Lexington Farms (Jerseyville)
Lexington Farms (Jerseyville) from the Illinois Housing Development Authority funds research-driven affordable housing projects through innovative financing and rigorous project assessment.
Funder: Illinois Housing Development Authority
Due Dates: Rolling (Preliminary Project Assessment required before full application)
Funding Amounts: Low-interest rate construction and permanent loans; minimum $1 million per loan; bond financing available.
Summary: Supports the development and preservation of affordable housing in Illinois through low-cost mortgage and bond financing.
Key Information: Open to developers, lenders, municipalities, nonprofits, and community groups for eligible affordable housing projects.
Description
The Illinois Housing Development Authority (IHDA) offers the Lexington Farms (Jerseyville) financing initiative to foster the creation and preservation of affordable housing throughout Illinois. Through this program, IHDA provides access to a variety of first mortgage and bond financing options, including low-interest rate construction and permanent loans. The program streamlines the application process for developers, lenders, municipalities, local housing authorities, not-for-profits, and community groups, enabling them to efficiently deliver affordable housing solutions.
