IHFA Funding Sources
Funding for Operational Expenses
IHFA is a not-for-profit, self-supporting
corporation that must generate all revenue necessary to cover the
cost of its operations. IHFA supports its operations by earning fees
for work performed.
The fees earned by IHFA come from various sources
including: fees from the U.S.
Department of Housing and Urban Development for administering
federal housing programs, fees for originating and servicing
mortgage loans and fees for administering outstanding bonds.
IHFA does not use any state-appropriated funds for
its operations. IHFA employees are not state employees. They fall
under a private salary administration plan, personnel policy and
retirement system.
Funding for IHFA Programs
The funding sources for IHFA programs are numerous.
They include funds derived from the sale of tax-exempt mortgage
revenue bonds, federal housing funds provided through the HOME
Program, the Low-Income
Housing Tax Credit Program, the Stewart B. McKinney Homeless
Assistance Act, Section
8 Rental Assistance contracts and funds provided by private
investors.
