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</o:shapelayout></xml><![endif]--></head><body lang=EN-CA link=blue vlink=purple><div class=WordSection1><p class=MsoNormal style='margin-bottom:1.0pt'><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:#17365D'>FYI . . . two very useful opportunities for start-up funding for those involved in affordable housing or supportive housing. <o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:1.0pt'><b><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:#17365D'>Lynne Browne</span></b><b><span lang=EN-US style='color:#17365D'><o:p></o:p></span></b></p><p class=MsoNormal style='margin-bottom:1.0pt'><b><span lang=EN-US style='font-size:10.0pt;font-family:"Arial","sans-serif";color:#17365D'>Executive Director, Alliance to End Homelessness </span></b><b><span lang=EN-US style='color:#17365D'><o:p></o:p></span></b></p><p class=MsoNormal style='margin-bottom:1.0pt'><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:#17365D'>613-241-7913 ext. 205, <a href="mailto:lbrowne@ysb.on.ca" target="_blank"><span style='color:#17365D'>lbrowne@ysb.on.ca</span></a></span><span lang=EN-US style='font-size:10.0pt;color:#17365D'><o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Arial","sans-serif";color:#0F243E'><o:p> </o:p></span></p><div><div style='border:none;border-top:solid #B5C4DF 1.0pt;padding:3.0pt 0cm 0cm 0cm'><p class=MsoNormal><b><span lang=EN-US style='font-size:10.0pt;font-family:"Tahoma","sans-serif"'>From:</span></b><span lang=EN-US style='font-size:10.0pt;font-family:"Tahoma","sans-serif"'> vchih@cmhc-schl.gc.ca [mailto:vchih@cmhc-schl.gc.ca] <br><b>Sent:</b> June-08-12 3:39 PM<br><b>To:</b> Lynne Browne<br><b>Subject:</b> Fw: CMHC SEED and PDF<o:p></o:p></span></p></div></div><p style='margin-bottom:12.0pt'><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>HI Lynne</span><br><br><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>Can you kindly share this through the listserv?<span style='color:#0F243E'> </span>Please see attached information for SEED and PDF funding. The application is available on the website via the links. Please do not hesitate to share this note with interested proponents.</span><br><br><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>I welcome your questions and remain available by phone or email</span><br><br><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>Vivian </span><br><br><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>++++++++++++</span><br><br><br><br><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>Link to SEED funding</span><br><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'><a href="http://www.cmhc.ca/en/inpr/afhoce/fias/fias_001.cfm">http://www.cmhc.ca/en/inpr/afhoce/fias/fias_001.cfm</a></span><o:p></o:p></p><p class=MsoNormal align=center style='text-align:center'><o:p> </o:p></p><div align=center><table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0><tr><td width=705 style='width:528.75pt;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal><o:p> </o:p></p><table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0><tr><td width=705 valign=top style='width:528.75pt;background:white;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal><o:p> </o:p></p><table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="100%" style='width:100.0%'><tr><td width="100%" style='width:100.0%;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal><b><span style='font-family:"Arial","sans-serif"'>Seed Funding Program</span></b><br><span style='font-size:7.5pt;font-family:"Arial","sans-serif"'>The successful development of housing requires appropriate skills, expertise and commitment. Proponents need to be organized, and must know how to evaluate housing need and demand in their community, and how to obtain the money and other resources to make their proposed housing project a reality. CMHC Seed Funding provides proponents with financial assistance to carry out these initial activities.</span><o:p></o:p></p></td></tr></table></td></tr></table></td></tr></table></div><p class=MsoNormal align=center style='text-align:center'><span style='display:none'><o:p> </o:p></span></p><div align=center><table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0><tr><td width=705 style='width:528.75pt;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal><o:p> </o:p></p><table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0><tr><td width=705 valign=top style='width:528.75pt;background:white;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal><o:p> </o:p></p><table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="100%" style='width:100.0%'><tr><td width="100%" style='width:100.0%;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal><b><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>What is Seed Funding?</span></b><br><span style='font-size:7.5pt;font-family:"Arial","sans-serif"'>Seed Funding offers financial assistance to housing proponents who are in the early stages of developing an affordable housing project.</span><br><b><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>What types of housing projects are eligible?