$25,000.00 ForgivableLoan for Secondary Suites, Niagara

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$25,000.00 ForgivableLoan for Secondary Suites, Niagara

Post: # 45537Post Flipping4Profit.ca
Sun Apr 12, 2015 8:25 pm

$25,000.00 Forgivable Loan for Secondary Suites,
Niagara Region Housing, Ontario-Canada

Niagara Renovates Program SECONDARY SUITES 2015-2016

Secondary Suites

The Niagara Renovates Program is a program that funds the creation of Secondary Suites in single family homes.
Secondary suite units must have modest floor space and amenities.
A Secondary Suite is defined as a self-contained, separate unit with sleeping, full kitchen and bath facilities and a separate entrance. The new unit must meet applicable zoning, building, fire and property standards.

Funding for Secondary Suites of up to $25,000 is a fully forgivable loan which is written off at an equal amount over a 15 year period, provided the Owner complies with the conditions of the Letter of Agreement.

The loan amount includes a grant portion for accessibility modifications, if required, of up to $5,000 that does not need to be repaid.

More info at

http://www.nrh.ca/homeowners/pdf/NRP-Se ... -Sheet.pdf

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