Rental Housing Development Charge (DC) Deferral Program

The purpose of this program is to increase the supply of rental housing in the Township’s Central Business Districts (CBDs) and other key sub areas and ensure said residential units are maintained as rental residential units for a minimum of 20 years.

This program will provide a deferral of the Township Development Charge (DC) payable on projects that create new rental residential units. Development Charges for new renta lresidential units will be due and payable in twenty-one (21) annual installments commencing with the first installment payable on the date of occupancy, and each subsequent installment, including interest as provided in the Township's Council approved development charge interest policy, as may be revised from time to time.

Locations in Central Business Districts, Highway Commercial, Mixed Use, Residential, & Residential Transit are eligible to apply for this program.

The Township may establish a maximum total grant that can be paid under this program per application/ property/project.

• renovations to existing rental residential units in a mixed use building to bring these units into compliance with the Building Code, Property Standards By-law and the
  Fire Code.
• conversion of excess commercial and/or vacant space in existing commercial, institutional, mixed use and residential buildings into one or more net rental residential units.
• intensification or redevelopment of an existing commercial, mixed use or residential apartment/multi-unit building that adds one or more net rental residential units.
• infilling of vacant lots (including parking lots) with two or more net rental residential units.

The Township may require the applicant to submit a Business Plan.

All successful applications for this stream of the Community Improvement Plan will require a Financial Assistance Agreement between the applicant and the Township which will be registered on title and will contain a clause that ensures the eligible rental housing units remain as rental housing units for a period of not less than 20 years, and that the grant, including interest, will be immediately due and payable for all units that are no longer rental housing within the 20 year period.

If you are interested in applying to the Community Improvement Plan, please reach out to our Economic Development Department:

Phone: 519.846.9691 x304

Email Us