Section 355.403  Employer-Assisted Housing Projects

An Agency may make Allocations for Employer-Assisted Housing Projects.  $2,000,000 of the Affordable Housing Tax Credit Ceiling for a State fiscal year shall be reserved for Employer-Assisted Housing Projects.  Of this ceiling, 24.5% shall be available for allocation by the City of Chicago and 75.5% shall be available for allocation by the Authority. If those funds are not reserved for Employer-Assisted Housing Projects by March 31 of that State fiscal year, the funds shall be available for Reservation and Allocation for Affordable Housing Projects, Technical Assistance or General Operating Support.

(Source:  Amended at 34 Ill. Reg. 15822, effective September 28, 2010)