New incentive added: Revitalization areas

Chicago Cityscape added Revitalization Areas across Illinois. The Illinois Housing Development Authority designates these areas for the convenience of affordable housing developers who are applying to the authority for Low Income Housing Tax Credits. 

If a proposed development is in a "revitalization area", IHDA will prioritize that application for the limited amount of LIHTC. According to IHDA, the revitalization areas "demonstrate the most salient market conditions suggesting that revitalization, or concerted community development planning, would be especially beneficial within these communities."

screenshot of Incentives Checker showing that the address that was looked up is in a "high" revitalization impact area.

Applicants should load Chicago Cityscape's Incentives Checker in any Address Snapshot lookup in Illinois to see if the location is in an revitalization area. Then the applicant can indicate that status in their application's Community Revitalization Scoring Criteria. 

This brings the number of financial & development incentives up to 32. Review the full list.