Illinois Compiled Statutes 20 Executive Branch: Article -

• Illinois Housing Development Act. - 20 ILCS 3805, Section 1
  This Act shall be known and may be cited as the Illinois Housing Development Act. (Source: Laws 1967, p. 1931.)
• Illinois Housing Development Act. - 20 ILCS 3805, Section 2
  As used in this Act: (a) "Authority" means the Illinois Housing Development Authority created in this Act. (b) "Development costs" means the costs approved by...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 3
  It is hereby found and declared that as a result of public actions involving highways, public facilities and urban renewal projects and as a...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 4
  There is hereby created a body politic and corporate to be known as the Illinois Housing Development Authority. The Authority shall consist of 9...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 4.1
  (a) No member of the Authority or officer, agent or employee thereof shall, in his or her own name or in the name of...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 5
  The Governor shall designate the Chairman, from time to time, and the Authority shall annually elect from its membership a vice chairman a treasurer, and...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 6
  Five members of the Authority shall constitute a quorum at any meeting of the Authority and the affirmative vote of 5 members shall be...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 7
  The Authority may exercise the powers set forth in the following Sections preceding Section 8. (Source: P.A. 96-1000, eff. 7-2-10.)
• Illinois Housing Development Act. - 20 ILCS 3805, Section 7.1
  The Authority may make non-interest bearing advances to nonprofit corporations for constructing or rehabilitating developments designed and planned to make housing available at low...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 7.2
  The Authority may make mortgage or other loans to non-profit corporations and limited-profit entities for the acquisition, construction or substantial or moderate rehabilitation of...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 7.3
  The Authority may undertake and carry out studies and analyses of housing needs within the State and study ways of meeting such needs. (Source:...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 7.4
  The Authority may collect fees and charges in connection with its loans, commitments and servicing; and may provide technical assistance in the development of...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 7.5
  The Authority may encourage research in demonstration projects to develop new and better techniques and methods for increasing the quality and supply of housing...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 7.6
  The Authority may adopt by-laws for the regulation of its affairs and the conduct of its business. (Source: P.A. 76-1175.)
• Illinois Housing Development Act. - 20 ILCS 3805, Section 7.7
  The Authority may adopt an official seal. (Source: P.A. 76-1175.)
• Illinois Housing Development Act. - 20 ILCS 3805, Section 7.8
  The Authority may sue and be sued in its own name. Upon application to a court of proper jurisdiction, injunctive relief shall issue in...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 7.9
  The Authority may make and execute contracts and all other instruments necessary or convenient for the exercise of its power and functions. (Source: P.A.
• Illinois Housing Development Act. - 20 ILCS 3805, Section 7.10
  The Authority may acquire, hold and dispose of personal property for its corporate purposes. (Source: P.A. 76-1175.)
• Illinois Housing Development Act. - 20 ILCS 3805, Section 7.11
  The Authority may enter into agreements or other transactions with any federal, or State or local governmental agency. (Source: P.A. 76-1175.)
• Illinois Housing Development Act. - 20 ILCS 3805, Section 7.12
  The Authority may acquire real property, or any interest therein, by purchase, foreclosure or otherwise; own, manage, operate, hold, clear, improve and rehabilitate such...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 7.13
  The Authority may invest any funds in mortgage participation certificates representing undivided interests in specified, first-lien conventional residential Illinois mortgages which are underwritten, insured,...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 7.14
  The Authority may borrow money and issue its negotiable notes and bonds and secure the payment thereof by, among other things, the pledge, or...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 7.15
  The Authority may employ agents, employees, professional and business advisers as may from time to time be necessary in its judgment and fix their...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 7.16
  Subject to its covenants with its noteholders and bondholders, the Authority may sell at public or private sale, any mortgage or other obligation held...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 7.17
  The Authority may procure insurance against any loss in connection with its property in such amounts, and from such insurers, as may be necessary...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 7.18
  The Authority may consent, whenever it deems it necessary or desirable in the fulfillment of the purposes of this Act, to the modification, with...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 7.19
  The Authority may make and publish rules and regulations respecting the grant of loans under this Act and the regulation of borrowers, and such...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 7.20
  The Authority may accept gifts or grants or loans of funds or property or financial or other aid from any federal or state agency...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 7.21
  The Authority may make grants to nonprofit corporations for operating, administrative and other expenses of planning, constructing, rehabilitating and operating developments under assisted or...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 7.22
  The Authority may act as the State land development agency in the carrying out of new community development programs and may issue notes and...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 7.22a
  The Authority may act as a developer of land or structures to provide developments, community facilities or housing related commercial facilities. For that purpose...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 7.23
  (a) The Authority may acquire, and contract and enter into advance commitments to acquire, residential mortgages owned by lending institutions at purchase prices and...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 7.24
  (a) The Authority may make loans to lending institutions under terms and conditions which, in addition to other provisions as determined by the Authority,...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 7.24a
  (a) The Authority may make, purchase, or participate in loans, grants, or deferred payment loans to persons and families of low and moderate income...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 7.24b
  The Authority shall prescribe by rule for notification to affected parties and the A-95 agencies prior to any commitment on any development. The Authority...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 7.24c
  The Authority may, in instances in which it determines that it is necessary or desirable in order to carry out its purposes under this...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 7.24d
  The Authority may issue or provide for the issuance of trust certificates or other obligations secured by or representing ownership in residential mortgages, may...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 7.24e
  (a) Not later than January 1, 1986, the Authority shall establish rules and regulations governing minimum energy efficiency standards in developments financed by the...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 7.24f
  The Authority may issue bonds or notes in an aggregate amount not to exceed $1,000,000 per year in each of fiscal years 1986, 1987,...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 7.24g
  (a) The Authority is hereby designated the State Housing Credit Agency and is charged with responsibility for administering low-income housing tax credits allocated to...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 7.24h
  The Authority may use its administrative funds for loans or grants to finance the cost of rehabilitating housing units for the homeless mentally ill....
