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2023 Budget Revision Request Guidelines and Resources

You can email the 2023 Budget Revision Request to your designated Trust Fund coordinator

Submit All Budget Revision Requests by 08/31/22

Please note the deadline to submit Budget Revision Request forms to request annual rent increases for the 2023 budget is 5:00 PM on August 31, 2022. Late submissions will NOT be considered for approval. You will find blank Budget Revision Request forms below in both excel and PDF formats.

Where to Submit?

We understand that some participants have been experiencing technical difficulties with the Trust Fund Central Portal and we do not want this to prevent participants from being considered for rent increases. 


What is a Budget Revision Request?

A budget revision request is a two-page form that is submitted by the property owner or by the designated authorized agent to request changes to the breakdown of an approved subsidy, this would include properties under consideration for an annual rent increase. CLIHTF's Board of Directors will either deny or approve each applicant's budget revision request for an annual rent increase based on the guidelines listed below. Applicants will be notified of the Board's decision in December of 2022. 


All approved budget revisions will be applied to the applicant's 2023 Rental Subsidy Program Annual Agreement, to go into effect with the 2023 renewal of their tenant(s’) lease(s). Please note that rent increases are required to take place when the lease is renewed – this is a State of Illinois requirement for Trust Fund funding per the Rental Housing Support Program Act’s administrative requirements (47 IL Admin. Code 380.307). 

If approved, rent increases shall take effect either at the time the lease for the Unit is renewed or, if a lease is not renewed, in the first month Rental Assistance is subsequently provided for a new Tenant for the Unit 

What are the guidelines for Budget Revision Request Submission?

  1. CLIHTF (Chicago Low Income Housing Trust Fund) does NOT consider budget revision requests for individual rents exceeding 120% of the current Fair Market Rent (FMR) for the designated area. Click HERE to access the current FMR for your unit based on the zip code. 
  2. CLIHTF will NOT consider rent increases of more than 7% of the current rent. 
  3. CLIHTF will NOT consider budget revision requests for properties that have joined CLIHTF within the last year. 
  4. CLIHTF will NOT consider budget revision requests for properties that are out of compliance with program guidelines. This includes properties that have failed Housing Quality Standards inspections or Department of Buildings inspections. 
  5. Participants under a multi-year agreement are NOT eligible for a 2023 rent increase. 
  6. To be considered for a 2023 annual rent increase, property owners are asked to submit two comparable rent examples in the general area for the same unit size along with their completed Budget Revision Request form. Property owners can search for comparable rent rates using a third-party apartment rental website like or craigslist. 
  7. Property owners should NOT adjust the tenant portion of rent on the budget revision request form. Please note that the tenant portion of rent is solely based on the tenant’s income, and not the rent rate.  
  8. If applicable, properties with Special Initiative units MUST indicate the Special Initiative on the attached budget revision request form. This information can be found in Exhibit B of the property’s current annual agreement.  
  9. If applicable, properties with Special Initiative units MUST inform the designated Service Provider of the budget revision request (rent increase) so that the service provider can verify that there is funding available under that Special Initiative for a rent increase. 
  10.  If applicable, properties with Special Initiative units MUST list the name of the Service Provider notified below the signature line on the budget revision request form attached. 
  11. The full Budget Revision Request form (two-pages) must be fully completed for the entire rent roll (this includes non-Trust Fund units), and the comparable rent rates must be submitted with this documentation.  

*Please note that Rent increases are NOT guaranteed and are based on funding availability

Thank You!

Click the buttons Below to Access Budget Revision Request Resources 

Budget Revision Request Form- Excel
Budget Revision Request Form- PDF
Budget Revision Request Memo
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