theO F AFFORDABLE H O US I NGFiscal Year 2014 Annual ReportB

TABLE OF CONTENTSC1Letter from the Vice Chairman and Executive Director2The Power of Housing4The Power of Homeownership10The Power of Rental Housing22The Power of Stabilization24The Power of Assistance26Historical Activity27Awards28FY2014 Rental Housing Production30FY2014 Homeownership Activity32Financial Strength through Stability

The house or apartment a family makes their home affects nearly everyaspect of their lives, determining access to jobs, education, transportationand opportunity. Affordable, stable and well located housing is a force thatcreates strong neighborhoods and supports healthy families. And as themarket continued its rebound in 2014, IHDA gave homebuyers, homeownersand renters across the state the power to shape their lives through the placethey call home.LETTER FROM VICE CHAIRMAN AND EXECUTIVE DIRECTORWe provided the credit and financial support that reinvigorated Illinois’ homesales. When large down payments and tight qualifications kept first-timebuyers on the sidelines, IHDA’s programs were the answer for thousandsof new home buyers. Through IHDA’s network of 100 participating lenders, 373 million in loans were made to 3,382 families across the state, a record inIHDA’s 32 years of mortgage lending.Foreclosure prevention continued to be an important focus. The IllinoisHardest Hit Program provided 416 million in mortgage assistance since itslaunch in 2011, giving more than 13,000 families the strength to save theirhomes. We are proud to say that Illinois was the first large state in the nationto close its Hardest Hit Program in September 2013, having provided timeand options for struggling homeowners in nearly every county of the state.We also invested state and federal resources to fuel production of affordablerental housing for working families and seniors. Our Tax Credit Programmade great strides, did more with less to reduce the cost of constructingor rehabilitating developments. We made housing for Veterans a priority,addressing the challenges military families face in transitioning to civilian life.And we continued to work on behalf of persons with special needs, creatingopportunities for everyone to live with the freedom and choice they deserve.It is our pleasure to share with you our highlights from the Fiscal Year 2014as we observe the incredible power of housing in Illinois. These are excitingtimes for IHDA and we are proud of the growing role we have in makingIllinois a better place to live and work. It was a great year for affordablehousing and we look forward to building on our success in 2015.Karen A. DavisMary R. Kenney“HOUSING IS A FORCETHAT CREATES STRONGNEIGHBORHOODS”Sincerely,Karen A. DavisVice ChairmanMary R. KenneyExecutive Director1



THE POWER OF HOMEOWNERSHIPA HEALTHY HOUSING MARKET is essential to theoverall economic prosperity of Illinois. IHDA is an economicengine, providing liquidity to Illinoisans to fuel the homebuying process. Through efforts such as lowering requiredcredit scores, providing down payment assistance andoffering homeownership counseling, there are a greaternumber of potential homebuyers, helping to grow andstabilize the housing market in the state and in turn, theeconomy.Through IHDA’s network of 100 PARTICIPATING LENDERS , 373MILLION in loans were made to 3,382 FAMILIES generating1,691 JOBS and infusing 79.7 MILLION into Illinois’ economy**Economic Impact of Single Family Home Sales (based on National Association ofRealtors (NAR) calculation) -NAR estimates that one job is generated for every twohome sales.4

HOME BUYER PROFILEAVERAGE AGEAVERAGE INCOME35 5 0,701GENDER3,3821,385MINORITYPARTICIPATION1,9972 3 .80%Other/no informationprovided - 67RACE ÐNICITYAfrican American - 5693,382American Indian/Alaskan Native - 1White - 2,510Asian/Pacific Islander - 36Hispanic - 199HOUSEHOLDSIZE 2103581,4333,3825428395

HOMEOWNERSHIP FIRST-TIME HOMEBUYERSDuring the first 3 months of the program,3,400 HOMEBUYERS in 86 COUNTIES 430 MILLION1,700 NEW JOBSreserved more thanin financing, creatingNEW PRODUCTION RECORDin IHDA’s 30 YEARS of mortgage lendingsetting a6

