Housing Accelerator Fund – New Construction Grant Policy P2024-06 — full text

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HOUSING ACCELERATOR FUND - NEW CONSTRUCTION GRANT POLICY Policy Number P2024-06 Classification ADM Effective Date 2024-06-17 Approval Authority Council Supersedes N/A Mandated Review 2027 1. PURPOSE The purpose of the Housing Accelerator Fund New Construction Grant Policy (hereinafter referred to as the "Policy") is to encourage the construction of new housing units during the Housing Accelerator Fund (HAF) program period (2024-2026). This Policy aims to promote the construction of higher density multi-residential buildings and "missing middle" housing forms, as defined below. The City's Housing Needs Assessment has identified a strong immediate demand for affordable studio and 1-bedroom rental units to accommodate students, migrant workers, and younger individuals. As such, grant contributions will be higher for projects that are located in proximity (~20 min walk) to CCNB's College Street campus, the Chaleur Regional Hospital, and the City's downtown core. The approximate boundaries of these three strategic zones are defined in Schedule A. 2. SCOPE a) This Policy applies to property developers, both private and non-profit, who are proposing to build new housing units in the City of Bathurst. The Director of Economic Development, or designate thereof, is responsible for administering this Policy and is authorized to update the boundaries of the strategic zones defined in Schedule A as required. 3. DEFINITIONS (1) ADU means an accessory dwelling unit. An ADU is a separate housing unit which occupies the same lot as an existing primary residence. An ADU may be attached to a house or a garage, or may be built as a standalone unit, but must have its own kitchen, living area, and separate entrance. An ADU will generally make use of the water and electrical connections of the primary residence. (2) CMHC means the Canada Mortgage and Housing Corporation. (3) HAF means the Housing Accelerator Fund. (4) HOUSING NEEDS ASSESSMENT means the report prepared by KPMG to analyse both the Chaleur Region's and the City's existing housing stock and provide a reasonable estimate of the number and types of housing units needed to meet current and future demand. (5) HOUSING UNIT means a dwelling type that corresponds to a residential building code as defined by Statistics Canada. (6) MISSING MIDDLE HOUSING means ground-oriented housing types that include duplexes, triplexes, fourplexes, row houses, and low-rise apartment buildings (four storeys or less). (7) NET NEW UNIT means a housing unit that increases the City's overall housing stock. (8) NON-PROFIT DEVELOPER means a charitable, or non-profit organization or corporation, or housing cooperative, where no part of the income is payable to, or otherwise available for, the personal benefit or any proprietor, member, or shareholder. (9) PRIVATE SECTOR DEVELOPER means any developer or person that provides housing that does not fit within the definition of a Non-Profit Developer. (10) STR means short-term rental. An STR is a dwelling unit, or part thereof, that is used mainly for the reception of the travelling or vacationing public and is provided as temporary accommodation for compensation. 4. POLICY STATEMENT 1. GRANT AMOUNTS AND DISBURSEMENT a) Grant Amount: Grant Per Unit Base Amount Strategic Zone Bonus Total Potential Grant Per Unit New Construction $15,000 $5,000 $20,000 b) Applicants must complete and submit an application form to the Director of Economic Development following the issuance of a building permit, prior to the commencement of any construction work. c) Applications will be processed in order of receipt. d) Grant funding is dependent on the receipt of federal funding from the HAF program. Despite the approval of an Application, scheduled disbursements may be delayed pending the receipt of the City's annual advance from the CMHC. Disbursements may be cancelled at the discretion of the Director of Economic Development, or designate thereof, where there is indication that HAF funding is depleted or will be revoked. e) Successful Applicants must enter into a Grant Agreement with the City of Bathurst. f) Grants will be disbursed as follows: i. Fifty percent (50%) upon confirmation from the building inspector that the structural inspection (foundation, framing, and roof) has been completed. ii. Fifty percent (50%) upon confirmation from the building inspector that the final building inspection has been completed and that all other conditions of the Grant Agreement have been met. iii. Disbursement terms may be adjusted, at the discretion of the Director of Economic Development or designate thereof, in circumstances where a strong business case is presented and accepted. g) Grant Agreements will expire if construction has not begun within 6 months of the issuance of the building permit. 2. ELIGIBILITY a) This Policy applies only to developments that have a building permit dated after the January 31, 2024 signing of the HAF contribution agreement between the CMHC and the City of Bathurst. b) Project must be located in the City of Bathurst. c) Projects with access to municipal services will be prioritized. d) The Applicant must provide proof of sufficient funding to complete the construction. e) Housing units that benefit from a grant contribution through this Policy must be used for long-term tenancy. f) Grants from this Policy cannot be combined with other HAF funded policies offered by the City. g) Grants from this Policy can be used in conjunction with other Provincial or Federal housing incentive programs. h) Ineligible projects include: i. Single Family Homes, including Seasonal Homes ii. Nursing Homes iii. Special Care Homes iv. Student housing with shared amenities v. Short-term Rentals (STRs) vi. Secondary suites including Accessory Dwelling Units (ADUs) vii. Rooming Houses viii. Hostels ix. Shelters x. Projects that are fully funded (100%) by other government agencies or entities xi. Projects consisting of renovations and/or building conversions i) Where the property for which an Application has been submitted is found to be in violation or contravention to any City of Bathurst by-law or is subject to any outstanding work orders or any other enforceable procedures of the City of Bathurst or any other governmental authority, the application may be refused or pending grant disbursements may be cancelled. 3. EXPIRY OF POLICY a) Grant funding is dependent on the receipt of federal funding from the HAF program. Despite the approval of an Application, scheduled disbursements may be delayed pending the receipt of the City's annual advance from the CMHC. Disbursements may be cancelled at the discretion of the Director of Economic Development, or designate thereof, where there is indication that HAF funding is depleted or will be revoked. 5. RELATED POLICIES - Housing Accelerator Fund - Non-Residential Building Conversion Grant Policy 6. RELATED DOCUMENTS - Grant Agreement (HAF) - Grant Application Form (HAF) 7. REVISION HISTORY Date (mm/dd/yyyy) Description of Change Sections Person who Entered Revision (Position Title) Person who Authorized Revision (Position Title) SCHEDULE A SCHEDULE A SCHEDULE A