Bruce County is offering a new pilot program that will provide financial assistance in order to help build two new additional residential units (ARUs) in the region.
As part of its Housing Action Plan, the County is offering $50,000 in funding to residents that want to construct an ARU on their property and offer an affordable rent to tenants.
In order to qualify, applicants must own a single-detached property in Bruce County, have a household income of less than $116,000 per year and be up to date on all property taxes and mortgage payments.
If approved, the newly built ARU must be rented at an affordable rate for 15 years. The County defines affordable as at or below the CMHC's Average Market Rent for the region, which is currently $1,040 for a one bedroom and $1,464 for a two bedroom.
"We are excited to offer this new funding opportunity to our residents," said Tina Metcalfe, Director of Human Services. "This program supports homeowners to enhance the usage of their properties while advancing the County’s broader goal of increasing affordable rental options in our communities."
Interested homeowners can apply by visiting the County's website or contacting Bruce County’s Housing Concierge Service at 1-800-265-3005.
Applications must be submitted online by October 11.