Chicago Housing Authority adjusts voucher program

Chicago Housing Authority officials say the agency will lower the limit on exception payments for housing vouchers in a program that has allowed some of the city's poorest residents to live in high-priced apartments.

CHA executive Michael Merchant says adjusting the policy after a review strikes a "balance between providing housing options for voucher participants and fiscal responsibility."

The CHA currently is making payments approaching $3,000 monthly for a few residents to live in buildings that charge some of the highest rents in Chicago.

The program was criticized by Illinois Congressman Aaron Schock. The Peoria Republican noted the CHA awards vouchers up to 300 percent of market value, and benefit only a few.

Merchant says under the new policy, voucher participants can receive up to 150 percent of market value.