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Affordable Housing Investment Program | Edmonton City

Value

Funding of up to 25% of total construction cost

Description

The Affordable Housing Investment Plan (2019-2022) aims to create 2,500 new or renovated affordable housing units across Edmonton. To help meet this goal, the Affordable Housing Investment Program provides limited grant funding, to eligible non-profit and private sector entities to encourage affordable housing development in our city.

Eligible Applicants

New Construction — Planned Development or Reimbursement

  • Open to not-for-profit or for-profit company
  • Targeted to shovel ready planned developments or for reimbursement after construction has begun but prior to occupancy
  • Funding of up to 25% of total construction cost of the affordable housing component of the project (actual amount of funding commitment by the City may vary)
  • Land must be owned by the applicant

Rehabilitation of Existing Housing Units

  • Open to non-for-profit or for profit company
  • Targeted to developments that are ready to start rehabilitation of existing units for the purpose of affordable housing within two years of agreement
  • Funding of up to 25% of total construction cost of the affordable housing component of the project (actual amount of funding commitment by the City may vary)
  • Land must be owned by the applicant

Eligible Expenses

Projects that may be considered for funding include:

  • Affordable near-market rental
  • Affordable homeownership
  • Mixed-income developments with an affordable housing component
  • Mixed-use developments with an affordable housing component
  • Permanent supportive housing developments
  • Rent-geared-to-income/deep subsidy

Deadline Date

  Applications are being accepted between January 10 and April 13, 2022.
Industry: Non-Profit, Location: Alberta ,
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