Secondary Suite Affordable Housing Grant Program Kingston-On

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Secondary Suite Affordable Housing Grant Program Kingston-On

Post: # 45967Post Flipping4Profit.ca
Tue Feb 02, 2016 10:36 pm

Secondary Suite Affordable Housing Grant Program Kingston-Ontario

The City is offering the Secondary Suites Affordable Housing Grant Program to stimulate homeowner investment to create alternate housing options within the City.

To complement existing affordable housing programs available within the City, the Secondary Suites Grant Program is now being offered to allow homeowners to participate in the creation of additional modestly priced rental housing within the City.

Participants of the program must commit to renting the suite:

at an affordable rate for an agreed upon period of time, and
to a household that meets certain household income criteria
Provided these two requirements are met, there are no other conditions or requirements on who can rent the suite. For additional information, including how to apply and program requirements review the Program Guideline.

The program includes two different funding streams:

Secondary Suites Municipal Fee Rebate – this stream provides a forgivable loan for projects within areas of the City where Planning applications are required to permit a secondary suite. Eligible expenses include required municipal application fees of up to a maximum $7,000. Forgiveness of the loan is dependent on providing the unit at an affordable rental rate to an income qualified household for a minimum one year affordability period.

Secondary Suites Affordable Housing Grants – this stream provides a forgivable loan of the lesser of $15,000 or 75% of the costs associated with developing a secondary suite. Funding will be provided to owner-occupied households who create a secondary suite and commit to providing the unit at an affordable rental rate to an income qualified household for a minimum five year affordability period.

Developing affordable housing is one of the City's top six priorities outlined in the Corporate Strategic Plan.

Contact

Planning & Development
City Hall, 216 Ontario St.
Kingston, ON K7L 2Z3
Phone: 613-546-4291, Ext. 3180

DISCLAIMER

We believe the information contained in this article to be accurate. It is presented with the understanding that we are not engaged in rendering legal, accounting, or investment advice. When professional assistance is required, utilize the services of a licensed real estate broker, lawyer, accountant, or other consultant as may be required.

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