Community Housing Incentive Program The Community Housing Incentive Program (CHIP) is a new grant program which provides contributions towards the construction of a non-profit or co-op housing project.
Funded by revenue from the Empty Homes Tax and the City’s capital budget, the $25 million 2019-2022 program provides grants which will increase the affordability of social and co-op housing projects, putting them in a strong position to attract other funders.
CHIP replaces the Housing Infrastructure Grant Program, which from 2015 to 2018:
Applicants are encouraged to seek funding from other levels of government or entities to:
Due to limited program funds, organizations are limited to one project for consideration. Each project will be considered on its own merit.
The grant calculation tool will generate an approximate grant amount that could be applied towards a project. Individual project numbers will be subject to a further financial review and final Council approval. Use the grant calculation tool Excel file (206 KB)
CHIP allows us to provide in-principle funding commitments to projects based on the:
As a project develops, the funding commitment could be adjusted to reflect:
| Unit type | Maximum grant amounts |
|---|---|
| Studio | $35,000 |
| 1 bedroom | $60,000 |
| 2 bedrooms | $100,000 |
| 3 bedrooms | $100,000 |
Grant amounts will only be allocated towards the shelter and Housing Income Limits units in a project. Grants will be calculated based on the projected number of units and affordability breakdown.
All affordable housing projects are expected to be self-sustaining over the long-term.
Projects should not require further operating subsidies, property tax exemptions, or financial guarantees from the City.
Applicants will be asked to describe how their project meets equity, access, and reconciliation objectives to evaluate alignment with our objectives.
The review process will take approximately one month. Applications will be accepted through a rolling intake and will be evaluated independently.
Although we try to provide preliminary grant confirmation early in the process to leverage other funding opportunities, all final grant decisions will require Council approval.
If your project is selected, we'll need to ensure that the grant funds are used for the intended affordability outcomes. Projects must have:
If the above conditions are met, the funds will be released when a building permit is issued for the project.
