Upgrade to Building Code Loan
$200,000
Loan
Description:
The Upgrade to Building Code Loan offers financial support for interior improvements to your building, including upgrades to plumbing, electrical systems, HVAC, mechanical systems, roofing, fire protection systems, and other work required to meet Building Code standards.
Comments on Funding:
The loan covers 50% of the improvement costs, up to a maximum of $200,000. It is repaid over 10 years with 0% interest. In certain areas, a portion of the loan may be forgiven.
Continuous Intake
Eligibility:
Applicants must meet the following conditions:
1. The applicant must be the registered property owner or an authorized agent.
2. The application must be approved before any work begins.
3. The property owner must maintain at least 10% equity in the property after the improvement.
4. The property owner must have no outstanding debts to the City of London.
5. The property must be located within an approved Community Improvement Project Area.
Application Steps:
Applicants must contact City Staff at 519-930-3500 or email CIPincentives@london.ca.
Documentation Needed:
No specific documentation has been identified
Other Things to Note:
About the author
Maurice