RFP-2017-02 - Affordable Housing Units in Lanark County and the Town of Smiths Falls

The Corporation of the County of Lanark (hereinafter referred to as the County), is seeking proposals from proponents wishing to create additional affordable housing units in the County and/or the Town of Smiths Falls either through developing new buildings or through renovations of existing buildings.
The County’s Social Housing department as a Service Manager is responsible for administering capital funds allocated through the Social Infrastructure Fund (SIF).  In our area for 2017, $1,200,000 will be used for projects that will increase the supply of safe, adequate and affordable rental housing.
The SIF Rental Housing component will fund up to 75% of the total capital cost per unit or $150,000 per unit, whichever is less.  Total capital costs include land, financing, hard (construction) and soft costs (consultant fees, design costs) less any HST rebate.  Funding would be provided as a forgivable capital loan.  A successful proponent would be required to commit the new or renovated housing unit(s) to providing affordable housing for thirty (30) years.
Funds may be used for a new build or for renovating existing structures.  Units must be modest relative to community norms in terms of floor space and amenities, with rents at or below 80% of the average market rent for the service area as determined by the Canada Mortgage and Housing Corporation for the entire loan forgiveness period.