The City of Kelowna is now accepting applications for its 2021 rental housing grants program.
The program offers up to $8,000 in development cost charge credits for eligible projects.
“The city offers incentives for housing in strategic ways to ensure that the type of housing and the location of new housing achieves our long-term and overall community objectives,” said Ross Soward, a City of Kelowna planning specialist.
The city says the grants are incentives for developers to increase the supply of rental housing in Kelowna.
To be eligible for rental housing grant funding, the city says, projects must be deemed affordable rental buildings with five or more units and must be secured by a housing agreement with the city or BC Housing.
The projects must also be in the core area of Kelowna or select village centres, according to the city.
“Finding affordable homes in Kelowna can be a challenge and the healthy housing strategy seeks to promote and protect rental housing by building the right supply and leveraging partnerships,” said Soward.
The deadline to apply is Oct. 31, 2020.
For more information on rental housing grants click here.