All Forum Posts by: Jerry N.

@Tom Shallcross Thanks very much.  This is one of the programs that we were wondering about, the other is with federal income tax credits that are worth more and typically get syndicated.  All information is good though with where we are starting.  Will be in touch!

Thanks @Christopher S.

@Christopher S. Thank you.  We've put in a call to IHDA and filled out the online contact inquiry and haven't been contacted yet.  Think the spend makes sense only for the 9% considering the then rent and tenant constraints. The preliminary application (preapproval necessary) itself is pretty onerous and the deadline for 2024 eligibility is fast approaching which is why we were hoping to talk to someone with current experience as a bit of a sounding board.  Are you involved with any of these projects, as an owner or investor?  Happy to take the conversation off the forum if you have time/interest.

IHDA is the organization that manages the federal program for Illinois, along with whatever else they do.  Cook County has some programs as well.

https://www.taxpolicycenter.org/briefing-book/what-low-incom...

https://www.ihda.org/developers/tax-credits/illinois-afforda..

https://www.ihda.org/developers/tax-credits/low-income-tax-c...

https://www.cookcountyassessor.com/affordable-housing

https://www.huduser.gov/portal/datasets/lihtc.html

Can't speak to the specifics as to how the program currently works. My experience with the federal program goes back to the 90s and early 2000s. Haven't participated in the Cook County renovation program previously. I also can't speak to how it works in Chicago. My questions are about a suburban property, but I know that HUD has something to do with it in Chicago.

@Jonathan Klemm For this particular program, to qualify for the tax credits, a certain amount of renovation money needs to be spent in specific areas or on certain capital improvements.  It is different if there is a new building purchase/acquisition or build.  These tax credits are different than the historic preservation tax credits.

Hello,  Any private owners on here have personal experience with renovation spend and then qualifying for IHDA tax credits?  This is in Cook County, not the city, but it doesn't seem like there is an Illinois specific forum anymore.  Please comment or message.  Looking to hopefully talk with owners specifically and then eventually accountants and lawyers.  ~ Have some experience with this but quite a number of years ago and not as part of the feasibility analysis.  If there are any other forums where this might have a better audience, please also recommend.

Thanks for reading.

Thanks everyone for the responses.  To be accurate, the insurance does not allow for animals, mis-type citing pets. 

@Crystal Smith I thought that you couldn't charge fees in these situations.  Understand that the client didn't need the back up plan, but how could that have worked?

Anyone have experience with emotional service animal requests when your insurance doesn't allow for pets?  Cook County, not Chicago.  Wondering how denials have been handled and I think the rules have changed in the forums so I don't think I can post requesting lawyer recs, but happy to get DMs.

Thanks for reading.

With the new forums format, is there a files location?  Brie Schmidt usually posts it every year.  

Looking for information on systems or electricians for installation on a flat roof.  The building didn't have issues until we altered the porch in 2020.  The structural change, combined with all the snow and weather last winter, we had an issue for the first time. The longer term reviews on the big box store coils doesn't seem worth it.  Please post or message if you have a system in place or if you have someone to recommend.  

Thanks for reading.