The Illinois Housing Development Authority (IHDA) has announced that it will extend its Multi-Family Initiative Bond program through 2011, providing low-cost fixed-rate permanent financing which will provide resources to borrowers to finance new construction, acquisition and rehabilitation or adaptive reuse of existing developments. The program will offer tax-exempt financing with a pre-determined fixed rate of interest for developments financed by bonds that will close by December 15, 2011. IHDA has made available a terms sheet that provides additional details about the program. Read More…