Investment in Affordable Housing

 

In Fall of 2011, the Ministry of Municipal Affairs and Housing announced that as part of the multilateral Affordable Housing Framework that the province had developed a new program entitled Investment in Affordable Housing for Ontario (IAH).  It is a joint venture between Ontario and the Federal Government for the creation and repair of affordable housing over the next 4 years.

 

Leeds Grenville is participating in the following program components:

  • Home Ownership
  • Ontario Renovates
  • Housing Allowance

Home Ownership

The purpose of the Home Ownership Component of the Affordable Housing Program is to assist individuals and families by providing a maximum down payment of 5 percent of the purchase price of a home, with a maximum purchase price of $225,000.  The down payment is a forgivable loan. The program requires that the home must be a new build construction or resale home and be the sole and principal residence of the approved homeowner.

 

For more information on the program, eligibility requirements and how to apply, please refer to the Homeownership page.

 

Ontario Renovates

The purpose of this program is to provide eligible households to improve living conditions, foster independent living and improve housing affordability.

 

This program will be available in January, 2013 to residents of United Counties of Leeds and Grenville including the City of Brockville, Town of Gananoque and Town of  Prescott. For more information on the program, eligibility requirements, and how to apply, please refer to the Ontario Renovates page.

 

Housing Allowance

  •  Introduced in 2007 and was previously a component of the Canada-Ontario Affordable Housing Program.
  • Designed to provide adults, families and seniors with short-term assistance, while they wait to be placed through the Social Housing Registry.
  • Rent Supplement is a flat rate based on unit size.
  • Subsidy is only available to persons moving into a vacant unit (i.e. 'in-situ' is not allowed).
  • Funded by the federal and provincial governments.

 

 

Resource Documents

The following reports are available for download:

 

Investment in Affordable Housing (IAH) for Ontario Program

(pdf) - September, 2011

 

Investment in Affordable Housing Recommendations

(pdf) - November, 2011

 

Investment in Affordable Housing (IAH) Program Delivery and Fiscal Plan

(pdf) - January, 2012