Since our creation in January 2004, the Illinois Finance Authority (the “Authority” or “IFA”) has provided access to low-cost capital to public and private institutions that are aligned with our mission of fostering economic development, creating and retaining jobs, and improving quality of life for Illinois residents. To date, our conduit financing programs have spanned every county and helped capitalize thousands of projects, assisting farmers and agri-businesses, business and industry, school districts and higher education institutions, healthcare facilities, cultural and social entities, and local governments develop, upgrade, expand, and sustain their operations and services.
IFA is a body politic and corporate created by State statute through the consolidation and elimination of seven State authorities and entities. We are authorized by the Illinois Finance Authority Act to issue tax-exempt and taxable bonds and to make and guarantee non-conventional loans. We do not receive appropriated funding from the State and operate at no cost to the taxpayer.
Governing the IFA is a fifteen-member, non-paid Board appointed by the Governor and confirmed by the Senate. Leading the IFA team is the Executive Director, who is nominated by the Governor and appointed by the Board. The Board of Directors, the Executive Director and the IFA staff offer a breadth of combined experience in economic development, industrial development, small business management, real estate development, housing, health facilities financing, local government financing, infrastructure financing and public-private partnerships.
Our main website, which houses board meeting materials and notices of upcoming meetings, can be found at www.il-fa.com.