Angelique BoydWELCOME HOME ILLINOISIHDA launched the Welcome Home Illinois program in April 2014 to stimulate activity among first-time homebuyers. Theprogram offers qualified borrowers 7,500 in down payment assistance, a below-market interest rate for a 30-year fixed-ratemortgage and a lower credit score requirement.After renting a one-bedroom apartment for more than a decade, I didn’t think I had the down payment I needed to buy ahome on my own. But when a new Realtor connected me with the Welcome Home Illinois program, it took only two monthsto find my first home in south suburban Chicago Heights. Better yet, my mortgage payments are even less than what I paidin rent. There are a lot of single people and single moms out there who think they can’t become homeowners. They thinkthey need two people to do it, and that’s not true. I’m one person and I bought my first home, thanks to IHDA.7

HOMEOWNERSHIP VETERANSFormer Staff Sergeant Dr. Eric LukeWELCOME HOME HEROESIHDA launched the Welcome Home Heroes program in December 2011 to give back to those who have sacrificed to safeguardour freedom. The program offers Veterans and military personnel 10,000 in down payment assistance, a secure 30-yearfixed-rate loan and tax benefits to buy a home in Illinois.After serving five years in the United States Army, my wife, Andrea, and I wanted to buy a home of our own. We’re savers bynature, but when you factor in loans from medical school and things we might need to fix in our new house, we realized thedown payment assistance from Welcome Home Heroes could make homeownership possible.8

1,300MILITARY FAMILIES in 80 COUNTIESSince program inception, 167 MILLIONborrowedto become homeownersin financing43 MILITARY FAMILIES per monthpurchase a home through WELCOMEHOME HEROES9

THE POWER OF RENTAL HOUSINGIHDA LEVERAGES STATE AND FEDERALRESOURCES to drive production of affordable rentalhousing for working families, individuals with special needsand senior citizens. These funds are also used to maintainand improve existing affordable rental properties, so thatIllinoisans who are not ready to purchase their own homecan find a rental solution that meets their needs.IHDA invested 395 MILLION and leveraged 230 MILLIONto build 1,201 NEW RENTAL UNITS in 22 developments andrehabilitated and preserved 2,594 UNITS in 23 developments10

2,509 full time jobs inCONSTRUCTION related industriesOPEN1040 181 MILLION in LOCALbusiness income and wages 20 MILLION in TAX REVENUEfor federal, state and local governments1040 1.0 MILLIONin REAL ESTATE TAXES11

RENTAL HOUSING NEW CONSTRUCTIONWalnetta StrongSENIOR HOUSING: MOUNT PROSPECT HORIZONPresently 17 percent of the inhabitants of Illinois are 60 or older. Within the next 15 years it will be reaching 25 percent, almosta 50 percent increase. [1] This is why IHDA is committed to creating more affordable housing opportunities so that our state’sseniors have a safe, decent and affordable place to live. The new construction of Mount Prospect Horizon demonstrates thiscommitment.My life changed after my heart attack. My health was in jeopardy and I wasn’t able to keep up with the daily responsibilitiesof a home. I was in need of a safe, affordable home in a community that would allow me to focus on my health. When I heardabout Mount Prospect Horizon, I knew I found my answer. I moved into my new apartment in September and my health hasdramatically improved. I feel so blessed. I am able to focus on spending time with my grandkids and most importantly, livinga happy, healthy life.[1] Sources: US Census Data, DCEO County Populations Projections and Illinois Department on Aging Fiscal Year 2015 Introduced Budget Network Briefing12

1,910 APARTMENTSSENIORSforcreated or preserved by IHDA financing in FY1413

RENTAL HOUSING REHABILITATIONChristophe AdamsFAMILY HOUSING: GROVE APARTMENTSThe Chicago-based Interfaith Housing Development Corporation had completely reinvented a long-vacant buildingand neighborhood eyesore, transforming it from two stories of crumbling cable television offices into 51 attractive andaffordable apartments for single adults, seniors and people with disabilities who live and work in Oak Park.What Grove Apartments has been transformed into is amazing. In my last apartment, I was confined to the livingroom. I wanted to live in a big building that was accessible and here it is. It’s great!14

