Repayable Contribution

Rental Residential Rehabilitation Assistance Program

The amount you may receive is based on the cost of mandatory repairs and the number of eligible self-contained units in the project. The assistance is in the form of a forgivable loan. The maximum amount you may receive for each self-contained unit is $24,000. With the exception of non-profit organizations owners must contribute 25% of the total cost of mandatory repairs. All approved applicants must enter into a rental agreement to ensure that rents remain affordable to low-income occupants during the earning period of the loan.

  • 4.5/5.0
  • New Brunswick. Social Development
  • All levels
  • Last updated 1 month ago
  • English
Description
The amount you may receive is based on the cost of mandatory repairs and the number of eligible self-contained units in the project. The assistance is in the form of a forgivable loan. The maximum amount you may receive for each self-contained unit is $24,000. With the exception of non-profit organizations owners must contribute 25% of the total cost of mandatory repairs. All approved applicants must enter into a rental agreement to ensure that rents remain affordable to low-income occupants during the earning period of the loan.

  • Provides financial assistance to owners / landlords for mandatory repairs to self-contained units that are substandard and rented to low income households.