Rooming House Rehabilitation Assistance Program - Atlantic Canada Business Grants

Amount:

No Fixed Amount

Type of Program:

Forgivable Loan

Description:

The Rooming House Rehabilitation Assistance Program provides financial assistance to owners/landlords for mandatory repairs to rooming houses with bed units that are affordable to low income occupants.

Comments on Funding:

Funding is in the form of a forgivable loan. The funding amount is based on the cost of the mandatory repairs and the number of eligible beds in the applicant's rooming house or hostel.
The maximum forgivable loan per bed unit is $16,000.
With the exception of non-profit organizations, owners must contribute 25% of the total mandatory repairs.

When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

The applicant must:

be New Brunswick private entrepreneurs, non-profit corporations, or housing co-operatives that are not receiving any government housing assistance,
own properties that operate as bona fide rental enterprises and that are intended to serve as permanent accommodation;,
own properties that are rooming houses or hostels containing more than three bed units which are rented to people not related to the owner,
own a property that is at least five years old and lacks basic facilities or requires major repair in one of the following areas: structural, heating, electrical, fire safety, plumbing,
complete all mandatory health and safety repairs,
apply a post-rehabilitation rent charge at or below levels established by this Department and Canada Mortgage and Housing (CMHC).

Application Steps:

Applicants must contact the housing office of the Department of Social Development in their area for further details.
All approved applicants must enter into a rental agreement to ensure that rents remain affordable to low-income occupants during the earning period of the loan.

Program Contact:

Rooming House Rehabilitation Assistance Program

Rooming House Rehabilitation Assistance Program Guidelines

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