1,448 APARTMENTSFAMILIESforcreated or preserved by IHDA financing in FY1415

RENTAL HOUSING PRESERVATIONONE OF THE MAIN REASONS RENTS ARERAISED IS TO OFFSET HIGH REHABILITATIONcosts associated with aging developments. IHDA created thePreservation Now program to protect project-based rentalsubsidies in existing developments by financing the acquisitionand rehabilitation of aging properties by owners who agreeto extend the expiring rental subsidy contracts tied to thedevelopment, ensuring long-term affordability.PRESERVATION NOW has financed the rehabilitation ofSEVEN DEVELOPMENTS across the state, preserving the rentalsubsidies for 1,266 UNITS for 20 years, valued at over 200 MILLION* .* U.S. Department of Housing and Urban Development. Project-Based RentalAssistance: 2015 Summary Statement and Initiatives16

Elgin Fire Chief John FahyPRESERVATION: BUENA VISTA TOWERAPARTMENTSThe Buena Vista Tower Apartments had been on the Elgin FireDepartment’s radar for over a decade due to safety issues and was indanger of losing its subsidy contract. IHDA invested 10.5 million tocorrect safety violations, extend the rental subsidy and preserve muchneeded affordable housing in downtown Elgin.IHDA’s investment allowed this building to become one of the mostup-to-date, fire-safe residential high-rises in the city. This is a primeexample of a public-private partnership at work.17

RENTAL HOUSING PERMANENT SUPPORTIVE HOUSINGMichael GriceHOME FIRST ILLINOISSupportive housing provides the state’s most vulnerable individuals the chance to live with freedom, choice and dignity inthe community of their choice. Supportive housing links residents to an array of services in order to prevent the unnecessaryinstitutionalization of seniors and persons with disabilities and ensure everyone has the chance for a healthy, active life.IHDA provided 15 MILLION in capital program funds to launch the Home First Illinois program which acquires, renovates andleases condominium units to persons transitioning out of nursing homes and into the community.I would rather be in the community than in a nursing home any day. It’s not often that someone with a disability gets to livewhere they want with everything they need around them, but Home First Illinois has provided that for me.18

437 APARTMENTS for PERSONSwith SPECIAL NEEDS created orpreserved by IHDA financing in FY1412%of the total units IHDA createdor preserved in FY14 are supportivehousing19

RENTAL HOUSING VETERANSFREEDOM’S PATH CONSTRUCTION SITEIHDA made an important contribution toward ending Veteran homelessness with the groundbreaking of Freedom’sPath in May 2014, launching the transformation of four acres of land at the Edward Hines, Jr. VA Hospital Campus into72 apartments for homeless or at risk Veterans and their families. The development is one of the first in the nation toclose under a U.S. Department of Veterans Affairs initiative to develop unused or underused VA land into new housingopportunities for homeless Veterans.20

764,203Illinois has the10TH LARGEST VETERANPOPULATION in the country*1,260 VETERANSexperiencedhomelessness on any given nightin Illinois in 20132XVeterans areas likely as other Americans tobecome chronically homeless. The risk for womenVeterans, who often have dependent children, is4Xgreater than for male Veterans.*National Center for Veterans Analysis and Statistics, “Veteran Population,” U.S.Department of Veterans Affairs, from population.asp21

THE POWER OF STABILIZATIONTORNADO RELIEF FUNDAfter dozens of tornadoes hit southern and central Illinoisin November 2013, IHDA quickly responded and created theTornado Relief Fund to provide disaster relief in the form ofrehabilitation assistance to homeowners devastated by thesevere storms. Eligible homeowners receive up to 40,000 torepair damage caused by the severe weather or to reimburseinsurance deductibles.Nearly 2,500 homes were damaged, almost 1,000 of whichwere uninhabitable.22

