IL HB5018

Creates Cook County Housing Trust Fund maintained by the Cook County Treasurer with the Housing Authority of Cook County as sole beneficiary

Fund receives moneys from State appropriations, loan repayments, and cash distributions from equity investments that may be redeposited for additional projects

Authorizes fund use for eligible projects including multi-family rental, single-family rental, and single-family for-sale housing

Permits fund spending on real property acquisition, new construction, rehabilitation, onsite/offsite improvements, developer fees, legal fees, operating costs, and capitalized reserves

Allows Housing Authority to use funds for equity investments in project owners, loans with terms up to 40 years, and direct land acquisition for lease to project owners