Episode 54: Illinois IHDA Announces Next Generation R3 Initiative Cohort

From Spring Street Management Group, this is The Spring Street Brief — your daily briefing on affordable housing in America. Today we discuss the Illinois Housing Development Authority's Next Generation R3 initiative.IHDA announces Next Generation R3 cohort for affordable housing in disinvested communitiesProgram combines LIHTC with state cannabis tax revenue for R3 priority areasR3 zones designated based on poverty, unemployment, incarceration, and mental health accessFunded projects include family, mixed-use, and senior housing across IllinoisAll projects require community engagement and local hiring commitmentsIllinois also implementing new state Affordable Housing Tax CreditSuccessful applicants typically begin community outreach months before LIHTC applications.Subscribe to The Spring Street Brief for daily insights on LIHTC, Section 8, HUD policy, and affordable housing finance.Keywords: Illinois, IHDA, Illinois Housing Development Authority, R3, Restore Reinvest Renew, cannabis tax revenue, LIHTC, 9% LIHTC, 4% LIHTC, racial equity, climate resilience, economic mobility, QAP, community engagement, local hiring, Chicago, state tax credit, predevelopment, soft financing, affordable housing, Spring Street Management Group]]>