Tina CornwallTORNADO RELIEFWhen my husband, children and I came out of the basement we werein absolute shock. The tornado destroyed most of our home. We,like many others, were underinsured and the assistance we receivedhelped us rebuild our damaged home. The house received a new roof,siding, windows and a fully renovated interior. This experience hasbrought our community together and made our family stronger andfor that, I am grateful.23

THE POWER OF ASSISTANCEFrances and Oscar WitherspoonILLINOIS HARDEST HIT PROGRAMThe Illinois Hardest Hit Program launched September 2011 and closed September 2013.Within just 24 months, IHDA committed 416 MILLION in FEDERAL MORTGAGE ASSISTANCEso that more than 13,000 FAMILIES could stay in their homes.The program provided up to 35,000 OVER 18 MONTHS in monthly mortgage paymentassistance or reinstatement assistance to households that struggled with income loss.After Frances Witherspoon suffered two strokes in two years, she and her husband, Oscar,thought they would lose their Bloomington home. As Frances’ medical needs increased,Oscar lost his job and could no longer make ends meet. They needed time to explore theiroptions.The Hardest Hit Program helped us tremendously in our time of need. It allowed us to care forFrances, pay our bills and stay in our home near our family. It really made a difference in our lives.24

97%HOMEOWNERSsurveyed STILL LIVE in theirofhomes after exiting the program25

HOMEOWNERSHIPAND RENTAL HOUSINGHISTORICAL ACTIVITYJo aneDeKalbWhitesideFY1970 TO FY2014LakeDuPageCookLeeKendallRock ilionChampaignMenardPiattGRAND WhiteFranklinJacksonWilliamsonUnionJohnson501-750 million26EdwardsJeffersonSaline251-500 million751 million - 1 billion LawrenceWabashWayne 1 million1-250 millionCrawfordRichlandMarionSt. n228,239 UNITS 12.8 BILLION IHDA DOLLARS

AWARD WINNING PROGRAMSTWO AWARDS FOR PROGRAM EXCELLENCEat the 2013 NationalCouncil of State Housing Agencies (NCSHA) annual conference:Communications: Promotional Materials & Newsletters - 2013 IHDAIntegrated Marketing MaterialsSpecial Needs Housing: Housing for Persons with Special Needs - HomeFirst IllinoisIHDA was honored at the 10th Annual IREM Chicago PremierAwards with the 2014 INNOVATIVE MARKETING CAMPAIGN AWARD27

FY2014 RENTAL HOUSING ngress Parkway ApartmentHomesCrystal Lake, McHenryFamily1560 15,250,000 2,450,289 17,700,2899/6/13Northtown ApartmentsSparta, RandolphFamily1216 3,812,854 99,150 3,912,0049/6/13Lake Forest Senior CottagesLake Forest, LakeElderly05 1,022,000 0 1,022,0009/19/13Walnut EstatesCarrollton, GreeneFamily034 7,163,015 532,150 7,695,1659/27/13Senior Suites of Norwood ParkChicago, CookElderly2184 16,556,757 7,183,599 23,740,3569/30/13Freeport Supportive HousingDevelopmentFreeport, StephensonFamily2425 100,784 3,945,400 4,046,184North Suburban SupportiveHousingSkokie, CookFamily2424 5,554,580 0 5,554,58010/18/13Hathaway HomesTaylorville, ChristianFamily326 7,648,000 406,816 8,054,81610/30/13Blue Island SLF aka Prairie Green atFay’s PointBlue Island, CookElderly0120 17,923,793 5,430,635 23,354,428Lake Street StudiosChicago, CookFamily6161 10,189,058 3,804,186 se Area RedevelopmentEast Alton, MadisonFamily1046 13,304,269 2,320,674 15,624,94312/19/13Evergreen Towers IChicago, CookElderly0100 17,033,203 8,689,408 25,722,61112/20/13Pana Towers fka IntegratedCommunity HousingPana, ChristianFamily872 6,353,702 4,147,843 10,501,54512/23/13Shawnee VillageMarion, WilliamsonElderly, Family0120 11,847,304 665,679 12,512,98312/23/13Fullerton Court ApartmentsChicago, CookElderly, Family0196 21,750,000 18,198,425 39,948,42512/23/13Woodlands ApartmentsPeoria, PeoriaFamily068 3,000,000 813,358 3,813,35812/23/13Van Buren Park ApartmentsChicago, CookElderly, Family0299 15,116,400 3,770,651 18,887,05112/23/13Davis ApartmentsChicago, CookFamily080 2,100,000 3,186,631 5,286,63112/23/13Bloomingdale ApartmentsChicago, CookFamily0111 6,000,000 1,364,606 7,364,60612/24/13Montclare Senior of Avalon ParkPhase IIChicago, CookElderly19122 1,886,800 27,525,926 29,412,72612/27/13Freedoms PathHines, CookFamily7272 16,369,971 3,893,445 20,263,41612/30/13Veterans New BeginningsChicago, CookFamily3354 4,535,520 8,993,818 13,529,3381/17/14Sandburg VillageGalesburg, KnoxFamily0128 11,353,538 715,151 12,068,6891/17/14Creekwood ApartmentsMorton, TazewellFamily0104 13,433,650 672,381 14,106,0312/3/14Lakewood Village ApartmentsIsland Lake, LakeFamily084 7,290,087 5,145,104 12,435,191