</span></b><br><span style='font-size:7.5pt;font-family:"Arial","sans-serif"'>The proposal must be for a housing project that will be affordable.</span><br><span style='font-size:7.5pt;font-family:"Arial","sans-serif"'>The housing project must be located in Canada.</span><br><span style='font-size:7.5pt;font-family:"Arial","sans-serif"'>There are no restrictions on:</span> <o:p></o:p></p><ul type=disc><li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l8 level1 lfo1'><span style='font-family:"Arial","sans-serif"'>Building form</span> <o:p></o:p></li><li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l8 level1 lfo1'><span style='font-family:"Arial","sans-serif"'>Tenure type</span> <o:p></o:p></li><li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l8 level1 lfo1'><span style='font-family:"Arial","sans-serif"'>Future residents of the housing</span> <o:p></o:p></li><li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l8 level1 lfo1'><span style='font-family:"Arial","sans-serif"'>The type of housing proponent organization</span><o:p></o:p></li></ul><p class=MsoNormal><b><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>To be eligible for Seed Funding, your proposed housing project must be affordable</span></b><br><span style='font-size:7.5pt;font-family:"Arial","sans-serif"'>You intend to produce a rental housing project in which most of the units will have rents within CMHC’s Affordability Criteria. (CMHC can provide you with the Affordability Criteria in the community where you intend to produce housing that meet this guideline.)</span><br><span style='font-size:7.5pt;font-family:"Arial","sans-serif"'>OR</span><br><span style='font-size:7.5pt;font-family:"Arial","sans-serif"'>You intend to produce a homeowner project in which the units will be modest and the purchase prices will be below the market for units of a similar type, size and number of bedrooms in the subject housing market.</span><br><b><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>Who is eligible?</span></b><br><span style='font-size:7.5pt;font-family:"Arial","sans-serif"'>Seed Funding may be made available to any proponent of a housing project that will be affordable. For example, the proponent may be:</span> <o:p></o:p></p><ul type=disc><li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l7 level1 lfo2'><span style='font-family:"Arial","sans-serif"'>A not-for-profit organization</span> <o:p></o:p></li><li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l7 level1 lfo2'><span style='font-family:"Arial","sans-serif"'>A housing cooperative</span> <o:p></o:p></li><li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l7 level1 lfo2'><span style='font-family:"Arial","sans-serif"'>A First Nation</span> <o:p></o:p></li><li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l7 level1 lfo2'><span style='font-family:"Arial","sans-serif"'>A private entrepreneur</span> <o:p></o:p></li><li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l7 level1 lfo2'><span style='font-family:"Arial","sans-serif"'>A group of individuals who may or may not intend to become incorporated</span><o:p></o:p></li></ul><p class=MsoNormal><b><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>What activities are eligible?</span></b><br><span style='font-size:7.5pt;font-family:"Arial","sans-serif"'>Seed Funding may be used to pay for a variety of activities in the early stages of developing a housing project proposal. These activities must be directly related to the development of the housing project proposal. Eligible items include:</span> <o:p></o:p></p><ul type=disc><li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l2 level1 lfo3'><span style='font-family:"Arial","sans-serif"'>Housing market studies to evaluate need and demand for the proposed project</span> <o:p></o:p></li><li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l2 level1 lfo3'><span style='font-family:"Arial","sans-serif"'>Development of a business plan</span> <o:p></o:p></li><li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l2 level1 lfo3'><span style='font-family:"Arial","sans-serif"'>Exploration of funding sources or options</span> <o:p></o:p></li><li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l2 level1 lfo3'><span style='font-family:"Arial","sans-serif"'>Evaluation of procurement options</span> <o:p></o:p></li><li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l2 level1 lfo3'><span style='font-family:"Arial","sans-serif"'>Preliminary financial viability analysis</span> <o:p></o:p></li><li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l2 level1 lfo3'><span style='font-family:"Arial","sans-serif"'>Environmental site assessment</span> <o:p></o:p></li><li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l2 level1 lfo3'><span style='font-family:"Arial","sans-serif"'>Preliminary design of the housing project (new construction, renovation or conversion)</span> <o:p></o:p></li><li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l2 level1 lfo3'><span style='font-family:"Arial","sans-serif"'>Incorporation of a not-for-profit organization</span><o:p></o:p></li></ul><p class=MsoNormal><b><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>What expenses are not eligible?