Agreements and Forms for RSP Participants
If you are a property owner participating in the Chicago Low-Income Housing Trust Fund’s Rental Subsidy Program, as part of your Agreement, you are required to submit certain forms (Exhibits) both when you complete your agreement and throughout the year. You can download the Exhibits below. In many cases, we have provided examples of completed Exhibits, to help you see how to correctly fill in the forms.
Ownership Disclosure Affidavit (Exhibits C & C-2)
Ownership Disclosure Affidavit: Exhibits C & C-2
Exhibit C must be filled out as part of the RSP Application process, and again each year when existing Agreements are renewed. Section A asks for general information on the Owner and the Property containing the subsidized units, while Section B of the Affidavit must be filled out for each building the Owner owns within the City of Chicago.
Exhibit C-2 is a similar form to be filled out when the Property is owned not by an actual person (or people), but by a legal entity – a partnership, company, trust, etc.
Owner-Agent Authorization (Exhibit E)
Authorized Agent: Exhibit E
If the property ownership is utilizing a property management firm, Exhibit E can be submitted to give authority to the agent to act on behalf of the property in completing the Agreement as well as submitting payment requests and receiving payments on behalf of the ownership. The Agreement should be signed by the ownership and then authorize the agent to complete the remaining items. During the first year, the Trust Fund may seek a copy of the management agreement to assure that payments are going to the correct party.
- Exhibit E: PDF
Tenant Income Verification (Exhibit I)
Income Verification: Exhibit I
The Tenant must complete this form and submit it to the property prior to the signing/resigning of the lease. This documentation is required in order to assure that the Tenant meets the Income Requirements of the program. The Tenant must list all persons living in the unit (adults and children), and provide documentation of all gross cash benefits received including employment, social security and child support.
Income verifications are completed once per year, prior to signing a lease. Exhibit I: Income Verification must be signed by the Tenant and the Property, as well as any third party that may have helped with completing the form (such as a case worker). Note: For over-income persons already benefiting from a subsidy there is the opportunity for “Transition Assistance” for one year. The Trust Fund staff will work with the Property in these cases.
Exhibit I is two pages. The Tenant, the social service worker (if applicable), and the property owner / manager should all sign.
Lease Submission (Exhibit J)
Leases: Exhibit J
Annual leases are required for the Rental Subsidy Program. Properties should complete Exhibit J documenting which units are participating in the program and provide a copy of each corresponding lease (Note: Leases should include Exhibits K-1 & K-2).
- Exhibit J: PDF
Lease Riders (Exhibits K-1 & K-2)
Lease Riders: Exhibits K-1 & K-2
Exhibit K-1 (Rental Assistance Rider) provides the tenant with specific information on the tenant share of rent that is approved for the unit. The tenant should sign this and the property should include this as an attachment to the lease. The property should submit this with the copy of the Lease Agreement.
Exhibit I (Tenant Bill of Rights) provides the tenant with information on Chicago’s Tenant’s Bill of Rights. This should be included as an attachment to the lease to assure that the tenant has received notice of their rights (Note: Some leases include this information in the standard lease).
- Exhibits K-1 & K-2: PDF
Quarterly Payment Request (Exhibits L-1 & L-2)
The Trust Fund pays subsidies to property owners quarterly. When all documentation is current, the Trust Fund will pay at the beginning of the quarter if Exhibit L: Payment Request is submitted one month in advance.
Exhibit L is two pages (L-1 and L-2). You must fully complete L-1 & L-2 and sign the request.
Annual Reconciliation (Exhibits M-1 & M-2)
The Annual Reconciliation (Exhibits M-1 & M-2 should be completed by those properties with more than two rental subsidies, and submitted to the Trust Fund at the close of the calendar year. Properties can also utilize this form to update during the year if there is a question of an over or under payment by completing all of the information from the beginning of the year (January) through the quarter in question.
Budget Revision Form
Budget Revision Form
A budget revision, for the gross rent amount or the tenant portion (or both), may be requested annually in September. Properties should complete the Budget Revision Form documenting the current subsidy amount and the amount of the requested changes and send to the Trust Fund no later than September 30th. All requested changes must be accompanied by supporting documentation (generally, this will be a building rent roll with any other relevant documents).