Country Village I2/14/14Country Village IIIAnna, UnionFamily040 4,065,963 300,173 4,366,136Metropolis, MassacFamily040 4,065,963 300,173 4,366,1362/14/14Country Village IIIVienna, JohnsonFamily024 2,439,578 180,104 2,619,6822/28/14Legends South C-3Chicago, CookFamily371 14,846,930 13,474,615 28,321,5453/31/14Buena Vista Tower fka KnollwoodApartmentsElgin, KaneFamily096 4,388,101 6,741,630 11,129,7314/9/14Sinai Village IIEast St. Louis, St. ClairFamily330 9,283,652 277,082 9,560,7344/9/14Laborers’ Home Development IVJacksonville, MorganElderly20100 7,306,489 1,194,685 8,501,1744/9/14Signature ApartmentsBradley, KankakeeFamily88 2,402,331 40,000 2,442,3314/9/14Water’s Edge of South ElginSouth Elgin, KaneFamily2550 15,555,089 1,056,262 16,611,3514/14/14Senior Suites of Bellwood, LLCBellwood, CookElderly2389 16,336,198 3,282,610 19,618,8084/17/14Kimball CourtHomewood, CookFamily1616 3,000,000 1,025,196 4,025,1964/25/14Parkside HomesAthens, MenardFamily433 7,211,339 603,031 7,814,3704/25/14Peoria Portfolio I - IVPeoria, PeoriaElderly0478 29,123,636 10,101,579 39,225,2155/30/14Highland Place Apartments ofCharlestonCharleston, ColesFamily1572 6,079,041 309,287 6,388,3286/12/14Mayslake Phase IIWestmont, DuPageElderly0249 8,406,777 21,744,506 30,151,2836/19/14Manor HomesRock Island, Rock IslandFamily655 8,554,535 4,266,595 12,821,1306/25/14Jefferson Square ApartmentsSullivan, MoultrieElderly020 1,086,572 1,012,395 2,098,9676/26/14Parkside Nine Phase 2BChicago, CookFamily0117 10,000,000 43,886,498 53,886,4986/27/14Prairie View ApartmentsBellwood, CookElderly084 2,231,496 6,192,959 8,424,4556/30/14Finley Supportive HousingLombard, DuPageFamily1212 2,824,253 852,050 3,676,3034373,795 395,803,228 230,796,755 626,599,983TOTAL4529

