Housing Accelerator Fund

We've received funding through the Housing Accelerator Fund (HAF) from the Canada Mortgage and Housing Corporation (CMHC) and the Government of Canada. Sylvan Lake will receive $5,485,430 to address housing affordability and challenges within our community. As this project evolves, we'll post details as we begin work on each part of the action plan.

Great! What does this mean?

By receiving the HAF Funding, the Town has committed to implementing the approved Action Plan that includes seven initiatives that will help build more homes faster in Sylvan Lake. The Action Plan’s initiatives include:

• Providing financial incentives for targeted housing types
• Streamlining application processes
• Amending the Land Use Bylaw to increase opportunities for the development of secondary suites
• Replacing direct control districts supporting diverse types of housing development in our downtown.

What is the Action Plan?

The Action Plan has seven proposed initiatives and a rough timeline:

1. New permitting software: to support digital processes and streamlined application processes
2. Direct Control Rezoning: Council approved replacing the Waterfront Direct Control District and DC-50 with standardized land use districts that provide applicants with clear regulations and greater approval certainty
3. Apartment Incentive Program: intended to support the development of new apartment projects by refunding permit fees to developers making their projects more financially feasible. Applications are accepted from July 9, 2024 - January 10, 2027
4. Amendments to the Land Use Bylaw: supporting more opportunities for secondary suite development
5. Secondary Suite Loan Program: provide interest free loans to qualified applicants to construct secondary suites in new or existing dwellings
6. Multi-Family Tax Grant Program: offers a municipal tax exemption grant for "missing middle" housing (attached housing types)
7. Dollars for Doors Program: providing a grant accessible to non-profit housing providers and private sector developers for each affordable unit built
8. Reduced Parking Standards: lowers the minimum parking requirements for new apartment type housing developments
9. Housing needs assessment: a study to help us understand current and future housing needs in our community

When?

• The seven parts of the HAF action plan are completed in stages
• These dates are TBD
• View the rough timeline for each stage in the action plan
• 15 Aug, 2023: Application Made for Housing Accelerator Fund (HAF)
• 19 Feb, 2024: HAF Announcement
• March 25, 2024: Council authorized Administration to allocate the first funding advance of $1,371,357.50 for the Housing Accelerator Action Plan (Page 114)
• July 8, 2024:
  • Council approved the changes to the Land Use Bylaw to support more opportunities for secondary suite development (Page 104)
  • Council approved the Apartment Incentive Grant Program (Page 142) and applications are open
• Scroll down to the Have Your Say section for open houses and public engagement dates

Learn about the project

• Ask questions about this project here
• Get project news