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Property Rental Assistance 2012

Property Rental Assistance 2012. Expand affordable housing opportunities throughout Chicago (see map on handout) Provide owners with reliable & straight forward rental income Provide housing options for: Working Families Seniors Supportive Housing for specific populations including:

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Property Rental Assistance 2012

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  1. Property Rental Assistance 2012

  2. Expand affordable housing opportunities throughout Chicago (see map on handout) Provide owners with reliable & straight forward rental income Provide housing options for: Working Families Seniors Supportive Housing for specific populations including: Family Supportive Senior (Assisted / Supportive) Intergenerational / Grand- Families Individual Veterans Program Objectives

  3. All types of units accepted; but 8 unit minimum Up to 40% subsidy for multi-unit family buildings Up to 50% subsidy for multi-unit senior buildings Up to 100% subsidy for supportive housing Contracts up to 30 years but no less than 5 Rent Determination: CHA determines the contract rent by accepting the lowest of the following amounts: 300% of the current published Fair Market Rent (FMR) for the applicable bedroom size Average market comparables Owner requested amount Program Parameters

  4. Application Process: Available at www.thecha.org/pra 30-45 days processing time Subject to Evaluation Committee and Board approval Properties Scored on the following: Property description, unit mix, type and size (25 pts) Neighborhood characteristics(25 pts) Owner Experience (20 pts) Manager Experience (20 pts) Rent Schedule Request (10 pts) Application Process

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