Notice of a Public Meeting on an Affordable and Sustainable Housing Community Improvement Plan

TAKE NOTICE THAT the Town of Penetanguishene is considering a new Community Improvement Plan (CIP) for Affordable and Sustainable Housing under Section 28 of the Planning Act, R.S.O. 1990. 

AND TAKE NOTICE that Council of the Town of Penetanguishene will hold a Public Meeting on Wednesday, April 10, 2024, at 7:00 p.m. or as soon thereafter as the matter can be dealt with in the Council Chambers Townhall, 10 Robert Street West, Penetanguishene. 

DESCRIPTION OF PROPOSED COMMUNITY IMPROVEMENT PLAN 

The proposed Affordable and Sustainable Housing Community Improvement Plan provides for financial incentives for the creation of affordable housing and sustainable housing in the Town. The proposed Community Improvement would apply to the entire municipality. Here are some details of the proposed incentive programs: 

Tax Increment Equivalent Grant (TIEG) Program 

The purpose of this program is to increase the overall number of purpose-built rental housing units throughout the Town by providing a grant that reduces the property tax increase that typically results from development and/or redevelopment projects.  

Surplus Land Program 

This program is to identify and prioritize the utilization of surplus municipal lands for developments that include the provision of affordable housing, and for lands where residential development is unfeasible, to prioritize the sale of the land to fund the reserve fund used to fund the Town’s CIP Programs.  

Planning and Building Permit Fee Program 

The purpose of this program is to promote the development of purpose-built rental housing and sustainable housing by offsetting the costs associated with fees for planning and building applications.  

Renovations for Rental Housing Program 

The grant may cover eligible project costs up to a maximum of $15,000 in funding for the repair or renovation of existing rental housing.  

Affordable and Sustainable Housing Feasibility Study Program 

The purpose of this grant is to support housing providers to evaluate the feasibility of developing affordable and/or sustainable housing units and/or projects.  In both cases, a grant equal to 50% of the cost of studies or plans up to a maximum of $20,000 in funding will be available.  

Additional Dwelling Unit Program 

The purpose of this program is to provide financial assistance to offset the construction costs associated with renovating an existing dwelling or accessory building to include a new Additional Dwelling Unit within the principal dwelling or an existing accessory building. The grant may cover eligible project costs up to a maximum of $10,000 per unit or $20,000 per property for the construction.  

ADDITIONAL INFORMATION 

Further details and eligibility requirements of the proposed new Community Improvement Plan can be found at the Town of Penetanguishene’s public engagement website www.connectpenetanguishene.ca.   

Dated at the Town of Penetanguishene this 14th day of March, 2024