Commercial District Housing Opportunities Program
$600,000
Grant
Description:
The Commercial District Housing Opportunities Program (the Program) is intended to provide
financial assistance in the form of a low-interest Loan and Grant to promote the improvement
or development of dwelling units that will create new/improved housing opportunities support
robust local commercial district populations that add vibrancy and support demand for local
commercial businesses/services. Activities supported by this program include:
– Converting existing non-residential spaces into dwelling units where permitted in accordance with the applicable City zoning by-law;
– Undertaking renovations to existing dwelling units;
– Creation of new dwelling units, including accessory Dwelling Units, via building additions or new detached accessory buildings, including laneway housing; and/or
– Creation of new dwelling units through development of vacant land, surface parking lots or redevelopment of existing buildings.
Comments on Funding:
Amount: The maximum Loan amount is $20,000 per dwelling unit to a maximum of $600,000 per property. The maximum grant amount available for professional fees and City of Hamilton fees only is $5,000
Continuous Intake
Eligibility:
Applicants must be:
1. who is the Owner registered on title and who will be undertaking the improvement/development that is the subject of the Program application.
2. within the Ancaster, Barton Village, Binbrook, Concession Street, Downtown Hamilton, Dundas, Locke Street, Ottawa Street, Stoney Creek, Waterdown and Westdale Commercial District CIPAs, the Strategic Commercial Corridor CIPAs and those properties within the municipal boundary designated under Part IV or Part V of the Ontario Heritage Act as collectively defined through the RHCD CIPA By-law
Application Steps:
Applicants must submit complete application form to the Economic Development Division.
Documentation Needed:
Applicants should submit:
1. Pre-Application Form
2. Final Program Application Form
3. Application Fee
4. plans, estimates, contracts and other details as may be required to
satisfy the City as to the cost of the improvement/development and conformity with the
objectives of the Revitalizing Hamilton’s Commercial Districts Community Improvement Plan
5. t information to assist with determining the financial
capabilities ofthe Applicant to complete the improvement/development subject to the Program
application and to identify any potential financial risks to the City. Information required to be
submitted is at the discretion of the City and may include but may not be limited to, a financial
risk assessment, personal/corporate net worth statements and/or business plan.
Other Things to Note:
About the author
Maurice