</span></b> <o:p></o:p></p><ul type=disc><li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l3 level1 lfo4'><span style='font-family:"Arial","sans-serif"'>Expenses not related to the development of the housing project proposal</span> <o:p></o:p></li><li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l3 level1 lfo4'><span style='font-family:"Arial","sans-serif"'>Expenses for housing project development activities carried out prior to CMHC's written approval of Seed Funding</span> <o:p></o:p></li><li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l3 level1 lfo4'><span style='font-family:"Arial","sans-serif"'>Expenses related to “hard” project development activities, such as site preparation, lot servicing, construction, renovation, and so on</span> <o:p></o:p></li><li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l3 level1 lfo4'><span style='font-family:"Arial","sans-serif"'>Ongoing operating expenses of the organization, for example, staff salaries and benefits, travel expenses, rental of office space, premiums for liability insurance or other insurance coverage, office supplies or equipment, or other similar expenses</span> <o:p></o:p></li><li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l3 level1 lfo4'><span style='font-family:"Arial","sans-serif"'>Retainer fees paid to consultants or any other professionals for work to be completed in the future</span><o:p></o:p></li></ul><p class=MsoNormal><b><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>What is the maximum funding amount?</span></b><br><span style='font-size:7.5pt;font-family:"Arial","sans-serif"'>The maximum amount of Seed Funding is $20,000 per housing project proposal to carry out eligible activities.</span> <o:p></o:p></p><ul type=disc><li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l0 level1 lfo5'><b><span style='font-family:"Arial","sans-serif"'>Up to $10,000</span></b><span style='font-family:"Arial","sans-serif"'> for a given housing project proposal is in the form of a grant, with no repayment required.</span> <o:p></o:p></li><li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l0 level1 lfo5'><b><span style='font-family:"Arial","sans-serif"'>An additional amount — up to $10,000 — </span></b><span style='font-family:"Arial","sans-serif"'> may be made available in the form of an interest-free loan, which is repayable if the housing project proceeds.</span> <o:p></o:p></li><li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l0 level1 lfo5'><span style='font-family:"Arial","sans-serif"'>If the proposal does not result in the production of housing, the repayable portion of the Seed Funding may be forgiven by CMHC.</span><o:p></o:p></li></ul><p class=MsoNormal><b><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>How will the actual funding amount be determined?</span></b><br><span style='font-size:7.5pt;font-family:"Arial","sans-serif"'>For successful applications, CMHC will determine the amount of Seed Funding to be provided to a proponent for a specific housing project proposal by taking into consideration the nature of the proposal and the amount and cost of work that is required to carry out the eligible activities.</span><br><b><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>What are the conditions of funding?</span></b> <o:p></o:p></p><ul type=disc><li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l1 level1 lfo6'><span style='font-family:"Arial","sans-serif"'>Housing proponents who are selected by CMHC to receive Seed Funding must enter into a Contribution Agreement with CMHC which will set out the terms and conditions of funding, including the activities for which funding is provided and the specified time period within which the activities must be carried out.</span> <o:p></o:p></li><li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l1 level1 lfo6'><span style='font-family:"Arial","sans-serif"'>CMHC will advance funds only for eligible expenses that can be confirmed with invoices or receipts.</span> <o:p></o:p></li><li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l1 level1 lfo6'><span style='font-family:"Arial","sans-serif"'>Need and demand studies must be confirmed to CMHC’s satisfaction for the proposed housing project, and an acceptable business plan must be received by CMHC before further funds will be advanced for additional approved activities.</span> <o:p></o:p></li><li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l1 level1 lfo6'><span style='font-family:"Arial","sans-serif"'>All funded housing project development activities will normally be expected to be completed within 12 months of the date of the Contribution Agreement. A longer period of the time may be negotiated where appropriate.</span><o:p></o:p></li></ul><p class=MsoNormal><b><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>Will recipients of Seed Funding be eligible for other CMHC tools?</span></b><br><span style='font-size:7.5pt;font-family:"Arial","sans-serif"'>Affordable housing proponents who are selected to receive Seed Funding may also apply for other CMHC initiatives.