Affordable Housing Capital Investment Program
The City's Municipal Housing Strategy has identified the need for more affordable housing and new funding approaches.
Here's how to access affordable housing construction funding!
To increase its financial commitment to affordable housing solutions within the City of Kingston, $5 million ($1 million a year over five years) has been allocated for the establishment of an Affordable Housing Capital Investment program. The intent of the program is to facilitate and encourage the construction of affordable housing units within private and not-for-profit housing projects.
Key features of the program include:
- Projects are considered on a rolling basis with higher priority given to projects that provide greater levels of affordable housing benefit.
- Funds delivered through this program are provided in the form of a forgivable loan which is fully forgiven upon the completion of the affordability period; typically after 20 years.
- Projects will generally be prioritized based on the number of affordable units being proposed and the length of the affordability period.
- Proponent's will be required to enter into an contribution agreement registered on title of the property which guarantees the affordable housing provisions and describes the terms of the loan.
- Funds under the program must be used towards the development of affordable housing units in Kingston and can include land costs, legal fees, construction costs, conversion costs, etc.
- Anyone wishing to access this funding is encouraged to contact the Housing and Social Services Department at the contact below to discuss the proposed project and review eligibility.
- Funding allocations are based on available program funds at the time of application and project priority.
For a full description of the Affordable Housing Capital Investment Program, its guidelines and selection criteria, please contact the City.