Property Assessment Services – Housing Development Incentive Program
no fixed amount
Grant
Description:
The Housing Development Incentive Program consists of phasing-in assessment values on newly constructed apartment buildings with two or more units and existing buildings being refurbished to add more rental units.
The program is for developers and builders of multi-family dwellings aimed at the creation of additional rental units within the province of New Brunswick.
Comments on Funding:
Applications are closed. Stay tuned for future intake announcements.
Eligibility:
Applicants must own properties that meet the following eligibility criteria:
1. The property must be non-owner-occupied and include at least two rental units (newly constructed or vacant existing).
2. Construction costs for existing buildings being converted into multi-unit buildings or adding units must equal at least 20 per cent of the property’s assessed value before work begins.
3. Vacant multi-unit buildings being restored must have been vacant for at least two years.
4. Construction must begin within 12 months of the building permit being issued.
Application Steps:
Applicants must answer the application form online:
https://www.pxw1.snb.ca/snb9000/product.aspx?productid=A001PSN5556&l=e
Documentation Needed:
No specific documentation has been identified
Other Things to Note:
About the author
Maurice
