Illinois Administrative Code

Section 302.203 Maximum Grant Amount Disbursements to Eligible Servicers may include up to three prospective monthly payments if funds are available and the total funding amount does not exceed Maximum Grant Amount.

Section 302.204 Administration of Program The Authority will establish procedures to administer the HAF program, including application process and review that will include the following: a) applications will be taken via an online application platform; processing staff will revie…

Section 302.205 Procedures for Deficient Applications The Authority will establish procedures to notify Applicants who submit defective or deficient applications that will include the following: a) Applicants will be notified via email of any information needed to complete an app…

Section 302.301 Foreclosure Moratorium a) Prior to receiving HAF Grants on behalf of an Eligible Homeowner, Eligible Servicers must agree they will forgo any right to commence or continue a foreclosure action, or other similar legal action, including but not limited to breach of …

Section 302.302 Distribution of Grants a) HAF Grants made by the Authority may cover all or any portion of the Eligibility Period. b) When making HAF Grant payments to an Eligible Servicer on behalf of an Eligible Homeowner, the Authority must include a statement indicating which…

Section 302.401 Purpose Subject to the terms of the agreement executed by the HSS Provider and the Authority, HSS Sub-Awards allocated to an HSS Provider are for the provision of HSS outreach and intake services, as described in this Part, and the purchase of HSS equipment.

Section 302.402 Request for Proposals/Applications The Authority may issue one or more requests for proposals for applications for an HSS Sub-Award from prospective HSS Providers.

Section 302.403 HSS Provider Eligibility. HSS Providers may be HUD approved counseling agencies, community or faith-based organizations, non-profit organizations, including legal assistance groups, and such other community organizations that specialize in housing or community out…

Section 302.404 Eligible Uses of an HSS Sub-Award Funds from an HSS Sub-Award may be used for the following: a) HSS Marketing and Outreach; b) HSS Education and Intake; or c) HSS Equipment.

Section 302.405 Application Requirements Each application for an HSS Sub-Award shall include the information required by the Authority to promote efficient program administration and quality of performance

Section 302.406 Distribution of HSS Provider Sub-Awards Once approved for an HSS Sub-Award, HSS Providers will be eligible to receive an initial disbursement in an amount established by the Authority. An accounting of expenses will be required to demonstrate use of the HSS Sub-Aw…

Section 310.1001 Conduit Bonds From time to time, the Authority may issue Conduit Bonds to obtain financing for a Conduit Loan for a Development. This Subpart governs the making of Conduit Loans. (Source: Added at 31 Ill. Reg. 4392, effective February 28, 2007)

Section 310.1002 Applications Applicants for a Conduit Loan must apply to the Authority in the same manner as all other applicants for Mortgage Loans, and must adhere to the notification requirements of Subpart B. (Source: Added at 31 Ill. Reg. 4392, effective February 28, 2007)

Section 310.1003 Eligible Mortgagor The recipient of a Conduit Loan must be an Eligible Mortgagor. (Source: Added at 31 Ill. Reg. 4392, effective February 28, 2007)

Section 310.1004 Regulatory Agreement Each recipient of a Conduit Loan shall enter into a Regulatory Agreement with the Authority. (Source: Added at 31 Ill. Reg. 4392, effective February 28, 2007)

Section 310.1005 Applicable Rules All provisions of this Part shall apply to Conduit Loans, except the following: Section 310.404, Section 310.405, Section 310.601 and Section 310.602. (Source: Added at 31 Ill. Reg. 4392, effective February 28, 2007)

Section 310.101 Authority The Rules in this Part are authorized by and made pursuant to Sections 7.2, 7.19, 7.24b, 7.24e, 8, 9, 10, 11, 12 and 14 of the Act and shall govern the Program. (Source: Amended at 31 Ill. Reg. 4392, effective February 28, 2007)

Section 310.102 Purpose and Objectives The Rules in this Part are established to accomplish the general purposes of the Act and in particular the making of Mortgage Loans for the construction or rehabilitation of multifamily rental housing in accordance with the Program. (Source:…

Section 310.103 Definitions As used in this Part, the following words or terms mean: "Act": The Illinois Housing Development Act [20 ILCS 3805]. "Application": An application for a Mortgage Loan for a proposed Development. "Authority": The Illinois Housing Development Authority. …

Section 310.104 Borrowing by the Authority To the extent allowed by applicable federal law and the Act, the Authority may borrow funds with which to make Mortgage Loans under the Program.

