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Affordable Rental Housing GrantsThe deadline to apply for a housing grant is December 24 or the last business day before December 25 each year.
The City of Kelowna offers $200,000 in grants to encourage the construction of affordable rental housing units. Funds are distributed based on the number of dwellings that qualify.
Grants are available in two categories:
- Up to $5,000 per unit of non-profit affordable rental housing;
- Up to $2,500 per unit of affordable rental housing that does not involve a non-profit society
In addition $120,000 has been budgeted annually for waiving a portion of the applicable Development Cost Charges (DCC's) for eligible units of non-profit rental housing.
In order to be considered for affordable rental housing grants and/or partial waiving of DCCs, the City requires the following:
- A letter of application to be received no later than the deadline (December 24 or the last business day before December 25);
- Units to be identified for funding must qualify under the City’s definition of affordable rental housing or non-profit affordable rental housing;
- Units eligible for funding must be secured by entering into a housing agreement with the City;
- Written confirmation of other funding sources will be required for non-profit affordable rental housing;
- Dwellings qualifying for funding must be reasonably expected to be constructed in the year the grant is awarded.
Funding allocations will be identified and confirmed in writing by the City. Grants will be applied at the building permit stage as a deduction from the applicable costs.
Carryover of Grants to Offset DCC's
Only agencies that were authorized for a grant to offset DCC's, that do not reach the building permit stage the funded year, must apply to carry over the authorized DCC portion of the grant if they anticipate reaching the building permit stage the following year. No grant will be carried over more than one year.
ContactTheresa Eichler, Community Planning Manager
City Hall, 1435 Water St., Kelowna, V1Y 1J4
Phone: 250 469-8633
E-mail: teichler@kelowna.ca
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