Edmonton Secondary Suites, Garage and Garden Suite Grants

Marnie

Frequent Forum Member
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REIN Member
Oct 6, 2016
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#1
If you have investment properties in Edmonton and you are interested in building or upgrading a secondary suite this year, check out the second phase of the successful Cornerstones plan offered by the City of Edmonton.

Cornerstones II, underway until the end of 2016 includes grant funding to the popular Secondary Suites program, as well as the new Housing Opportunities Program for Edmonton (HOPE) and the Curb Appeal Program.

To upgrade an existing suite, the basic parameters of eligibility for a homeowner (applicant) include:
• Fund at least 50% of the eligible costs (without relying on other government funding)
• Be the owner of the principal residential unit where the proposed suite upgrade is in
• If the suite is currently rented, the existing tenant, regardless of income, will be permitted to remain in an upgraded suite
• If the suite is not currently rented, it must be rented after the upgrades, to an eligible tenant earning within the maximum income threshold by household size in the city of Edmonton.
• Sign and commit to fulfill the terms and conditions of a five-year operating agreement
• Have no tax arrears on the property
• Hold title or have valid offer to purchase

If you are planning to build a new suite, these are the basic parameters of eligibility for a homeowner (applicant):
• Fund at least 50% of the eligible costs (without relying on other government funding)
• Be the owner-occupier of the principal residential unit where the suite is proposed
• Rent the secondary suite to an eligible tenant earning within the maximum income threshold by household size in the city of Edmonton
• Sign and commit to fulfill the terms and conditions of a five-year operating agreement
• Have no tax arrears on the property
• Hold title or have valid offer to purchase

The Information Guides/Application Forms for either upgrading an existing suite or building a new suite has a more complete set of eligibility criteria, funding parameters and operating terms and conditions. Go to the website with this link for all of the details, FAQs, documents and more.
 
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