Addresses Industry Leaders on State's Improving Housing Market and New Program for First-Time Homebuyers

CHICAGO - Governor Pat Quinn today addressed the annual Illinois Governor's Conference on Affordable Housing where he discussed the state's commitment to affordable homeownership and his new Welcome Home Illinois loan program for first-time homebuyers. The mortgage assistance package has seen significant interest since its launch in March - so far 384 Illinois residents have reserved $46 million in total financing. The conference is part of Governor Quinn's agenda to drive Illinois' economy forward by improving access to affordable housing.

"Illinois has come a long way since the economy crashed, and the housing market continues to play a big role in driving our state's recovery," Governor Quinn said. "Making sure people have access to homes and apartments they can afford is critical. That's why today homebuyers can turn to our Welcome Home Illinois program for an opportunity to make homeownership a reality. Investing in affordable homeownership will build and protect the middle class, while providing more stability to families and communities."

The new loan program provides first-time homebuyers $7,500 in down-payment assistance with an interest rate as low as 3.875 percent for a secure, 30-year fixed rate mortgage. Generating interest at a faster pace than other IHDA programs, the timing is perfect for Welcome Home Illinois, tailored to working families, with borrower income limits up to 140 percent of the area median income (AMI) as the spring buying cycle hits its stride. More than 47,000 interested residents have visited the Welcome Home Illinois website and local homebuyers are quickly recognizing the program for its historically low rates, currently at 3.875 percent, which is well below the benchmark 30-year fixed-rate mortgage at 4.47 percent.

For more information on Welcome Home Illinois, please visit WelcomeHomeIllinois.gov.

Under Governor Quinn's leadership, financing from the Illinois Housing Development Authority (IHDA) has created 14,500 full time jobs in construction and construction-related industries since 2009. This activity also generated more than $1.2 billion in federal, state and local taxes, as well as local business income and wages. The IHDA is a major contributor to the financial health of the state during a crucial time in Illinois' economic recovery.

"Our members are proud to partner with IHDA to build and rehab homes and apartments across the state," Illinois Housing Council Executive Director Andrea Traudt said. "The sharing of experiences and best practices at this event helps us in our mission to make Illinois a better place to live and work through the construction and preservation of affordable housing."

The conference also honors the state's partners who create and sustain affordable housing for families, veterans, senior citizens and persons with disabilities. Innovative developments and initiatives made possible with state funding are recognized for the impact they have on their local communities.

"There is no greater friend to affordable housing in Illinois than Governor Quinn," IHDA Executive Director Mary R. Kenney said. "Housing affects almost every aspect of a person's life, including access to jobs, transportation, education and healthcare. Under the direction of Governor Quinn, IHDA has stepped up to the challenges of today's housing market to make a real difference in peoples' lives."

Governor Quinn's leadership in affordable housing includes:

·         Launching the Welcome Home Illinois program, a strong benefits package for first-time homebuyers with $7,500 in down payment assistance and a below-market interest rate currently at 3.875 percent.

·         Helping 6,400 working families capitalize on historically low interest rates by accessing $724 million in IHDA mortgages and down payment assistance.

·         Declaring 2013 as the Year of Homeownership to emphasize the importance of housing in Illinois' economic recovery. Five new homeownership programs were launched during the year.

·         Targeting $130 million in Illinois Jobs Now! capital funding for affordable housing, marking the first time this state funding source has been dedicated to housing.

·         Providing safe and affordable rental options for a growing number of Illinois renters. IHDA has invested or leveraged $2.5 billion to create and preserve 19,700 affordable rental homes in 257 developments since 2009.

·         Helping persons with disabilities or special needs live with freedom, choice and dignity by financing the creation of more than 2,000 units of new permanent supportive housing.

·         Investing $150 million to bring 1,000 vacant properties back to productive use and to save 375 homes in targeted communities.

·         Committing more than $327 million in federal mortgage assistance from the Illinois Hardest Hit program so that 12,500 families could stay in their homes.

