Deadline: 26-Mar-25
The City of Richmond is requesting applications for the Housing Priorities Grant Program.
Funding Streams
- This program offers two funding streams:
- Non-Profit Organizations and Cooperatives: Grants to cover City development fees or early-stage feasibility costs for non-profit organizations and housing cooperatives that build, own, and manage affordable rental housing.
- The two funding options made available to NPOs and Co-ops include funding for:
- build-ready projects, for which funding can be used to offset City fees and charges; and
- early-stage projects, for which grant funding can be used towards project conceptualization and the technical due diligence necessary to advance development approvals and permitting.
- The two funding options made available to NPOs and Co-ops include funding for:
- For-Profit Home Builders: Development Cost Charge offsets for homebuilders who build more than any minimum required supply of affordable rental housing.
- Non-Profit Organizations and Cooperatives: Grants to cover City development fees or early-stage feasibility costs for non-profit organizations and housing cooperatives that build, own, and manage affordable rental housing.
Funding Information
- Non-Profit Organizations and Cooperatives:
- Funding Stream 1A – Build-Ready Projects: The lower of $40,000 per affordable rental home or the total of all Eligible Fees.
- Funding Stream 1B ̶- Feasibility Funding for Early-Stage Projects: One-time grants of up to $50,000 per development.
Project Eligibility
- Non-Profit Organizations and Cooperatives:
- Funding Stream 1A – Build-Ready Projects
- The following must be met to be eligible for Grant Funding 1A:
- Project has conditional approval for a development application (i.e. third reading of a rezoning amending bylaw) and / or Council approval of the issuance of a development permit; and
- The grant applicant is the NPO or Co-op owner of the conditionally approved development application; and
- Eligible costs will be incurred before December 14, 2027.
- The following must be met to be eligible for Grant Funding 1A:
- Funding Stream 1B ̶- Feasibility Funding for Early-Stage Projects
- The following must be met to be eligible for Grant Funding 1B:
- The project is not eligible for funding through Grant Funding 1A; and
- The project will result in increased ownership of affordable rental housing for the applicant; and
- The applicant has secured feasibility-related funding from another source(s), including, for example, BC Housing, the Canada Mortgage and Housing Corporation (CMHC), or private lending agencies such as the VanCity Community Foundation.
- The following must be met to be eligible for Grant Funding 1B:
- Funding Stream 1A – Build-Ready Projects
- For-Profit Home Builders:
- The following must be met to be eligible for funding :
- The applicant is a business or other for-profit entity not eligible for grant funding from the City; and
- The project involves the voluntary construction of new affordable rental housing; and
- The proposed project has conditional approval for a development application (i.e. third reading of a rezoning bylaw) and/or a development permit issued; and
- Eligible DCC costs to be offset will be incurred before December 14 2027.
Eligibility Criteria
- Non-Profit Organizations and Cooperatives:
- All applicants must meet the following criteria:
- The applicant is a Not-For-Profit Organization compliant with the Societies Act or a Cooperative as specified by the Cooperative Association Act. Equity or Homeownership Cooperatives are ineligible as this organizational structure allows private ownership; and
- The applicant will own the proposed affordable homes enabled by funding.
- All applicants must meet the following criteria:
For more information, visit City of Richmond.
