The City of Camrose in conjunction with funding provided from the Alberta Housing and Urban Affairs and the Affordable Housing Program, is introducing an affordable housing initiative with a Secondary Suite Program. The grant program can be utilized to:
1. Create a new rental secondary suite in a new or existing dwelling
2. Upgrade an existing secondary rental suite to comply with the Alberta Building Code.
The City will provide a maximum of $15,000 for the development of a new suite or renovation of an existing suite, subject to a five-year operating agreement with the City. The grant will cover up to 70% of the construction costs for the suite, to the maximum eligible limit. The maximum rents that can be charged for suites eligible for grant funding are based on the Core Need Income Threshold rates for Camrose. Monthly rents shall include water, sewer, heat and parking costs.
Completed grant application forms will be processed in order of submission until program funding has been expended. Grant funding is limited to $150,000 in total for the program. It will be expended on a first-come, first-serve basis with the submission of a completed application and all required fees.