Get financing through the Canada Greener Affordable Housing program
Post from CMHC read original article here
Highlights
This program provides forgivable and low-interest loans to help finance building retrofit measures and activities needed to meet climate goals. It also supplies contributions for pre-retrofit activities needed to plan, prepare and apply for retrofit funding.
- CMHC will fund 100% of eligible retrofit costs, up to $170,000 per unit (low-interest repayable and forgivable loans combined). Forgivable loans will be the lesser of: $85,000 per unit, or 80% of eligible retrofit costs. Low-interest loans will be available to finance the rest.
- For pre-retrofit activities, the maximum contribution is $130,000 per project.
- The project must be primarily residential and have at least 5 units or beds. Single detached dwellings, duplexes and townhouses must be at least 10 years old. Mid- to high-rise, low-rise and multi-plex buildings must be at least 20 years old.
- Applicants must meet a municipal, provincial, territorial, Indigenous government or CMHC program affordability criteria. Applicants can also follow other affordability criteria such as rent-geared-to-income, low-income, moderate-income, established income or rent limits/thresholds.
Pre-Retrofit Funding
For activities like energy audits, energy modelling studies and building condition assessment reports needed for a Retrofit Funding application.
The call out window is open from June 1 and to June 30, 2023
Pre-Retrofit Funding for multi-unit residential buildings
Get up to $130,000 in contributions for your pre-retrofit activities with Canada Greener Affordable Housing – Pre-Retrofit Funding.
| 2023 Application Call Out Windows |
|---|
| June 1, 2023 to June 30, 2023 |
| November 1, 2023 to January 31, 2024 |
The Canada Greener Affordable Housing – Pre-Retrofit Funding program is an important step in helping Canada reach its goal of net-zero emissions by 2050.
Pre-Retrofit Funding for Canada Greener Affordable Housing provides funding for the activities required to support the preparation of a Canada Greener Affordable Housing – Retrofit Funding application. If you’re applying for the Pre-Retrofit Funding program, you need to plan to complete deep energy retrofits on your residential building(s).
Pre-Retrofit Funding covers activities that allow you to learn more about your building energy performance and what retrofits are required to meet deep energy retrofit targets.
CMHC is accepting Pre-Retrofit Funding applications on a continuous basis from June 1, 2023 to June 30, 2023. Given the tight turnaround time for this fiscal year, applicants should be ready to draw funds beginning October 1, 2023, and aim to complete work by March 31, 2024.
If funds remain following the review of applications received during the call-out window, CMHC may consider re-opening the application portal for additional project submissions on a first come first serve basis until the remaining budget has been committed.
Subsequent Pre-Retrofit Funding application call-out windows will be open for a period of 60 days.
IMPORTANT: If you already completed these activities and have the documentation showing that you can meet the climate objectives, you may be eligible for the Retrofit Funding program.
Retrofit Funding
For deep energy retrofits that will reduce rental buildings energy consumption and greenhouse gas emissions.
The call out window is open from June 1 to July 31, 2023.
Retrofit Funding for multi-unit residential buildings
Canada Greener Affordable Housing – Retrofit Funding provides access to low-interest repayable and forgivable loans for deep energy retrofits of multi-unit residential buildings.
| 2023 Application Call Out Windows |
|---|
| June 1, 2023 to July 31, 2023 |
| September 15, 2023 to December 15, 2023 |
The Canada Greener Affordable Housing – Retrofit Funding program is an important step in helping Canada reach its goal of net-zero emissions by 2050.
This program will address climate capability and resiliency to multi-unit (5+) residential buildings, by providing forgivable loans and low-interest loans to help finance building retrofit measures and activities needed to meet climate objectives, leading to deep reductions in energy consumption and GHG emissions.
Deep energy retrofits include projects that target:
- 70% reduction in energy consumption relative to pre-retrofit performance, and
- 80% reduction in greenhouse gas (GHG) emissions relative to pre-retrofit performance.
CMHC is accepting Retrofit Funding applications on a continuous basis from June 1, 2023 to July 31, 2023. Retrofit work must be completed within 2 years of approval, however, approved forgivable loan funding must be claimed in the same fiscal year as approval. For example: projects approved in the first application window (June 1st - July 31st, 2023), must claim the forgivable loan portion of funding by March 31st, 2024.
If funds remain following the review of applications received during the call-out window, CMHC may consider re-opening the application portal for additional project submissions on a first come first serve basis until the remaining budget has been committed.
Subsequent Retrofit Funding application call-out windows will be open for a period of 90 days.
IMPORTANT: Application submission for Retrofit Funding requires completing pre-retrofit activities, such as energy audit, modelling study and Building Condition Assessment report.
Learn more about the Pre-Retrofit Funding program if you need financial support to complete these reports.
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