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:
- Supported 10 projects
- Provided $10.8 million in grants
- Enabled the delivery of 780 non-market homes
How to apply
- Complete the application form Word file (136 KB)
- Complete the applicant portfolio list Excel file (60 KB)
Applicants are encouraged to seek funding from other levels of government or entities to:
- Ensure project viability
- Align with CHIP’s objective of delivering deeper affordability in social or non-market housing projects
There is no limit on the number of projects an organization may put forward for consideration, but each project will be considered on its own merit.
Calculate a grant estimate
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)
Funding
CHIP allows us to provide in-principle funding commitments to projects based on the:
- Proposed number of homes
- Type of homes
- Proposed affordability levels
- Funding amount required
As a project develops, the funding commitment could be adjusted to reflect:
- Changes to project specifics including number or type of homes
- Additional funding partner contributions
- Updated cost assumptions
- Updates to the affordability levels
Maximum funding for each unit type
| 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.
Eligibility
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.
Review and selection
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:
- Council approval
- Execution of a grant agreement by the non-profit or co-op and the City
- Registration of a Housing Agreement to secure affordability level of all homes for most projects
- Confirmation of funding or financing sources for the development
If the above conditions are met, the funds will be released when a building permit is issued for the project.
