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Twice the Great News for Attainable Housing: New Down Payment Assistance Program Announced and Secondary Suites Program Presents First Cheque

19/06/17
Watch CTV on June 19th to Hear More! The first participants in the Secondary Suite Grant Program, the first program offered by the Corp., will receive their cheque Tuesday, June 20th!

Launch of New Down Payment Assistance Program

First time purchases of homes in the Town of The Blue Mountains who would like to obtain assistance in the purchase of their home may now apply for an interest free loan of up to $20,000.

The Down Payment Assistance Program is being provided through The Blue Mountains Attainable Housing Corporation.  This program is designed to give those wishing to live in The Blue Mountains, but just can’t afford to do so, a hand up into home ownership in the Town.

In addition to the newly implemented Down Payment Assistance Program, the Corporation also implemented a Secondary Suite Grant Program last year. Our first cheque will be presented to Meg and Mike Boyd at their home in the Town of The Blue Mountains 236681 Grey Road 13 at 5:00pm on June 20th, 2017.

“It’s great to see the first secondary suite completed, and the first cheque on its way,” said Mayor John McKean. “Getting the Secondary Suites program off the ground and money flowing to homeowners is very rewarding. With the announcement of the issuance of the first Secondary Suite Grant and the new Down Payment Assistance Program, we now have two programs that will help solve the housing challenge.”

Funding for both programs is limited and will be available on a first-come, first-served basis. For further information about the Down Payment Assistance Program as well as the Secondary Suite Grant Program, you may contact The Blue Mountains Attainable Housing Corporation at info@thebluemountainshousing.ca or the Town’s Planning and Development Service Department at 519-599-3131 Ext 248.

 

Additional information can also be obtained on our website at http://thebluemountainshousing.ca

 

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About the Attainable Housing Corporation

In January 2014 the Town of The Blue Mountains established a not-for-profit Corporation 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.  This is not a social housing program, which is handled by Grey County, rather it is a program that is designed to foster a school full of children supported by their

parents and grandparents or individuals, all living in the vibrant, diverse community of The Blue Mountains.

The Board is comprised of seven Directors, two of whom are sitting members of Council, the balance are residents of the Town of The Blue Mountains.

The Blue Mountains Attainable Housing Corporation is uniquely positioned to act as an advocate, catalyst and provider of attainable housing programs, both rental and ownership. We have the community-based leadership, the knowledge base in planning and zoning, and municipal resources that can be utilized as a starting point for action.

About The Down Payment Assistance Program

The Down Payment Assistance Program is designed to provide first time home purchasers in the Town of the Blue Mountains with a loan, up to 5% of the purchase price, to assist them in purchasing their own home. The program assists eligible applicants in the purchase of a home that does not exceed the purchase price of $400,000.  Program funds are available January 1 annually until funds are exhausted. Further details are available on our website.

About the Secondary Suites Grant Program

This program provides financial assistance in the form of a grant of 10% of the cost to create a secondary suite to a maximum of $5000. The goal of this program is to:

  • Increase the number of affordable rental units in the Town
  • Provide homeowners with an additional revenue stream that may allow them to stay in their homes longer as costs for maintaining a home rise

Details on qualification and eligible expenses are available on our website.

 

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