Veterans to get new affordable housing options in Collinsville through state funding
The Illinois Housing Development Authority has dedicated nearly $43 million to create permanent supportive housing for vulnerable populations in the state. It’s the sixth time the state has funded such projects.
The money will help create, rehab or restore 172 affordable housing units for low-income individuals or families and other groups, said Christine Moran, IDHA’s director of multifamily financing.
Collinsville will see 22 of those approved units to serve veterans in the area. Officials from the Madison County Housing Authority did not return a request for comment.
“We’re serving our most vulnerable populations,” Moran said. “Homeless, at risk of homelessness, persons with disabilities. It’s just giving those folks an opportunity to have safe, decent affordable housing.”
The expansion builds on the 600 housing units that were preserved in previous funding rounds from the state.
“Housing is the benchmark for stability,” she said. “Having a place to go home to every night is really important in the success of people’s lives.”
The program combines permanent and affordable housing with local services. In Collinsville, residents will have access to Chestnut Health Systems and the Veterans Assistance Commission of Madison County.
“Everyone deserves equitable access to housing, healthcare and the support networks they need to live successful lives that are integrated in the community,” said IHDA Executive Director Kristin Faust in a statement. “Supportive housing is a cost-effective solution that ensures our most vulnerable residents live with stability and autonomy.”
The state sought smaller developments for this round of funding because those kinds of projects are difficult to finance through Illinois’ low-income housing tax credit program, Moran said.
“It’s been demonstrated projects with less than 25 units are not really appropriate for financing based on the cost and complexity with the tax credit program,” she said.
Most of the 172 units will be filled by the housing development authority’s statewide referral network, which connects vulnerable populations to available supportive housing.
At least a quarter of the housing units recently approved by the state must be filled by people in the referral network, Moran said.
