Housing Grants in the Town of Blue Mountains
Have you heard of The Blue Mountains Attainable Housing Corporation?
It is a not-for-profit corporation, established in 2014 and wholly owned by the municipality. According to their website, the purpose of the Corporation is, “to augment the supply of healthy and sustainable ownership housing units in The Blue Mountains which are affordable to a larger portion of the population that would like to live here, but just can’t afford to do so.”
They have two initiatives:
– Providing financial assistance for the purchase of a home through a downpayment assistance program to first-time buyers who have net assets and incomes of less than $100,000. The program is designed to provide these first time home purchasers with a loan of up to 5% of the purchase price of a home that does not exceed the purchase price of $400,000. Program funds are available January 1st annually until funds are exhausted.
– Providing grants for the creation of secondary suites which are available to a homeowner, one time only, and can provide financial assistance in the form of a grant of 10% of the cost to create a secondary suite to a maximum of $5000. They just delivered their first cheque.