People looking to add a basement secondary or basement suite to their home can now apply for a government incentive.
The program allows homeowners to apply for a forgivable loan up to $40,000 to cover 50 per cent of renovation costs.
The loans are forgivable as long as the unit is rented at below market rates for at least five years.
The grant is part of government’s five-point plan to tackle the housing shortage. A number of requirements must be met in order to qualify for the incentives. Criteria and application information can be found online.
