The City of Kingston is offering the Secondary Suites Affordable Housing Grant Program to stimulate homeowner investment to create alternate housing options within the City. If you qualify for this program, you must commit to renting the suite at an affordable rate for an agreed upon period of time and rent to a household that meets a certain household income criteria.
The program includes two different funding streams:
Secondary Suites Municipal Fee Rebate– this stream provides a forgivable loan for projects within areas of the City where Planning applications are required to permit a secondary suite. Eligible expenses include required municipal application fees of up to a maximum $7,000. Forgiveness of the loan is dependent on providing the unit at an affordable rental rate to an income qualified household for a minimum one year affordability period.
Secondary Suites Affordable Housing Grants– this stream provides a forgivable loan of the lesser of $15,000 or 75% of the costs associated with developing a secondary suite. Funding will be provided to owner-occupied households who create a secondary suite and commit to providing the unit at an affordable rental rate to an income qualified household for a minimum five year affordability period.
Improve the energy efficiency of your home and receive up to $2500 of your renovation costs back. Other benefits of improving your homes energy efficiency is that you can decrease your energy bill up to 20% per year as well as increase the attractiveness of your home to future buyers.
This rebate allows you to get part of your GST or HST back when you build or buy a new home OR substantially renovate your existing house. Houses above $450 000 in market value do not qualify for this rebate.
Get a 10% refund on the cost of your mortgage loan insurance when you buy an energy efficient home, purchase a home and make energy-saving renovations, or renovate your existing home to make it more energy efficient. You can also get extended amortization up to 40 years through this program.