Development Lifecycle Software

Illinois is seeking a software platform to manage all phases of the multifamily development lifecycle, supporting activities from initial project planning through long-term compliance and affordability monitoring. The chosen solution will facilitate the administration of a portfolio that includes over 800 loans, more than 300 grants, and approximately 1,100 tax credit properties, ensuring the secure and efficient handling of demographic, financial, programmatic, and regulatory data.

Key functionalities required include the ability to receive, review, and process funding applications through a secure, user-friendly interface; track project milestones from underwriting through closing and construction; monitor construction progress and manage budget draw requests; and administer a portfolio of loans and grants via a robust servicing module. The system must support auditable records for federal and state oversight, investor reporting, and public transparency, as well as provide real-time dashboards and customizable analytics for timely, accurate reporting.

A successful implementation will also involve migrating comprehensive legacy data—such as financial records, compliance histories, and documentation—while maintaining data integrity and audit trails. The platform is expected to improve internal coordination among departments and streamline communication with external stakeholders, including developers, owners, property managers, and compliance agents. The contract period for this project will be two years.