</span><br><span style='font-size:7.5pt;font-family:"Arial","sans-serif"'>An approval by CMHC of Seed Funding is not a guarantee that the housing project proposal will be approved for other forms of CMHC assistance.</span><br><span style='font-size:7.5pt;font-family:"Arial","sans-serif"'>Some of CMHC's other tools, including interest-free proposal development funding loans and mortgage loan insurance flexibilities, are available only for housing projects with a minimum of five units. The project must also meet </span><a href="http://www.cmhc.ca/en/inpr/afhoce/fias/upload/Criteria.pdf"><span style='font-size:7.5pt;font-family:"Arial","sans-serif";color:#0067C6'>CMHC's affordability criteria</span></a><span style='font-size:7.5pt;font-family:"Arial","sans-serif"'>.</span><br><b><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>What is the application process?</span></b><br><span style='font-size:7.5pt;font-family:"Arial","sans-serif"'>Applications are accepted on an on-going basis; there is no deadline to apply. Applications should be sent to the appropriate CMHC office. A list of offices can be found in the application form. The number of applications that can be approved by CMHC in a given budget year will be limited by budget availability.</span><o:p></o:p></p></td></tr></table></td></tr></table></td></tr></table></div><p class=MsoNormal><br><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>Link to PDF information</span><br><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'><a href="http://www.cmhc.ca/en/inpr/afhoce/fias/fias_004.cfm">http://www.cmhc.ca/en/inpr/afhoce/fias/fias_004.cfm</a></span><o:p></o:p></p><p class=MsoNormal align=center style='text-align:center'><o:p> </o:p></p><div align=center><table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0><tr><td width=705 style='width:528.75pt;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal><o:p> </o:p></p><table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0><tr><td width=705 valign=top style='width:528.75pt;background:white;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal><o:p> </o:p></p><table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="100%" style='width:100.0%'><tr><td width="100%" style='width:100.0%;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal><b><span style='font-family:"Arial","sans-serif"'>Proposal Development Funding (PDF)</span></b><br><span style='font-size:7.5pt;font-family:"Arial","sans-serif"'>Proposal Development Funding (PDF) loans help with the up-front expenses incurred during the process of developing an affordable housing project proposal. A PDF loan enables housing proponents to carry out the activities required to bring their proposal to the point where they can apply for mortgage financing.</span><o:p></o:p></p></td></tr></table></td></tr></table></td></tr></table></div><p class=MsoNormal align=center style='text-align:center'><span style='display:none'><o:p> </o:p></span></p><div align=center><table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0><tr><td width=705 style='width:528.75pt;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal><o:p> </o:p></p><table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0><tr><td width=705 valign=top style='width:528.75pt;background:white;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal><o:p> </o:p></p><table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="100%" style='width:100.0%'><tr><td width="100%" style='width:100.0%;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal><b><span style='font-family:"Arial","sans-serif"'>What is Proposal Development Funding (PDF)?</span></b><br><span style='font-size:7.5pt;font-family:"Arial","sans-serif"'>Proposal Development Funding (PDF) provides repayable interest-free loans to facilitate the development of affordable housing.</span><br><span style='font-size:7.5pt;font-family:"Arial","sans-serif"'>Loans of up to $100,000 are available for affordable housing project proposals by non-profit or private sector proponents who can demonstrate that their intended housing project is affordable.</span><br><span style='font-size:7.5pt;font-family:"Arial","sans-serif"'>PDF loans will be repayable if the proposed project succeeds. A portion of the PDF loan may be forgiven, if the proponent is successful in adding to the stock of affordable housing, based on CMHC's </span><a href="javascript:HandleLink('cpe_1752_0','CPNEWWIN:NewWindow%5etop=10,left=10,width=500,height=400,toolbar=1,location=1,directories=0,status=1,menubar=1,scrollbars=1,resizable=1@CP___PAGEID=142138,/en/inpr/afhoce/fias/upload/Criteria.pdf');"><span style='font-size:7.5pt;font-family:"Arial","sans-serif";color:#0067C6'>affordability criteria</span></a><span style='font-size:7.5pt;font-family:"Arial","sans-serif"'>.</span><br><b><span style='font-family:"Arial","sans-serif"'>What is the maximum PDF loan available?</span></b><br><span style='font-size:7.5pt;font-family:"Arial","sans-serif"'>Up to $100,000 is available to develop an affordable housing project proposal. CMHC will determine the actual amount of each loan, depending on the size and complexity of the proposed housing project and how much development work needs to be done.