Housing Accelerator Fund

A Housing Needs Assessment is a study that helps the municipality understand current and future housing needs in the community. It provides data on housing supply, demand, affordability, and gaps, guiding local planning and policy decisions to support diverse and appropriate housing options.

• Check out the assessment here.
• Council report (pg 120-217)

Questions about the Housing Needs Assessment?

• Ask here

What is the program?

• The Secondary Suite Loan Program offers up to a $30,000 no interest loan for the development of a new secondary suite or garage suite
• Loans are offered to eligible applicants on a first come first served basis until the available funding has been exhausted or the program has been discontinued
• The program is managed by the Homes for Sylvan Foundation
• View more details on page 132 of the March 24 Council Meeting Agenda

When is the program open?

• Applications are accepted as of April 15, 2025

Who can apply?

• Only the registered landowner(s) may access the loan program

How to apply?

1. Ensure you read the program criteria before applying
2. Complete the Secondary Suite Loan Program application ensuring all required information is provided. Incomplete applications will not be processed.
3. Submit the application fee
4. A credit check and confirmation of income will be required
5. Applications may be accepted at time of building permit application with a valid development permit
6. Secondary suites with a building permit issued prior to April 15 are not eligible for the program
7. If approved the landowner will be required to enter into a loan agreement and secure the loan via a mortgage registered on title
8. Submit application fee (to keep administrative costs down only cash or check payable to the Homes for Sylvan Foundation will be accepted)
9. Download program eligibility criteria
10. Application form

Questions?

• tlamanes@sylvanlake.ca

Council approved the revised action plan (pages 113-122) including the addition of the Reduced Parking Standards initiative. Plus, as one of 27 top performing municipalities across Canada, the Town received an additional $540,000 to implement an additional initiative approved by CMHC to achieve an additional 20 apartment style housing units.

Annual Report

• As part of our Housing Accelerator Fund agreement, the Town must submit an annual report on the progress we are making in achieving our housing targets
• The report must be made public
• View more details in the April 28, 2025 Council Meeting Agenda (page 113)
• View the report here

The Canadian Mortgage and Housing Corporation (CMHC) is awarding the Town with an additional $540,000 to support housing challenges in Sylvan Lake. The funding comes from the CMHC Housing Accelerator funding. Council accepted the funds during a special Council meeting on March 18, 2025.

Why did we get the extra funding?

The extra funding is available thanks to the success of the Town's Housing Accelerator Fund (HAF):

• The Town made strong progress in meeting the housing targets outlined in our initial HAF agreement
• The Town is committed to approving more housing units through a new initiative under our Housing Accelerator Action Plan

Progress Updates

• We'll present a Housing Accelerator Action plan update to Council in April, including a detailed report on the Town's progress in the first year

Learn More

• Government of Canada awards $74 million to top-performing Housing Accelerator Fund communities

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

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

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!

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.