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FIVE YEAR SUPPORTIVE HOUSING PLAN <br /> FINAL REPORT <br /> Additionally, the administration's proposed FY2006 federal budget cails for the <br /> elimination of all funding for the development of new permanent supportive housing <br /> under HUD's Section 811 Supportive Housing for Persons with Disabilities program. <br /> Previously, this source had been identified to create supportive living apartments under <br /> the proposed plan. <br /> Other Funding Sources. Given reductions in federal funding levels for permanent <br /> supportive housing, it is essential that the $500,000 in HOME funds awarded to the City <br /> of Decatur be leveraged with other public and private dollars to increase overall <br /> production. Table 8 provides a summary of state, local, and private financing resources <br /> that can be used in conjunction with HOME for construction and permanent financing. <br /> Table 5: Summary of Financing Sources �', <br /> Type of Maximum ' <br /> Funding Source Funding Program Funds Amount <br /> Decatur Community Loan Varies <br /> Development Foundation <br /> Illinois Housing Development Trust Fund Loan or $750,000 per <br /> Authority Grant project <br /> Federal Home Loan Bank Affordable Housing Grant $600,000 <br /> Program <br /> Department of Commerce and Energy Grant Grant $2.50-2.75 <br /> Economic Opportunity per square <br /> foot <br /> Illinois Housing Development Donation Tax Credits Equity Varies <br /> Authority <br /> Illinois Housing Development Low Income Housing Equity Varies <br /> Authority Tax Credits <br /> Financing Considerations. The financing for each proposed development must <br /> address two critical issues—the limited availability of development subsidies and long <br /> term operating subsidies. In response to these concerns, funding will be structured, to <br /> PAGE 34 <br />� <br />