Barrie’s affordable housing grant program can now afford a large cup of coffee.
After seeing its balance drop to $1.45, the program has now been topped up for the remainder of 2021.
City council decided Monday night to take about $36,000 from the preservation of built heritage grant programs, within the community improvement plan (CIP) reserve, and reallocate it to the affordable housing grant program, to replenish the balance and continue funding development charges and per-door grants for affordable housing projects in 2021.
“This situation does suggest that we should review our affordable housing approach to see if we can make it more effective and perhaps the redevelopment portion of the program needs to be fine-tuned,” said Coun. Clare Riepma.
Council also removed half of the redevelopment grant program funding — or about $144,482 of the remaining $288,964 — to the CIP reserve for affordable housing projects this year.
The opening 2021 balance of the affordable housing CIP reserve was $237,874.
The preservation of built heritage grant program started the year with $98,419, so it has spent $26,071 so far.
Riepma, who’s chairman of the Heritage Barrie committee, had asked that half of the $72,348 left in the preservation of built heritage reserve for 2021 not be taken, noting his committee had not been consulted on that request and that it had some significant applications coming forward.
“This leaves about $36,000 in the heritage part of the program,” he said. “At this point, it looks like the $36,000 will be enough to fund the heritage projects that are expected for the rest of the year. If we run short in the heritage fund, we can go back and request the return of some funds to cover any shortfall.”
During the first application intake period of 2021 for the CIP, the city received 13 grant applications. Of these, five were deemed to be complete and eligible in accordance with the requirements of the CIP. Two of the five were for affordable housing. The remaining applications did not meet the eligibility criteria of the CIP.
The affordable housing grant reserve has been depleted for 2021, following approval of the two affordable housing grant applications that were received during the first application intake period.
Of the five applications approved by the CIP grant review committee, funding was granted primarily for development and renovation projects in the urban growth centre, intensification nodes and corridors, and historical neighbourhoods.
The opening balance of the CIP reserve in 2021 was $714,279 in total.
The allocation of CIP funding is distributed between the respective grant programs as follows — 55 per cent toward the affordable housing development grant program, 40 per cent toward the redevelopment grant program and five per cent toward the preservation of built heritage grant program.
Barrie’s CIP provides financial incentives for eligible projects that target key planning and growth management objectives for development. Eligible projects include affordable housing projects, brownfield site redevelopment and mixed-use developments within the urban growth centre, key intensification areas, and the preservation of built heritage.
