The District of Nipissing Social Services Administration Board (DNSSAB) is expanding its residential housing renovation program to create more affordable housing units in Nipissing District.
This program provides up to $50,000 to eligible homeowners to create an additional dwelling unit in the homeowner’s primary residence or on the property lot, where permitted by the municipal by-laws.
Under the program, DNSSAB will provide 75 per cent of the associated costs, to a maximum of $50,000 through a forgivable loan. Over the loan's term, the homeowner will provide an affordable rental to an eligible tenant of their choosing.
“The recent Housing Needs and Supply Study showed us that all Nipissing District municipalities need more affordable units and this is one way to begin addressing that need, particularly for single units, through the addition of secondary suites," says DNSSAB Chair Mark King. "This program will not only benefit those requiring affordable rental units, but will also benefit existing homeowners, and the respective municipalities,”
The program is designed to increase the supply of affordable rental units throughout Nipissing District while supporting various benefits to existing homeowners including increased home value, ongoing rental revenue, and the flexibility to choose the tenant for the newly created unit.
In the first year of the program, projects will be targeted in each municipality that allows additional dwelling units, on a first-come, first-served basis.
To learn more about the program, including eligibility requirements and how to apply, contact [email protected] or call 705-474-2151 x45587.
