Affordable Housing Fund: Repair and Renewal
No fixed amount
Grant
Description:
This option of the Affordable Housing Fund provides low-interest repayable loans, forgivable loans, and contributions to renovate and repair affordable and community housing. The Fund prioritizes partnerships between governments, non-profits, private sector and other partners.
To qualify, you need to partner with a level of government to ensure a coordination of investments.
The Affordable Housing Fund focuses on developing and repairing affordable and socially inclusive housing that is mixed-income and mixed-use.
Comments on Funding:
Continuous Intake
Eligibility:
Applicants must be:
1. community housing providers (for example, public or private non-profit housing organizations or rental co-operatives)
2. municipalities
3. provinces and territories
4. Indigenous governments and organizations
5. private sector
Note: Private sector organizations are not eligible for contribution only funding.
Project requirements:
1. community and affordable housing
2. urban Indigenous community housing
3. mixed use market / affordable rental
4. shelters
5. transitional and supportive housing
All projects must:
1. have a minimum of 5 units/beds
2. have primary use as residential
3. meet minimum requirements for partnerships, financial viability (XLS), accessibility (PDF) and energy efficiency (PDF).
Projects with the most ambitious commitments to accessibility and energy efficiency will be prioritized for funding.
Application Steps:
Applicants must complete the Required Documentation Checklist (PDF), which outlines the minimum documentation required at each stage of the process to move forward.
Documentation Needed:
Applicants must submit:
1. Integrity Declaration
2. Corporate Documents:
a. Articles of incorporation including all supporting
documentation, such as, but not limited to – a business
name registration, articles of organization, constitutional
documents, etc.
b. Letters, Patent, Bylaws, and any applicable operating
and shareholders’ agreements.
c. Detailed information about the entity’s ownership
structure, including any related entities.
d. Organizational chart.
e. The name and relationship of all registered and
beneficial owners of the property (not applicable
if the property is in Quebec).
2. Financial Statements
a. Audited financial statements for the most recent three
years for the proponent(s) and for each guarantor(s)
if applicable. Review Engagement or alternative options
may be accepted at CMHC’s sole discretion.
b. For new entities, alternative options may be considered
at CMHC’s sole discretion.
3. Development Experience
a. The applicant, and/or their contracted builder or
developer must provide resume(s) demonstrating
their experience in construction, including: a list of
completed and current projects of similar size and
scope as the subject building, property address, type
of property, number of levels, number of units, overall
project budget, year completed.
b. List of all new construction and renovation projects
currently underway, regardless of whether financed
and/or insured by CMHC.
4. Property Management Experience
a. The applicant must provide resume(s) outlining the
experience of the entity and individuals managing
the property, including the property address, type of
property, tenant profile, number of levels, number
of units and number of years of management
experience.
b. If the management of the property will be
contracted out, the proponent must provide
resume(s) of the contracted property manager
outlining their related experience in managing
properties of similar size
Other Things to Note:
About the author
Maurice