Seed Funding
$500,000.00
Grant, Loan
Description:
Financial assistance to help community housing providers with the costs of early development activities related to the predevelopment costs of building a new affordable housing project or renovating an existing affordable housing project.
Comments on Funding:
CMHC’s Seed Funding program provides financial support for individuals or organizations involved in the initial phases of creating an affordable housing project. You can apply for up to $350,000 in interest-free loans and a maximum of $150,000 of non-repayable contributions to assist with early development expenses. These expenses can include things like the formulation of a business plan, creation of preliminary design concepts and conducting environmental site assessments.
Continuous Intake
Eligibility:
Applicants must be:
1. community housing providers, such as public or private non-profit housing organizations or rental co-operatives, including those serving Indigenous and/or northern populations
2. municipal, provincial and territorial governments, including their agencies and those serving Indigenous and/or northern populations
3. Indigenous governments and organizations, including First Nation bands and tribal councils
4. private entrepreneurs/builders/developers
Application Steps:
Applicants must sign up using the application form.
The application form will consist of several questions over several pages. You can see your progress through the steps of the application at the top of each page. As you move forward through the application, the completed pages will be saved automatically. Partially completed pages – those that are missing required fields – will not be saved.
You may leave the application portal and return later. Your application progress will be saved.
Documentation Needed:
Applicants must submit:
Mandatory Documents
1. Integrity Declaration (PDF)
2. Proof of Incorporation
3. Copies of any consultant or agent agreements (if applicable)
4. CMHC Viability Assessment (XLSX)
5. Financial Statements
6. Land status OR Proof of ownership, if applicable
Supporting Documentation
1. Proponent Organization and Development team’s relevant experience
2. Determination of Need and Demand
3. Determination of Affordability (if MMR is not used to determine affordability)
4. Confirmation of Funding Sources
5. Re-zoning and Environmental Site Assessment (if available)
6. Accessibility and Environmental Efficiency targets
7. Identification of Priority Groups and Onsite Support Services
8. Security details and Lawyer contact information (if required)
Other Things to Note:
Due to overwhelming demand, the Seed Funding Contribution budget for 2024 has been fully allocated. Applications for interest-free loans will continue to be accepted.
About the author
Maurice
