Supportive housing efforts in Illinois have received a $50 million boost from state lawmakers.
Gov. Pat Quinn recently signed House Bill 5450, which makes $10 million in rental housing subsidies available over 15 years to eligible landlords.
The bill enables grant funding to be designated for people with disabilities under the Rental Housing Support Program, one of the nation’s largest state rental assistance programs.
With the new law, landlords providing supportive housing units may apply for subsidies under the Long Term Operating Support (LTOS) portion of the rental support program, which is administered by the Illinois Housing Development Authority (IHDA). LTOS is funded through a $10 fee collected from real estate document recordings, and the new round of funding will help an estimated 150 households headed by a person with a disability.
In addition, Quinn announced the commitment of up to $40 million in Illinois Jobs Now! capital funds for developers of permanent supportive housing.
This is expected to spur the development of approximately 200 supportive housing units through a new round of the state’s Permanent Supportive Housing Development Program (PSH).
Together, the two moves will significantly increase opportunities for people with disabilities to access affordable rental housing, say state officials.
Quinn also signed House Bill 4521, which raises fees for mortgage company licensees and increases fines penalizing mortgage fraud to better protect homeowners, according to state officials.
Applications for the LTOS and PSH programs are available through IHDA at www.ihda.org.