The Illinois Housing Development Authority (IHDA) is stepping up its game to combat homelessness by offering new funding opportunities for developers to create or renovate permanent supportive housing (PSH), as stated on their website. This housing initiative focuses on not only providing affordable living spaces but also vital supportive services designed to help individuals and families establish a sustainable life. The authority has laid out that loans, forgivable loans, and grants will be accessible to projects that align with IHDA's mission to reach "functional zero" homelessness, as reported by illinois.gov.

Targeting the special needs of disabled individuals, those at risk of homelessness, or individuals requiring additional support to live independently, PSH has demonstrated efficacy in both enhancing residents' quality of life and decreasing reliance on emergency assistance which often burdens the economy, and the IHDA welcomes applications from non-profit, for-profit, and joint venture developers to seize this funding chance, fostering a collaborative environment towards this noble cause. Developers interested in applying for this financing are not only welcomed but urged to partake in an IHDA webinar scheduled for August 15 from 1:00 - 2:00 p.m., a session expected to shed light on this opportunity with further details available online for those who register in advance, according to illinois.gov.

Complete information on the PSH Development program, including criteria for submission, application deadlines, and specifics on the application process itself, has been provided on the IHDA website. IHDA encourages those with questions about the program or application process to utilize the designated contact email of [email protected] provided in their announcement.