City of Champaign Partners with Down Payment Assistance Programs
The IllinoisAssist program offers homebuyers a 30-year, fixed-rate mortgage and a three to seven percent cash grant based on the size of the loan for down payment and closing costs. The Illinois Housing Development Agency (IHDA) offers three mortgage products up to $10,000 under the IHDAccess programs. Each product offers down payment, closing cost assistance […]
Virtual Landlord Forum
On May 4, 2021, Neighborhood Services partnered with Champaign County Regional Planning Commission (CCRPC) and Habitat for Humanity to host a virtual forum for area landlords. Presenters were CCRPC’s Community Services Director Lisa Benson, And Habitat for Humanity’s Family Services Manager Jim Mueller. Sixty-two landlords joined the meeting to learn about new rental assistance funds […]
IHDA Homeownership Programs
The Illinois Housing Development Authority (IHDA) gave a presentation to City staff and partners at the monthly meeting of the Community Reinvestment Group. Javier Gamucio, IHDA’s Director of Homeownership, presented information on IHDA’s housing downpayment assistance programs. IHDA currently offers five mortgage products that offer down payment, closing cost assistance and 30-year fixed rate mortgages […]
City Applies for Illinois Housing Development Authority Abandoned Property Program Grant
The Neighborhood Services Department (NSD) applied to the Illinois Housing Development Authority (IHDA) for $75,000 in their recent Round 3 Funding Cycle. The purpose of the grant program is to use funding in the Abandoned Residential Property Municipality Relief Fund for costs incurred for the securing, maintenance, and demolition of abandoned residential properties. The funding […]
Low-Income Housing Tax Credits Awarded to Bristol Place Redevelopment
The City of Champaign is pleased to announce that earlier today the Illinois Housing Development Authority awarded Oak Grove Development Corporation (an affiliate of the Housing Authority of Champaign County), in partnership with the City of Champaign and AHDVS, LLC, low-income housing tax credits for the Bristol Place redevelopment project. The tax credits were awarded […]
Bristol Place Master Developer Submits Pre-application for Redevelopment
On behalf of the Bristol Place redevelopment partners, AHDVS, LLC, submitted to the Illinois Housing Development Authority (IHDA) a pre-application for the 9% low income housing tax credits (LIHTC). LIHTC provides the majority of funding for affordable housing rental developments across the nation and the 9% tax credits are highly competitive. IHDA will review the […]
City Receives Grant to Fund Demolitions
On February 17, Neighborhood Services staff received notification from the Illinois Housing Development Authority that the City’s application for $75,000 in the Abandoned Residential Property Grant program will receive $74,500 in funding. This is the City’s second successful application for IHDA demolition funding, with the first occurring in 2013. The additional funds provided will be utilized […]