The District of Muskoka has announced that funding is now available for those looking to build affordable rental housing in the community.
The District’s 2024 tax-supported budget sets aside $4.2 million to support housing and homelessness, including the District’s Muskoka Affordable Housing Initiatives Program (MAHIP).
Through MAHIP, the District offers capital incentive funding which provides developers, builders, and homeowners funding to construct affordable rental housing – whether that involves new constructions, renovations, or conversions as long as new units are created.
“District Council knows people across Muskoka need homes they can afford, from rental apartments to lower-cost family homes. We’ve made a record funding commitment to MAHIP for 2024, to get more affordable homes built faster. This is our call out to the development community and non-profit and charitable partners to submit your projects – let’s get shovels in the ground!” noted District Chair, Jeff Lehman in a press release issued today, January 10, 2024.
According to the District, applicants could receive funding of up to $100,000 per rental unit. The amount would be determined by the length of time the applicant commits to renting the unit at an affordable rate.
For more information or to apply, click HERE.
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