The Town of Hay River is now taking applications for the first phase of its new Residential Development Grants Program.
This program is designed to help encourage the construction of new homes and residential units within the community. Coming to a total of $2 million, this program offers grants of up to $35,000 for multi-family housing projects, and $20,000 for accessory dwelling units. These grants are made available to property owners and developers who are interested in new projects.
In order to eligible for a grant, property owners and developers must be on good terms with the community, and their projects must meet specified requirements. Applications for this phase of the initiative will be accepted until April 25th.
Assuming everything goes smoothly, Phase 2, which will offer grants for accessory dwelling units, will begin in May.
Kandis Jameson, the Mayor of Hay River, said in a statement that “We recognize the need for diversified, affordable housing options in our community, and these grants are a vital step towards addressing that need. By providing financial support, we aim to encourage developers to invest in our community and enhance the quality of life for all residents through affordable housing options.”