FY2014 HOMEOWNERSHIP ACTIVITYHOMEOWNERSHIP LOANS &MORTGAGE CREDIT CERTIFICATESRENOVATION LOANS &GRANTSDOWNPAYMENT & CLOSINGCOST ASSISTANCE# of HomesIHDA DollarsPurchase Price# of HomesIHDA Dollars# of HomesIHDA DollarsAdams9 850,072 909,90020 625,8006 31,670 1,507,542Bond4 328,687 364,00020 619,8005 50,000 998,487Boone48 4,111,368 4,484,0000 045 228,457 4,339,825Bureau5 334,891 363,50018 539,8003 22,010 896,701Cass1 147,589 156,9000 01 10,000 157,589165 16,120,134 18,537,5630 0151 1,271,127 17,391,26114 1,093,927 1,165,0004 168,0008 49,180 1,311,107ChampaignChristianClark1 57,551 65,0000 01 10,000 67,551Clinton8 794,986 857,1190 05 46,000 840,986Coles11 769,873 864,70013 450,75011 98,220 1,318,843Cook954 124,266,224 132,963,1010 0870 5,496,380 129,762,6041 68,242 77,4005 120,7501 10,000 198,992DeKalb18 2,242,734 2,364,0508 330,00016 106,579 2,679,313DeWitt3 218,838 230,5000 02 4,155 222,9934 358,244 401,0000 04 16,280 374,52493 12,919,341 13,717,3600 093 574,231 13,493,5721 70,002 70,0000 01 2,100 72,102Edwards0 0 012 289,8000 0 289,800Effingham2 142,182 166,5000 02 20,000 162,182Ford1 104,545 113,0000 01 10,000 114,545Franklin2 193,670 198,00012 289,8001 10,000 493,470Fulton5 374,661 410,3000 04 28,097 402,7581 77,000 85,3870 01 10,000 87,000 749,627CumberlandDouglasDuPageEdgarGallatinGrundy6 715,931 751,3500 06 33,696Hancock0 0 012 289,8000 0 289,800Henry6 563,084 598,0008 330,0004 28,100 921,184Iroquois1 40,500 48,0000 01 6,000 46,500Jackson4 328,394 370,5007 294,0001 10,000 632,394Jefferson17 1,271,143 1,311,5003 126,0006 48,550 1,445,6931 165,445 173,0000 01 10,000 175,4450 0 015 467,3500 0 467,3500 0 010 241,5000 0 241,50080 10,207,674 10,773,8099 217,35066 368,627 10,793,6519 966,068 1,024,20014 385,3507 55,780 1,407,19853 7,689,102 8,023,9700 050 311,953 8,001,0552 128,968 149,5004 168,0002 16,000 312,96821 1,330,187 1,480,4000 012 88,000 1,418,18746 5,594,375 6,100,3250 041 236,924 5,831,2999 801,184 885,0000 08 58,350 859,5340 07 45,695 402,2570 08 67,650 725,005JerseyJo e30TOTAL IHDADOLLARSLivingston7 356,562 413,600Logan9 657,355 728,000

