Release - Popular secondary suites program creates affordable rentals across the region
The County of Simcoe is bringing back their popular secondary suites program to assist in providing critical affordable rentals across the region.
Midhurst/June 23, 2022 – The County of Simcoe reminds residents of its popular secondary suites program, which adds critical affordable rentals across the region. This program provides nearly $1 million in forgivable loans annually across the County of Simcoe to homeowners who wish to create affordable rental secondary suites in their homes or garden suites.
“County Council is committed to investing in targeted strategies that ensure that our residents are not left behind during times when housing markets become more costly,” said Warden George Cornell. “By investing in secondary suites, we know that not only are affordable rentals created, but homeowners benefit too by having additional income to supplement their existing housing costs.”
Forgivable loans of up to a maximum of $30,000 per property are given on a first-come, first-served basis to affordable rental projects on existing properties. Each project must comply with local municipal building permits/approvals and Ontario Building Code requirements, with construction starting within 120 days of project approval. Upon completion of the project, the homeowner agrees to ensure rents remain affordable, based on Average Market Rent as determined by the Canada Mortgage and Housing Corporation for a period of 15 years.
Grants of up to $5,000 are available for permanent modifications to secondary/garden suites to improve accessibility including modifications such as adding wheelchair ramps, chair/bath lifts, height adjustments to countertops, and more. More information on the Secondary Suites Program can be found at simcoe.ca/secondarysuites.