Housing Accelerator Fund

Multi-Family Tax Grant Program approved October 28, 2024

What is the program?

• The Multi-Family Tax Grant program applies to new row house and plex type housing development
• A grant of $3800 is credited to the tax account for approved properties
• Grant is a first come first served time limited offering
• View more details on page 205 of the Oct 28, 2024 Council Meeting Agenda

When is the program open?

• Applications accepted as of Nov 1, 2024

How to apply?

• Complete the Multi-Family Tax Grant application form
• Copy of approved building permit issued after November 1, 2024 (developments that have been issued building permits before November 1, 2024 are ineligible for the program)
• Confirmation that property taxes are up to date
• If application is approved the applicant will be required to enter into an agreement outlining the terms and conditions of the grant
• For full details on program criteria and eligibility download the Multi-Family Tax Grant Policy

Waterfront area redistricting

Council approved 1st reading of Bylaw 1908/2024 for the Waterfront area redistricting on November 25, 2024 and a public hearing is scheduled for January 13, 2025. Fulfilling the recommendation in the IMAGINE SYLVAN Sustainable Waterfront Area Redevelopment Plan the direct control districts in the Waterfront area are being replaced with more standardized land use districts. This will help streamline the approval process for development in this area and support the HAF objective to build more homes faster. View the November 25 Council meeting report (page 83).

What is the program?

• The Apartment Incentive Program applies to new mid-rise apartment building development
• The incentive is a grant that is equivalent to the building permit fees for the project

When is the program open?

• Applications are accepted from July 9, 2024 - January, 10 2027

How to apply

1. Apartment Incentive Program applications are accepted at the time of building permit application with an approved valid development permit
2. Permit fees must be paid in full before an Apartment Incentive Program application is accepted as complete
3. Confirmation that property taxes are up to date
4. The applicant will be required to enter into an agreement outlining the terms of the grant once the building permit is approved
5. Download program eligibility criteria
6. Application form

Questions?

• Contact Trina Lamanes, 403 877 2141

The Housing Accelerator Fund project is moving forward! Here are is the most recent updates on progress towards the plan:

As part of our Secondary Suite Opportunities Initiative, the Town of Sylvan Lake is hosting an open house!

Why?

• Learn more about the proposed changes to the Land Use Bylaw that are recommended to support more opportunities for secondary suite development
• Talk to our land use planners and ask questions or provide feedback on the changes
• Learn about the Housing Accelerator Fund grant and what it means for Lakers

When?

• Wednesday May 29, 2024
• 4:30 PM - 7:30 PM

Where?

• Seniors Centre at the NexSource Centre
• 4823 49 Ave, Sylvan Lake, AB T4S 1M6

Can't Join us in Person?

• Register and submit your questions in our Ask and Answered section!
  

Questions about something else?

• Click here to ask!

On March 25, Council authorized Administration to allocate the first funding advance of $1,371,357.50 to support the implementation of the Housing Accelerator Action Plan:

• Check out the report in the Council agenda on page 114

The Town of Sylvan Lake is one of six Alberta communities receiving funding from the Government of Canada to address housing challenges.

"I am thrilled that our community has been awarded this support from the Government of Canada through the Housing Accelerator Fund. This significant investment will revolutionize the landscape of housing in Sylvan Lake, not only for the duration of the program but for generations to come. With this incredible support, we can streamline application processes, offer incentives for the development of diverse housing products, and extend assistance to both non-profit and private sector developers in constructing new affordable units.

At the heart of all of this is our unwavering belief that everyone deserves a place to call home. This grant will allow us to fulfill this fundamental right for more Sylvan Lakers in the years ahead. Together, we are building a future where secure housing is within reach for all members of our community." - Mayor Megan Hanson, Town of Sylvan Lake

Visit the CMHC website for full details on this announcement.