Section 310.105 Compliance with Federal Law Notwithstanding anything herein to the contrary, this Part shall be construed in conformity and compliance with applicable federal law, including, without limitation, the Code and the federal regulations governing the HOME Program and R…

Section 310.106 Standards In administering the Program, the Authority, the Chairman, the Director, and the Staff shall in the exercise of discretion consider, in addition to the criteria specifically set forth in this Part, the purposes of the Program to provide decent, safe, and…

Section 310.107 Forms and Procedures for the Program The staff may prepare, use, supplement and amend such forms, agreements and other documents and such procedures as may be necessary to implement the Program, all as may be prescribed by the Director. (Source: Amended at 16 Ill.…

Section 310.108 Fees and Charges of the Authority In connection with the Program, the Authority may establish and collect such fees and charges as may be necessary. Such fees and charges may be used by the Authority for its general corporate purposes, including costs of administe…

Section 310.109 Waiver (Repealed) (Source: Repealed at 22 Ill. Reg. 3854, effective February 4, 1998)

Section 310.110 Amendment This Part may be supplemented, amended or repealed by the Members from time to time and in such manner as they may determine consistent with the Rules, the Act and other applicable provisions of law. This Part shall not constitute or create any contractu…

Section 310.111 Severability If any clause, sentence, paragraph, subsection, Section, or Subpart of this Part be adjudged by any court of competent jurisdiction to be invalid, such judgment shall not affect, impair or invalidate the remainder thereof, but shall be confined in its…

Section 310.112 Gender and Number All terms used in any one gender or number shall be construed to include any other gender or number as the context may require.

Section 310.113 Titles and Captions Titles and captions of Subparts, Sections and subsections are used for convenience and reference and are not a part of the text. (Source: Amended at 16 Ill. Reg. 10248, effective June 16, 1992)

Section 310.114 Calendar Days Days shall mean calendar days. Days falling on a Saturday, Sunday or legal State or federal holiday shall be deemed to fall on the next calendar day that is not Saturday, Sunday or a legal State or federal holiday. (Source: Amended at 16 Ill. Reg. 10…

Section 310.201 Applicability and Purpose of Notification a) Purpose This Subpart is established to provide for notification to certain persons and agencies pursuant to Section 7.24b of the Act that a developer proposes to construct or rehabilitate a Development in their district…

Section 310.202 Notification by Authority a) Notice of Development When the Authority accepts an Application for a Mortgage Loan for a proposed Development, the Authority shall give written notice of the proposed Development to the following persons and agencies: 1) the chairman …

Section 310.203 Comments and Responses a) Comments The persons and agencies receiving notice of a proposed Development pursuant to Section 310.202 shall have 30 days from the date of mailing of the notice to submit written comments to the developer or the Authority. b) Developer'…

Section 310.204 Submissions to the Authority a) Documents The developer shall submit to the Authority the following documents in connection with the proposed Development: 1) a copy of every written comment and a written summary of every oral comment received pursuant to Section 3…

Section 310.205 Hearings The developer shall provide written notice to the Authority of any public or adjudicatory hearing that may be held in connection with the proposed Development. The developer shall mail the notice to the Authority within 2 days after receiving notice or ot…

Section 310.206 Notice of Issuance of Conditional Commitment Letter (Repealed) (Source: Repealed at 31 Ill. Reg. 4392, effective February 28, 2007) SUBPART C: OWNER

Section 310.301 Eligible Mortgagors The Authority may make Mortgage Loans under the Program to Eligible Mortgagors. The Owner of the Development shall at all times be an Eligible Mortgagor. If the Authority learns that an Owner is not an Eligible Mortgagor, then the Authority sha…

Section 310.302 Land Trusts Whenever Real Estate or a Development is held in an Illinois land trust, the agreement creating the Trust and establishing the respective rights, powers, and duties of the Trustee and Owner shall be in a format approved by the Authority. The format sha…

Section 310.303 Organizational Documents The organizational documents of a joint venture, partnership, limited partnership, limited liability company or corporation shall contain provisions to qualify and maintain the Owner as a Limited-Profit Entity or Nonprofit Corporation, as …

Section 310.304 Books and Records The books and records of the Development shall be prepared and maintained in accordance with Authority requirements and shall be subject to inspection, examination and copying by the Authority and its authorized representatives or agents at such …

Section 310.305 Audits The Development and the offices, architectural plans and specifications, apparatuses, books and records, contracts, documents and other papers relating to the development shall at all times be maintained in reasonable condition for proper audit and shall be…

Section 310.306 Annual Financial Report Within 90 days after the end of a Development's fiscal year, the Owner shall be required to furnish the Authority with a complete annual financial report based upon the books and records of the Development and the Owner, prepared in accorda…

Section 310.307 Furnishing Information The Owner shall furnish such reports, projections, certifications, analyses and tax returns as required by applicable federal or State statutes, regulations or subsidy or assistance programs or by the Authority and shall furnish specific ans…

Section 310.308 Purchase of Authority Bonds and Notes No Owner, including any "related person," as defined in Section 103(b)(6)(C) of the Internal Revenue Code of 1954 as amended from time to time, shall pursuant to any arrangement, formal or informal, direct or indirect, agree t…

Section 310.309 Standards for Approval of Conveyance and Amendment of Documents In determining whether to approve and/or impose restrictions on the conveyance, assignment, leasing, mortgaging, pledging or other transfer of all or any part of the Development, or any partnership in…

Section 310.401 Maximum Mortgage Loan Amount a) Establishing Amount. The maximum Mortgage Loan amount available to an Owner that is a Limited-Profit Entity is 90% of the Cost of Development, as determined and approved by the Authority in its sole discretion. The maximum Mortgage …

Section 310.402 Term of Mortgage Loans The maximum term of a Mortgage Loan to be made by the Authority shall not exceed 65 years and may be shorter at the sole discretion of the Authority. In determining the term of a Mortgage Loan, the Authority shall take into account its abili…