Program is made possible through the Investment in Affordable Housing (IAH) program, which is funded by the federal and provincial governments.
Get your copy of Directory Forgivable Canadian Real Estate Grants now at www.GovernmentGrantsCanada.ca
The Ontario Renovates Program Brantford Program offers financial assistance to low to moderate income families to:
Repair their home to bring to acceptable standards
Increase accessibility of their unit through modifications and/or adaptation
WHO IS ELIGIBLE?
You may be eligible for the Ontario Renovates Program Brantford Program if:
Your total household income is at or below the following thresholds for the Brant – Brantford area:
One bedroom (single or couple) – $33,5000
Two bedroom (single or couple with one child) – $41,000
Three bedroom (single or couple with two children)- $50,500
Four bedroom (single or couple with three or more children) – $61,500
You own a home that is your sole and principle residence with an assessed value of $200,000 or less
Household assets must be below $30,000 (which includes investments, stocks, bonds, shares, securities, RRSPs, GICs, Credit Union accounts, annuities, etc.)
Your house needs repairs or modifications in one of the following areas: structural, heating, electrical, fire safety, plumbing or accessibility.
Property taxes and mortgage payments are up to date
Insurance coverage is in place for the full market value of the home
HOW MUCH FINANCIAL ASSISTANCE MAY YOU RECEIVE?
Households are allowed one application under the Ontario Renovates Program Brantford Program. Funding is provided as a fully forgivable loan, which is written off at an equal rate over a 10 year period. The loan is not repaid if the homeowners remain as owners and live in the home during the 10 year forgivable period.
WHAT REPAIRS CAN BE DONE?
To qualify, existing homes must need repairs to bring them up to a minimum level of health and safety, and/or permanent modifications to increase accessibility for the occupant's disability. All repair work must include energy-saving products where possible.
Examples of eligible repairs include:
Structural (including building exterior such as roofs, foundations or walls)
Plumbing, fire safety, electrical and/or heating
Examples of eligible accessibility work include:
Ramps, Handrails, Chair and bath lifts, and
Height adjustments to counter tops.
http://www.brantford.ca/Housing%20%20Social%20Services%20%20Documents/FACTSHEET%20-%20Ontario%20Renovates%202017-18.pdf
For more information, contact: Jeff Lowe at 519-759-3330, ext 6240 or e-mail at jlowe@brantford.ca
DISCLAIMER
We believe the information contained in this article to be accurate.It is presented with the understanding that we are not engaged in
rendering legal,accounting, or investment advice. When professional assistance is required, utilize the services of a licensed real estate
broker, lawyer, accountant, or other consultant as may be required.
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