</span><br><b><span style='font-family:"Arial","sans-serif"'>Who is eligible for funding?</span></b><br><span style='font-size:7.5pt;font-family:"Arial","sans-serif"'>PDF loans will be made available to any proponent who can demonstrate that their proposed housing project will be affordable, including:</span> <o:p></o:p></p><ul type=disc><li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l5 level1 lfo7'><span style='font-family:"Arial","sans-serif"'>a not-for-profit organization</span> <o:p></o:p></li><li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l5 level1 lfo7'><span style='font-family:"Arial","sans-serif"'>a housing cooperative</span> <o:p></o:p></li><li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l5 level1 lfo7'><span style='font-family:"Arial","sans-serif"'>a First Nation</span> <o:p></o:p></li><li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l5 level1 lfo7'><span style='font-family:"Arial","sans-serif"'>a private entrepreneur</span> <o:p></o:p></li><li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l5 level1 lfo7'><span style='font-family:"Arial","sans-serif"'>any other housing proponents who can demonstrate their ability to produce a viable affordable housing project which meets CMHC's criteria.</span><o:p></o:p></li></ul><p class=MsoNormal><b><span style='font-size:7.5pt;font-family:"Arial","sans-serif"'>PDF loans are NOT available for housing proposals whose viability or level of affordability depends upon approval for a Provincial or Territorial program funded under the Affordable Housing Agreement between the Province or Territory and Canada Mortgage and Housing Corporation.</span></b><br><b><span style='font-family:"Arial","sans-serif"'>What are the funding criteria?</span></b><br><span style='font-size:7.5pt;font-family:"Arial","sans-serif"'>There are no restrictions on tenure type or building form. The PDF funds must be used to develop proposals for housing units that will increase the stock of affordable housing, including new construction, conversion from a non-residential use, or conversion from non-affordable housing to affordable housing. Any type of housing is acceptable, as long as it meets the following criteria:</span> <o:p></o:p></p><ul type=disc><li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l4 level1 lfo8'><span style='font-family:"Arial","sans-serif"'>the project must have at least five (5) housing units.</span> <o:p></o:p></li><li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l4 level1 lfo8'><span style='font-family:"Arial","sans-serif"'>the majority of units in a rental project must be below CMHC's Level 1 or Level 2 rent limits for units of a similar type, size, and number of bedrooms in the subject housing market.</span> <o:p></o:p></li><li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l4 level1 lfo8'><span style='font-family:"Arial","sans-serif"'>the sale price of homeowner units must be below the market value for similar housing.</span> <o:p></o:p></li><li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l4 level1 lfo8'><span style='font-family:"Arial","sans-serif"'>units - whether rental or homeowner - must be modest in size and design</span> <o:p></o:p></li><li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l4 level1 lfo8'><span style='font-family:"Arial","sans-serif"'>there must be a demonstrated need for the proposed housing project</span> <o:p></o:p></li><li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l4 level1 lfo8'><span style='font-family:"Arial","sans-serif"'>an initial viability analysis must demonstrate how the housing will be produced to meet CMHC's definition of affordability.</span><o:p></o:p></li></ul><p class=MsoNormal><b><span style='font-family:"Arial","sans-serif"'>What activities can the funds be used for?</span></b><br><span style='font-size:7.5pt;font-family:"Arial","sans-serif"'>Eligible expenses include such items as soil load-bearing tests, environmental site assessments, project drawings and specifications, professional fees, cost estimates, management plan, option to purchase, development permits, contract documents and application fees.</span><br><b><span style='font-family:"Arial","sans-serif"'>What expenses are not eligible to be paid out of the PDF loan?</span></b> <o:p></o:p></p><ul type=disc><li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l6 level1 lfo9'><span style='font-family:"Arial","sans-serif"'>expenditures incurred for activities carried out prior to CMHC's approval of proposal development funding</span> <o:p></o:p></li><li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l6 level1 lfo9'><span style='font-family:"Arial","sans-serif"'>expenses not related to the development of the housing project proposal</span> <o:p></o:p></li><li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l6 level1 lfo9'><span style='font-family:"Arial","sans-serif"'>ongoing operating expenses of the organization, for example staff salaries and benefits, travel expenses, rental of office space, premiums for liability insurance or other insurance coverage, office supplies or equipment, or other similar expenses</span> <o:p></o:p></li><li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l6 level1 lfo9'><span style='font-family:"Arial","sans-serif"'>retainer fees paid to consultants</span><o:p></o:p></li></ul><p class=MsoNormal><b><span style='font-family:"Arial","sans-serif"'>What are the loan repayment requirements?