# Illinois Finance Authority

Illinois Finance Authority is a Government / Public Body based in Chicago, United States.

## Overview

- **Organization type:** Government / Public Body
- **Headquarters:** Chicago, United States
- **Region:** North America
- **Address:** 160 North LaSalle Street, Chicago, IL, United States
- **Founded:** 2004
- **Assets under management:** Undisclosed
- **Website:** https://www.il-fa.com
- **LinkedIn:** https://www.linkedin.com/company/illinois-finance-authority

## Regulatory record

- **Reports private funds:** No

## About

The Illinois Development Finance Authority is a self-financed state authority that issues taxable and tax-exempt bonds, makes loans, and invests capital for businesses, non-profits, and local governments in Illinois. Its operating income comes from fees, interest, and investment income. The authority supports the Governor's economic development agenda.

## Sectors

- Infrastructure
- Real Estate
- Energy Transition & Renewables
- Healthcare Services
- Education
- Industrial Tech

## Offices

- Springfield, IL

## People

- Christopher Meister — Executive Director
- Will Hobert — Chair of the Board of Directors
- Sanjay Patel — Chief Operating Officer

## Questions

### Is the Illinois Development Finance Authority funded by taxpayer dollars?

No. IFA is a self-funded entity that generates its operating revenue from fees on bond issuances and loan servicing. It does not receive an annual appropriation from the State of Illinois general revenue fund. This structure insulates its operations from the state budget cycle and allows it to recycle earnings into direct lending programs.

### What is IFA's relationship to the Illinois EPA's State Revolving Fund?

IFA serves as the financial manager and program administrator for Illinois's Clean Water and Drinking Water State Revolving Funds. The Illinois Environmental Protection Agency sets project priorities and environmental standards, while IFA handles bond issuance, loan underwriting, and disbursement for municipal wastewater and drinking water infrastructure projects.

### Does IFA make direct loans or only issue conduit bonds?

IFA does both. Its conduit bond issuance program is the larger of the two, underwriting tax-exempt and taxable bonds for private borrowers. It also operates direct loan programs including Advantage Illinois for small manufacturers and the Brownfields Redevelopment loan fund. The authority's revolving loan portfolio is funded by its own fee income and federal grants.

### What types of projects has IFA financed historically?

IFA-financed projects span healthcare facilities like the Shirley Ryan AbilityLab, cultural institutions like the Museum of Science and Industry, private K-12 and higher-education institutions, municipal water systems, and manufacturing facilities across Illinois. The authority is also active in brownfield remediation, acquiring and cleaning up contaminated industrial parcels.

### How is IFA governed?

IFA is governed by a board of directors appointed by the Governor of Illinois. The board appoints an Executive Director — currently Christopher Meister — who manages day-to-day operations. The Chief Operating Officer, Sanjay Patel, oversees internal administrative functions. As a component unit of the State of Illinois, IFA's financial statements are included in the state's comprehensive annual financial report.

## Related profiles

- [illimity](https://altss.com/profile/illimity)
- [Illinois Mutual Life Insurance Company](https://altss.com/profile/illinois-mutual-life-insurance-company)

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Last updated: 2026-07-08T22:04:50.010Z

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