Central and Southern Illinois are deeply familiar with the growing need for affordable housing. Across the state, more than 289,000 affordable rental homes are needed to meet the needs of our lowest-income residents.
This isn’t just a challenge for the families directly affected — it’s a burden on our entire state. When households are forced to spend a disproportionate share of their income on rent, they have less to contribute to local businesses and economic growth. At the same time, housing instability drives up demand for public services—from healthcare to social support—placing additional strain on already limited resources.
Addressing the housing crisis is not just a moral imperative — it’s a smart investment in the economic and social well-being of Illinois.
At Innovative Development Partners, we believe the solution to Illinois’ housing crisis is clear: we must build more affordable homes. But to do that, we need the right tools in place — and the Build Illinois Homes Tax Credit (House Bill 1147/Senate Bill 62) is exactly that.
This proven, bipartisan initiative is already working in more than 25 states, directing private investment into local communities and helping create high-quality, affordable housing — all without requiring upfront state funding.
Our team has a track record of delivering impactful housing solutions across Central and Southern Illinois. Recently, we submitted an application to build 56 affordable apartments in Casey, transforming previously vacant farmland into a vibrant residential community — with full support from the City Council.
The demand for workforce and family housing continues to grow. While we’re pursuing competitive federal tax credits to bring this project to life, we know additional financing is critical. If the Build Illinois Homes Tax Credit were in place, we could accelerate financial closing, break ground sooner and begin delivering stable housing to those who need it most.
We also finished construction on the Commons of Mattoon last fall, a supportive housing development that created 25 affordable homes. The new property brought workers to Mattoon that contributed to the local economy. This development as well as the one in Casey are excellent examples of how the Build Illinois Homes tax credit program could address the crisis of affordable housing in the state.
One of the greatest strengths of this tax credit model is its "pay-for-success" approach. The state does not spend a dime until developments are completed and residents have moved in. This minimizes taxpayer risk while maximizing public benefit, delivering desperately needed affordable housing, creating jobs and stimulating economic growth with no immediate fiscal impact.
Across the state, families and individuals struggle to afford homes where they work. Municipalities miss out when workers leave, seeking more affordable places to live. Businesses struggle to find workers or make sales, and economies cannot survive the instability. If we act now, we can create a stronger, more resilient Illinois where families have the security of a home, businesses have the workforce they need, and communities thrive. The cost of inaction is far greater than the investment needed to solve this crisis.
The Build Illinois Homes Tax Credit is a smart, common-sense step toward ensuring our state’s future that leverages private investment. It will help affordable developments cross the finish line and bring urgently needed homes to Illinois communities. We urge lawmakers to pass HB 1147/SB 62 and take decisive action to address our housing crisis. The time to act is now.
Jeremy Yost is managing partner for Innovative Development Partners
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