• Illinois Housing Development Act. - 20 ILCS 3805, Section 7.25
  The Authority may do any and all things necessary or convenient to carry out its purposes and exercise the powers, either separately or jointly,...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 7.26
  In connection with the acquisition or carrying of the Authority's investments, in connection with issuances by the Authority of its bonds and notes for...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 7.27
  The Authority may offer non-recourse reverse mortgage loans to qualified borrowers with the same restrictions and requirements as prescribed in Section 6.1 of the...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 7.28
  Tax credit for donation to sponsors. The Authority may administer and adopt rules for an affordable housing tax donation credit program to provide tax...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 7.29
  National Guard and Reservist homebuyer assistance. (a) Subject to appropriation, the Authority shall establish and administer a guardsman and reservist homebuyer assistance program. Under the...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 7.30
  Foreclosure Prevention Program. (a) The Authority shall establish and administer a Foreclosure Prevention Program. The Authority shall use moneys in the Foreclosure Prevention Program Fund,...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 7.31
  Abandoned Residential Property Municipality Relief Program. (a) The Authority shall establish and administer an Abandoned Residential Property Municipality Relief Program. The Authority shall use moneys...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 8
  The Authority may, pursuant to its rules or regulations, or pursuant to agreements with persons to whom it makes mortgage or other loans, provide for...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 8.1
  With respect to mortgage loans for developments financed by the issuance of the Authority's bonds and notes and not covered under the Low-Income Housing...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 9
  The ratio of loan to development cost and the amortization period of loans made by the Authority shall be determined in accordance with regulations...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 10
  The Authority shall approve a tenant selection plan submitted by the applicant for the loan prior to disbursing any funds in connection with the acquisition,...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 11
  Among low or moderate income persons and families, preference for occupancy in a development financed under the Act shall be given to those persons...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 12
  In order to encourage developments which are not economically homogeneous and to achieve rent charges which will make units available to persons and families...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 13
  The Authority shall require that occupancy of all housing financed or otherwise assisted under this Act be open to all persons regardless of race,...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 14
  The Authority may from time to time issue its negotiable bonds and notes in such principal amount, as, in the opinion of the Authority,...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 14.1
  The Authority may issue to persons acquiring, improving or rehabilitating residences in Illinois mortgage credit certificates (or such other arrangements by which entities authorized...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 15
  The Authority may from time to time, issue renewal notes, issue bonds to pay such notes, and whenever it deems refunding expedient, refund any...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 16
  The notes and bonds issued under this Act shall be authorized by resolution of the members of the Authority, shall bear such date or...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 17
  A resolution of the Authority authorizing the issuance of any notes or bonds or any issue thereof under this Act may provide for: (a)...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 18
  No member of the Authority or any authorized person executing the notes or bonds shall be liable personally on the notes or bonds or...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 19
  The Authority, subject to the terms of any agreements with noteholders or bondholders as may then exist, shall have power out of any funds...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 20
  The State shall not be liable on notes or bonds of the Authority and such bonds and notes shall not be a debt of...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 21
  The Authority shall create and establish a special fund to secure the Housing Development Bonds issued under this Act. The fund shall be designated...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 22
  (a) The Authority shall not have outstanding at any one time bonds and notes for any of its corporate purposes in an aggregate principal...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 23
  In computing the amount of the capital reserve fund for the purposes of this Act, securities in which all or a portion of the...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 23a
  The Authority may create and establish one or more special funds (herein referred to as "debt service reserve funds"), and shall pay into each...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 24
  The Authority shall create and establish such other funds or accounts as may be necessary or desirable for its corporate purposes. (Source: P.A. 78-1074.)
• Illinois Housing Development Act. - 20 ILCS 3805, Section 25
  If the Authority defaults in the payment of principal or interest on any issue of notes or bonds after the same shall become due,...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 26
  The trustee appointed pursuant to Section 25 may, and upon written request of the holders of 25% in principal amount of such notes or...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 26.1
  In the event that the Authority determines that monies of the Authority will not be sufficient for the payment of the principal of and...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 27
  In addition to the powers granted in Sections 25 and 26, the trustee shall have and possess all of the powers necessary or appropriate...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 28
  The venue of any action or proceeding brought by the trustees under Sections 25, 26 and 27, shall be in Sangamon County. Before declaring...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 29
  The notes and bonds of the Authority are securities in which all public officers and bodies of this State and all municipalities and municipal...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 30
  The property of the Authority and its income and operation shall be exempt from taxation. (Source: P.A. 76-1175.)
• Illinois Housing Development Act. - 20 ILCS 3805, Section 31
  The creation of the Authority is in all respects for the benefit of the people of Illinois and for the improvement of their health,...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 32
  The Authority is authorized to provide to nonprofit corporations, housing corporations and limited-profit entities such advisory, consultative training and educational services as will assist...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 33
  The provisions of this Act are severable, and if any of its provisions shall be held unconstitutional by any court of competent jurisdiction, the...
• Illinois Housing Development Act. - 20 ILCS 3805, Section 34
  This Act is necessary for the welfare of the State and its inhabitants; therefore it shall be liberally construed to effect its purposes. (Source:...

Last modified: February 18, 2015