Housing Grant/Loan
Available in the Central Business District and Mixed-Use Areas
Purpose
The purpose of the program is to finance building improvements that would otherwise be considered cost prohibitive by a property owner. The program will also stimulate the rehabilitation of residential units, promote the reuse of buildings, and increase the range of uses and number of housing units/people living in the Central Business District and Mixed-Use areas.
Funding Opportunity
The Town provides up to 50% of the approved construction costs for eligible buildings, to a maximum of $6,000 per unit. The maximum municipal contribution per-unit would be a $3,000 interest-free loan and a $3,000 grant. Applicants will be reimbursed for the rehabilitation or conversion of up to four (4) units for a maximum of $24,000 (50% interest-free loan and 50% grant).
Eligibility
The Housing Grant/Loan Program offers grants and loans to property owners for the following
scenarios:
- Conversion or rehabilitation of existing commercial/re/mixed-use building space to residential rental units
- Creation of new residential rental units on a property containing an existing commercial building
- Rehabilitation of existing multi-residential rental units identified by this Plan
The following types of conversion/rehabilitation projects will be eligible for the Housing Grant/Loan Program:
- Interior design and restoration to existing upper floor/rear residential units in a mixed-use building, which will improve living conditions, result in an increase in value, or bring units into compliance with the applicable codes and by-laws
- Conversions of existing commercial, residential, or mixed-use building space where two or more new residential units are created
- Creation of new residential rental units as an accessory use to an existing commercial building
- Renovation to existing multi residential units are eligible for improvements such as:
- Structural repairs
- Repair/replacement/installation of building infrastructure such as roofing, windows, doors
- Repair/replacement//installation of plumbing, electrical, HVAC, and fire protection systems
- Weatherproofing
- Improvements to accessibility
- Any other improvements that may bring the building up to code, or address health, safety or risk management issues
Contact Us
Town of Bracebridge
1000 Taylor Court
Bracebridge, ON P1L 1R6
Phone: (705) 645 5264