Investment in Affordable Housing - Community Connectiondocs.communityconnection.net/Falls...
Transcript of Investment in Affordable Housing - Community Connectiondocs.communityconnection.net/Falls...
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Ontario Renovates
Investment in Affordable Housing
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Ontario Renovates
Ontario Renovates Program
provides financial assistance
to make essential home repairs
modifications to increase accessibility
to create a secondary/garden suite
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Investment in Affordable Housing
Ontario Renovates
is funded by the federal and provincial governments, and
is being delivered by the County of Simcoe
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Ontario Renovates
Interest Free
Forgivable Loan
$15,000
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Ontario Renovates
Loans are fully forgiven at a
rate of 10% per year
Homeowner must occupy dwelling as sole and principal
residence for 10 years
Adhere to all other terms and conditions of the Forgivable Loan
Agreement
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Ontario Renovates
Loans for $10,000 or greater will be
secured on title
Accessibility grants up to $5,000 do not
require repayment
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Ontario Renovates
BASIC ELIGIBILITY REQUIREMENTS
FOR HOME REPAIRS
Own a home in the County of Simcoe as sole and principal residence with a
value at or below $422,058*
Total gross income of all household members at or below:
$60,300* for homeowners requiring repairs and/or accessibility
modifications
Total assets less than $20,000, excluding locked-in retirement savings
plans
*Maximum income and house value is subject to change from time to time at the discretion of the
County of Simcoe and pursuant to the requirements of the Ministry of Municipal Affairs and
Housing. Be sure to check back regularly for updates.
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Ontario Renovates
Building exterior (roofs, walls,
foundations)
Plumbing, septic systems
Electrical/Heating systems
Doors & Windows
Fire safety
Mould remediation
URGENT HOME REPAIRS
Examples include but are not limited to:
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Ontario Renovates
Ramps
Chair and bath lifts
Cues for doorbells/fire alarms
Residential elevators
Handrails
Height adjustments to countertops
Bathroom modifications
Porch lifts
ACCESSIBILITY MODIFICATIONS*
Grant - $5,000
Examples include but are not limited to:
*Modifications that exceed $5,000 will be considered a forgivable loan
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Accessibility Modifications
Accessibility Modification form to be signed by medical
professional
Medical professional to describe condition & proposed
modifications
Whenever possible, having the occupational therapists
and people providing care involved in the projects
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Roll in shower
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Residential elevator
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Bathroom modifications
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Stair Lift
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Porch Lift
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Ontario Renovates
Secondary and Garden Suites
MAXIMUM FUNDING - $25,000
Interest free, forgivable loan over a 15 year period
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Ontario Renovates
Secondary Suites…..
Provide:
affordable housing for renters
additional income for homeowners
safety & security
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Ontario Renovates
THE NEW UNIT:
Must comply with local municipal building approvals and Ontario
Building Code requirements
Secondary suites can be created in new and existing homes
Accessibility grant can be incorporated into the funding for second
suites and garden suites for accessible features that are incorporated
into the unit
Rents must remain affordable for 15 yrs
Unit must be rented to tenants within a specific income established for
their areas
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Ontario Renovates
Funding can only be accessed one time for the
duration of the program
FUNDING IS AVAILABLE
FIRST-COME-FIRST-SERVED
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Ontario Renovates
HOW TO GET AN APPLICATON
County of Simcoe
Social Housing Department
Attn: Ontario Renovates Program
1110 Hwy. 26, Midhurst, ON L9X 1N6
Phone (705) 725-7215 Ext. 1119
Fax (705) 798-1007
www.simcoe.ca/ontariorenovates