The IHDA (www.ihda.org) is a self-supporting state agency that finances the creation and the preservation of affordable housing across Illinois. Since its creation in 1967, IHDA has allocated $12.4 billion and financed approximately 240,000 affordable units across the state.

The two-day Conference on Affordable Housing is co-sponsored by IHDA and the Illinois Housing Council, and draws more than 700 developers, non-profit organizations, community development corporations, legislators and other partners dedicated to the success of affordable housing in Illinois. Representatives from IHDA, the Illinois Department of Healthcare and Family Services and the U.S. Department of Housing and Urban Development all participate in the event's panel discussions and workshops.

Congressman calls on Congress to permanently extend the Work Opportunity Tax Credit for Returning Heroes and Wounded Warriors

Washington, D.C. - After the expiration of a tax credit that had helped put 1400 Iowa veterans back to work, Rep. Bruce Braley (IA-01) today wrote Speaker of the House John Boehner urging him to restore the tax credit and make it permanent.

"Fifty thousand veterans have been helped by this tax credit?1400 of them in Iowa alone?and it's time we made it permanent," Braley said. "Iowa employers have a strong commitment to hiring our highly-skilled veterans and this law would allow them to continue that commitment."

Braley introduced the Hire a Hero Act in December of last year. It was designed to make permanent a temporary tax credit that could be used to hire unemployed veterans.

"Recently I met with veterans and businesses in Ames, Grinnell, and Iowa City. I saw firsthand the individuals and employers that benefited from the Work Opportunity Tax Credit for Returning Heroes and Wounded Warriors," Braley wrote.

In 2011, Braley wrote the Combat Veterans Back to Work Act to provide employers with a payroll tax break if they hired recently returned veterans, including members of the Iowa National Guard. The bill was incorporated into new tax credits signed into law in November 2011. The Returning Heroes and Wounded Warriors work opportunity tax credits provide anywhere between $2,400 and $9,600 to businesses who hire veterans.

These credits are available to businesses that hire unemployed or returning veterans and qualify for tax credits worth between $2,400 and $5,600. Businesses that hire unemployed veterans with a service-connected disability qualify for tax credits of between $4,800 and $9,600. There is no limit to how many veterans a business can hire, therefore no limit on how many tax credits they can receive.

The letter to Speaker Boehner is available below:

April 22, 2014

The Honorable John Boehner

Speaker of the House

United States House of Representatives

H- 232 The Capitol
Washington, D.C. 20515

Dear Mr. Speaker:

I'm writing to urge you to quickly bring up H.R. 3648, the Hire a Hero Act of 2013 for a vote in the House.

Recently I met with veterans and businesses in Ames, Grinnell, and Iowa City.  I saw firsthand the individuals and employers that benefited from the Work Opportunity Tax Credit for Returning Heroes and Wounded Warriors. Unfortunately, this tax credit expired at the end of 2013. Thanks to the credit, in 2013, the unemployment rate for Iowa veterans fell to 3.4 percent, which was about half the national average. However, there are still significant populations of veterans that are in need of good jobs. For example, in December 2013, the national unemployment rate for post-9/11 veterans was 7.3 percent. This remains unacceptably high, and that's why we must renew and extend this important tax credit that helps our nation's veterans find good jobs.

On December 4th, 2013 I introduced H.R. 3648, the Hire a Hero Act of 2013. This bill would make the Work Opportunity Tax Credit for Returning Heroes and Wounded Warriors permanent. Over 50,000 veterans have been hired because of this tax credit nationally, 1400 of those in Iowa. These key figures illustrate the need to make the tax credit permanent, which provides a valuable incentive for businesses to hire veterans.

I urge you to swiftly bring up this bill for a vote in the House and I look forward to hearing back from you soon.

Sincerely,

Bruce Braley

Jim Victor Junior Achievement Golf Classic on Monday, May 5, 2014

Moline, IL - Grab your golf clubs and participate in the Jim Victor JA Golf Classic on May 5, 2014.  Not only will you enjoy a great day of golf, but you will help Junior Achievement empower students to make a connection between what they learn in school and how it can be applied to the real world.  JA of the Heartland serves more than 53,000 students in 260 schools and youth organizations throughout its 24-county service area.

