Atlantic Canada Business Grants

Forgivable Loan

Rooming House Rehabilitation Assistance Program

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:

1

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​​​

Rental Conversion Program

Amount:

No Fixed Amount

Type of Program:

Forgivable Loan

Description:

The Rental Conversion Program provides financial assistance to owners/landlords to convert non-residential properties into affordable self-contained rental housing units and/or bed-units to be occupied by low income households.

Comments on Funding:

Funding is in the form of a forgivable loan. The funding amount is based on the cost of eligible work and the number of eligible units within the project.
The maximum amount for each self-contained unit is $24,000. 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, co-operatives or Municipalities who wish to convert non-residential properties into bona fide affordable permanent rental accommodations,
  • own properties that operate as bona fide rental enterprises,
  • have a legitimate landlord tenant relationship,
  • convert property that will have to contain more than 3 bed units or one or more self-contained units to be rented to occupants with incomes at or below the applicable income threshold,
  • apply a post-conversion rent charge which is at or below levels established by this Department,
  • have a financially viable project upon post-conversion rents.

Application Steps:

1

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:

​Rental Conversion Program

​Rental Conversion Program Guidelines​​​

Rental Residential Rehabilitation Assistance Program (RRAP)

Amount:

No Fixed Amount

Type of Program:

Forgivable Loan

Description:

The Rental Residential Rehabilitation Assistance Program provides financial assistance to owners/landlords for mandatory repairs to self-contained units that are substandard and rented to low income households.

Comments on Funding:

Funding is in the form of a forgivable loan. The funding amount is based on the cost of mandatory repairs and the number of eligible self-contained units in the project.
The maximum amount for each self-contained unit is $24,000.
With the exception of non-profit organizations, owners must contribute 25% of the total cost of 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,
  • own properties that contain one or more self-contained units, rented or intended to be rented to occupants with incomes below the established "income ceilings" set by the Province (this Department) and Canada Mortgage and Housing (CMHC),
  • 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-RRAP rent charge at or below levels established by this Department and CMHC.

Application Steps:

1

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:

​Rental Residential Rehabilitation Assistance Program

​Rental Residential Rehabilitation Assistance Program Guidelines​​​