HOMEOWNERSHIP LOANS &MORTGAGE CREDIT CERTIFICATESRENOVATION LOANS &GRANTSDOWNPAYMENT & CLOSINGCOST ASSISTANCE# of HomesIHDA DollarsPurchase Price# of HomesIHDA Dollars# of HomesIHDA Dollars103 7,410,915 8,232,7500 0102 567,103 7,978,0187 456,203 543,50018 595,3507 46,290 1,097,84377 6,030,766 6,620,1500 071 479,778 6,510,544Marion4 206,262 240,3750 03 18,096 224,358Marshall0 0 00 01 2,160 2,160Mason2 170,690 181,0004 139,1282 12,250 322,06859 7,083,113 7,619,8720 042 218,780 7,301,8939 217,350105 650,433 15,128,218MaconMacoupinMadisonMcHenryTOTAL IHDADOLLARSMcLean137 14,260,435 15,786,190Menard6 508,369 558,0000 06 47,020 555,389Mercer6 557,974 590,2909 217,3506 37,194 812,518Monroe2 287,363 309,00012 289,8002 20,000 597,163Montgomery1 136,018 135,0000 01 4,050 140,068Morgan8 690,272 737,7500 07 51,000 741,272Moultrie5 465,120 498,4000 05 37,152 502,2726 645,303 700,9500 03 22,000 667,303235 18,383,375 21,042,89515 467,350215 1,906,283 20,757,008Perry1 70,875 80,0000 01 10,000 80,875Piatt3 333,636 357,0000 02 12,070 345,706Pope0 0 03 126,0000 0 126,000Randolph4 256,153 295,2500 02 16,000 272,153Richland2 99,253 111,0000 02 11,680 110,93359 5,031,063 5,355,57225 675,15053 287,621 5,993,834217 18,941,715 20,649,8120 0206 1,285,545 20,227,2601 23,600 32,0000 01 10,000 33,6004 349,256 393,0000 02 20,000 369,256183 15,632,306 17,392,6809 217,350168 1,551,043 17,400,699Stark1 142,100 150,0000 00 0 142,100Stephenson3 118,650 145,0004 168,0002 16,000 302,650122 10,834,342 11,571,1910 0110 594,067 11,428,4090 0 03 126,0000 0 126,0005 215,627 238,5000 05 15,672 231,2990 01 10,000 141,550OglePeoriaRock IslandSangamonScottShelbySt. ClairTazewellUnionVermilionWarren1 131,550 140,000Washington1 105,095 117,0000 00 0 105,095Whiteside9 824,475 934,4006 250,0009 82,000 1,156,475230 26,813,857 29,137,5710 0212 1,586,717 28,400,574Williamson11 876,907 922,12015 469,3505 50,000 1,396,257Winnebago240 18,106,142 20,259,7418 336,000206 1,122,226 19,564,3685 477,249 539,0000 03 14,890 492,1390 0 070 3,330,0000 0 3,330,0003,382 353,136,762 384,012,392404 13,578,0283,020 20,304,930 387,019,720WillWoodfordStatewideTOTAL31

FINANCIAL STRENGTH THROUGH STABILITYA stable level of responsible lendingAs of June 30, 2014, IHDA had debt outstanding in the amount of 1.826 billion.2.5IHDA is a bonding authority and independently sells bonds and other debtinstruments to support our activities. Our financial strength enables us to accesscapital at a lower cost and transfer the savings to homeowners and developers in theform of lower interest rates.We successfully maintained strong ratings with issuer credit ratings of AA-, A1 andAA- from Standard & Poor’s (S&P), Moody’s Investors Service and Fitch Ratings,respectively.2BI L L I O N SFY2014 RESOURCES HIGHLIGHTS:MULTIFAMILYCONDUIT BONDSMULTIFAMILY PRIVATEPLACEMENT BONDS1.5MULTIFAMILYUNDERWRITTENBONDS1In addition, S&P and Moody’s affirmed their ratings on IHDA’s HomeownershipRevenue Bonds Indenture and the multifamily Housing Bonds Indenture.SINGLE FAMILYUNDERWRITTENBONDS0.5We issued 16.9 million in single family tax-exempt bonds to finance our first-timehomebuyer loan program.State Abandoned Properties Program Affordable Housing Tax Credits Affordable Housing Trust Fund Cook County Mortgage Foreclosure Mediation Program Foreclosure Prevention Program Foreclosure Prevention Program Graduated Fund Illinois Jobs Now! capital program Rental Housing Support programFederal CDBG IKE Hardest Hit Funds HOME Investment Partnerships Program Low–Income Housing Tax Credits Mortgage Credit Certificates National Foreclosure Mitigation Counseling Neighborhood Stabilization Program0FY2 011FY 201 2FY 201 3FY 201 4Debt IssuanceIHDA’s strong credit allows us to access the capital markets to support our lendingprograms. Enhanced analytical procedures have increased the efficacy of issuancereporting.350MULTIFAMILYCONDUIT BONDS300MULTIFAMILY PRIVATEPLACEMENT BONDS250MI LLI ONSOur state and federal resourcesState and federal resources allocated by IHDA also help us to finance qualityaffordable housing and avert home foreclosures across Illinois. In FY2014 theseresources included:MULTIFAMILYUNDERWRITTENBONDS200150SINGLE FAMILYUNDERWRITTENBONDS100500FY2 01132FY 201 2FY 201 3FY 201 4