Community participation is important for the success of JA programs. All proceeds from the golf classic will be used to help cover the cost for JA's financial literacy, work readiness, and entrepreneurship programs in area schools.

The Jim Victor JA Golf Classic will be held at Davenport Country Club and TPC at Deere Run in the Quad Cities on Monday, May 5.  Tee time is at noon with registration and warm-up at assigned course starting at 11:00 a.m. Golfers are invited to the Player Award Reception at the Davenport Country Club immediately following play.  The reception is a great networking event with wonderful auction items to bid on.

An additional tournament is scheduled for Monday, May 12 at Kewanee Dunes Golf Club in Kewanee, IL.

Register online for either event at www.jaheartland.org.

If golf is not your game you still have the opportunity to support JA's mission by being a "Spirit Golfer" with a $50 donation. Spirit Golfers receive a player gift and an invitation to the Player Award Reception.

Special thanks to event sponsors including title sponsor Jim Victor and course sponsor HNI Corporation.  For more information contact Leslie Corlett at (309) 277-3919 or leslie.corlett@ja.org.

About Junior Achievement USA™

Junior Achievement (JA) is the world's largest organization dedicated to giving young people the knowledge and skills they need to own their economic success, plan for their future, and make smart academic and fiscal choices. JA programs are delivered by corporate and community volunteers, and provides relevant, hands-on experiences that give students from kindergarten through high school knowledge and skills in financial literacy, work readiness and entrepreneurship. Today, JA reaches four million students per year in 124 markets across the United States, with an additional six million students served by operations in 119 other countries worldwide. Visit www.ja.org for more information.

Locally, Junior Achievement of the Heartland serves 24 counties in eastern Iowa, western Illinois and Grant County, WI.  Each year more than 53,000 benefit from a JA learning experience.  Visit www.jaheartland.org for more information.

Mother's Day is the Most Popular Holiday to Dine Out

Two-thirds of those dining out on Mother's Days this year will have children under the age of 18 in their party

April 22, 2014, West Des Moines, Iowa– Don't wait to make those restaurant reservations, Mother's Day surpasses even Valentine's Day as the most popular holiday on which to dine out according to research from the Iowa Restaurant Association. In fact, nearly half of moms would pick a favorite restaurant as the place to celebrate Mother's Day.

Not sure what to include with that card?  "There's really no need to worry about how to celebrate the moms in your life," said Jessica Dunker, Iowa Restaurant Association president and CEO. "Moms love restaurants. Not only do restaurants provide a much-deserved reprieve from cooking at home, they also provide a celebratory atmosphere."  Restaurant gift cards and certificates are also a top gift pick for moms, with one in five saying this is their preferred gift.

Dunker noted that it is important to get on top of making those Mother's Day restaurant reservations. "It's not too soon to make those reservations regardless of the meal you're planning to celebrate," said Dunker.  58 percent of Mother's Day diners will go out to a restaurant for dinner, 32 percent lunch, 24 percent brunch, and 10 percent for breakfast.  In addition, one in five Mother's Day diners (19 percent) will go out for more than one meal that day. Atmosphere is also an important factor because children are a major part of the mix when dining out on Mother's Day. Two-thirds of those dining out on Mother's Days this year will have children under the age of 18 in their party.

Find a Restaurant

Looking for a new restaurant to try this Mother's Day? Dunker encourages people to check out Dine Iowa, a free statewide restaurant directory.  Available online as well as a free smart phone app and on Facebook, Dine Iowa allows consumers to check out menus and hours, as well as run unique searches on everything from Gluten Free offerings to patio seating.  It is available at www.dineiowa.org.

Editor's note: in the Quad Cities area, log on to www.quadcitiesdiningguide.com and find that special restaurant for this wonderful occassion.

Iowa Restaurant Association

The Iowa Restaurant Association is an advocacy organization supporting Iowa's hospitality industry with educational and promotional programs across the state.  www.restaurantiowa.com.