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Property Rental Assistance 2012

The Chicago Housing Authority (CHA) is expanding affordable housing opportunities, providing reliable rental income for property owners. The program aims to support working families, seniors, and specific populations like veterans and intergenerational families. Various subsidy levels are available for multi-unit and supportive housing, with contracts lasting 5 to 30 years. The rental rates are determined by the CHA based on Fair Market Rent and market comparables. The application process takes 30-45 days and is subject to evaluation for property characteristics and management experience.

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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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