MEMBERS OF THE AUTHORITYBOND UNDERWRITERSFINANCIAL INFORMATION REVIEWKaren Davis, Vice ChairmanMary Kane, TreasurerCristina CastroHarlan KarpWilliam MallerisMelody NortonDeborah TelmanSalvatore (Sam) TornatoreBarclays CapitalCastleOak SecuritiesCitigroup Global MarketsJanney Montgomery ScottJP Morgan SecuritiesLoop Capital MarketsMesirow Financial, Inc.Morgan StanleyPNC Capital MarketsRaymond JamesRBC Capital MarketsSamuel A. RamirezWells FargoIndependent accountants as special assistantauditors to the Auditor General of the State of Illinoishave performed a financial audit of the authority.Reports on the financials for the years ended June30, 2014, and supplementary financial reports forthe year have been prepared in accordance withthe Single Audit Act of 1984, as amended in 1996,and the Provisions of OMB Circular A-133, “Auditsof States, non-profits, and local organizations.” Theaudited FY2014 financial statements are available or in the Offices of the Auditor Generalin Chicago and Springfield, Illinois.EXECUTIVE STAFFMary R. Kenney, Executive DirectorBryan E. Zises, Assistant Executive Director/Chief ofStaffNandini Natarajan, Chief Financial OfficerKevin O’Connor, Chief Internal AuditorMaureen Ohle, General CounselMichele Williams, ControllerSENIOR STAFFMichelle Adams, Director of Administrative ServicesCami M. Freeman, Director of Marketing andCommunicationsTony Hernandez, Director of Asset ManagementJoseph McGavin, Director of Hardest Hit FundChristine Moran, Managing Director of MultifamilyProgramsNeil O’Callaghan, Managing Director of InformationTechnologyTara Pavlik, Director of Homeownership ProgramsNicki Pecori, Director of Community AffairsMichelle Pitre-Young, Director of Human ResourcesWilliam Pluta, Director of the Office of HousingCoordination ServicesAlan Quick, Director of Strategic Planning & ResearchPeggy Torrens, Managing Director of Loan andPortfolio ManagementNONDISCRIMINATION POLICYOUTSIDE LEGAL COUNSELDeutsch, Levy & Engel, CharteredHinshaw & Culbertson, LLPHolland & Knight LLPLaner, Muchin, Dombrow, Becker, Levin andTominberg, Ltd.Peterson, Johnson & Murray Chicago, LLCBOND COUNSELEdwards Wildman Palmer LLPFoley & Lardner, LLPIce Miller, LLPKutak Rock, LLPPeck, Schaffer & Williams, LLPINDEPENDENT AUDITORSKPMG LLPBOND TRUSTEEThe Bank of New York Mellon Trust Company, N.A.Pursuant to Title II of the Americans with DisabilitiesAct as amended (ADA) of 1990 (42 U.S. C. §§12101et seq.) and Section 504 of the Rehabilitation Actof 1973, as amended (Section 504) (29 U.S.C. §794)the Illinois Housing Development Authority (IHDA)does not discriminate against qualified individualswith disabilities in its policies, or in the admissionof, access to, treatment of or employment in itsprograms, federally assisted programs, services oractivities. IHDA will provide special communicationassistance to persons with vision and/or hearingimpairment. IHDA has designated the followingperson responsible for coordinating compliance withthe nondiscrimination requirements:Maureen OhleIllinois Housing Development Authority401 N. Michigan AvenueChicago, IL y:Will ByingtonPrinted by authority of the State of Illinois. January15, 2015. 1,500 copies printed. 871463-270/271.33

2 the power of housing 785 million in 7,600 units of affordable housing, generating an estimated 4,500