography: Clockwise from far left – MPC, theJeff Pickus Companies.

For an application packet, visitw w w. re g i o n a l h o u s i n g i n i t i a t i v e . o rg

or the Illinois HousingDevelopment Authority Web sitew w w. i h d a . o rg

Download and send back theNotice of Interest Form to re c e i v ethe latest information on RHI

For more information, contact:M e t ropolitan Planning CouncilRobin Snyderm a n3 1 2 / 8 6 3 - 6 0 0 7r s n y d e rm a n @ m e t ro p l a n n i n g . o rg

Illinois Housing Development AuthorityMike Juozaitis3 1 2 / 8 3 6 - 5 3 9 7m j u o z a i t @ i h d a . o rg

Housing Authority of the County of Cook Sandra Sharp3 1 2 / 5 4 2 - 4 6 6 2s s h a r p @ t h e h a c c . o rg

Lake County Housing AuthorityAlon Jeff re y847/223-1170, ext. 201l c h a 1 @ a o l . c o m

M c H e n ry County Housing AuthorityEllen Sonntag8 1 5 / 3 3 8 - 7 7 5 2e s o n n t a g @ a m e r i t e c h . n e t

Chicago Housing AuthorityKellie O’Connell-Miller3 1 2 / 7 4 2 - 9 0 4 4k o c o n n e l l @ t h e c h a . o rg

The Regional Housing Initiative is acollaboration ofIllinois Housing Development AuthorityHousing Authority of the County of CookLake County Housing AuthorityM c H e n ry County Housing AuthorityChicago Housing AuthorityM e t ropolitan Planning Council

LET US HELP YOU

Regional Housing Initiative

A new tool to make it easier to oper-

ate, develop, or rehabilitate mixed

income, multi-family rental housing

t h roughout the Chicago metro p o l i t a n

region, particularly in areas of high

job gro w t h .

Easy to ApplyApplications can be submitted at any time.

How It WorksAwarded applicants obtain a rental

payment for each eligible unit leased to

a family who qualifies for assistance in

their rent.

RHI RequirementsProposals must follow Housing

Endorsement Criteria (see inside). RHI

can fund up to 25 percent of total units

per development (up to 100 percent for

disabled-only developments.) Elderly-only

developments are not eligible for RHI

funds. Minimum request for subsides is

5 apartments.

All normal Fair Housing tenant/landlord

rules and regulations apply.

Photography: Above – MPC. Cover, leftto right – MPC, Heartland Housing.