JERSEYVILLE – The Illinois Housing Development Authority (IHDA) today celebrated a groundbreaking ceremony for 32 single-family affordable rental homes which will use solar and wind power to reduce energy bills. The development, known as Lexington Farms Subdivision in Jerseyville, will house qualified working families. An estimated 81 jobs will be created.

IHDA invested more than $2.5 million to build Lexington Farms, providing federal American Recovery and Reinvestment Act (ARRA) funds and federal Low-Income Housing Tax Credits to finance the development located at Fairgrounds and Cemetery avenues. The federal tax credits, which were a result of a special allocation for counties hit by severe flooding, generated an additional $6.7 million in private equity for the development. On behalf of the administration of Governor Pat Quinn, IHDA has invested federal stimulus funds to jumpstart construction on nearly 2,500 affordable rental homes, creating an estimated 3,000 jobs in Illinois.(continue)