</span></b><br><span style='font-size:7.5pt;font-family:"Arial","sans-serif"'>A PDF loan is in effect an advance of the capital costs of the project. If the project proceeds, the PDF loan is repaid out of the project's capital financing, normally from the first advance of the mortgage loan. Only the principal amount is to be repaid. CMHC does not charge interest on PDF loans.</span><br><span style='font-size:7.5pt;font-family:"Arial","sans-serif"'>While the loan is repayable if the project proceeds, you may not have to pay it all back, if your project meets one of the affordability criteria below:</span> <o:p></o:p></p><ul type=disc><li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l9 level1 lfo10'><span style='font-family:"Arial","sans-serif"'>If you are successful in producing an affordable housing project with rents below the level 1 limits in the majority of the rental units, or sale prices below market for home ownership units, then 80 per cent of the advanced loan amount will be repayable and 20 per cent will be forgiven.</span> <o:p></o:p></li><li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l9 level1 lfo10'><span style='font-family:"Arial","sans-serif"'>If you are successful in producing an affordable housing project with rents below the level 2 limits in the majority of the units, then 65 per cent of the advanced loan amount will be repayable and 35 per cent will be forgiven.</span><o:p></o:p></li></ul><p class=MsoNormal><span style='font-size:7.5pt;font-family:"Arial","sans-serif"'>If the proponents are successful in producing housing, but are unable to achieve rent levels or sale prices low enough to meet CMHC's </span><a href="javascript:HandleLink('cpe_1752_0','CPNEWWIN:NewWindow%5etop=10,left=10,width=500,height=400,toolbar=1,location=1,directories=0,status=1,menubar=1,scrollbars=1,resizable=1@CP___PAGEID=142138,/en/inpr/afhoce/fias/upload/Criteria.pdf');"><span style='font-size:7.5pt;font-family:"Arial","sans-serif";color:#0067C6'>affordability criteria</span></a><span style='font-size:7.5pt;font-family:"Arial","sans-serif"'>, then the full amount of the PDF loan is repayable, without interest.</span><br><b><span style='font-family:"Arial","sans-serif"'>How does the application process work?</span></b><br><span style='font-size:7.5pt;font-family:"Arial","sans-serif"'>You will be asked to provide a comprehensive description of your affordable housing project proposal, along with confirmation of need and demand for the planned housing. You will also be expected to provide a preliminary viability analysis to demonstrate how the housing produced will meet CMHC's affordability criteria. A CMHC Affordable Housing Centre Representative can help you with the application. An application package can be downloaded or to obtain a printed copy, </span><a href="http://www.cmhc.ca/en/corp/cous/cous_023.cfm"><span style='font-size:7.5pt;font-family:"Arial","sans-serif";color:#0067C6'>contact</span></a><span style='font-size:7.5pt;font-family:"Arial","sans-serif"'> your local CMHC Affordable Housing Centre Representative or call 1 800 668-2642.</span><o:p></o:p></p></td></tr></table></td></tr></table></td></tr></table></div><p class=MsoNormal><br><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>Thank you</span><o:p></o:p></p><div class=MsoNormal><hr size=2 width="100%" align=left></div><table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="100%" style='width:100.0%'><tr><td width="49%" style='width:49.0%;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='margin-left:36.0pt'><b><span style='font-size:7.5pt;font-family:"Arial","sans-serif"'>Vivian Chih</span></b><o:p></o:p></p></td><td width="51%" style='width:51.0%;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='margin-left:36.0pt'><b><span style='font-size:7.5pt;font-family:"Arial","sans-serif"'>Vivian Chih</span></b><o:p></o:p></p></td></tr><tr><td width="49%" style='width:49.0%;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='margin-left:36.0pt'><span style='font-size:7.5pt;font-family:"Arial","sans-serif"'>Corporate Representative</span><o:p></o:p></p></td><td width="51%" style='width:51.0%;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='margin-left:36.0pt'><span style='font-size:7.5pt;font-family:"Arial","sans-serif"'>Représentante de la schl</span><o:p></o:p></p></td></tr><tr><td width="49%" style='width:49.0%;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='margin-left:36.0pt'><span style='font-size:7.5pt;font-family:"Arial","sans-serif"'>Ontario Corporate Representatives</span><o:p></o:p></p></td><td width="51%" style='width:51.0%;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='margin-left:36.0pt'><span style='font-size:7.5pt;font-family:"Arial","sans-serif"'>Représentant de la Société de l'Ontario</span><o:p></o:p></p></td></tr><tr><td width="49%" style='width:49.0%;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='margin-left:36.0pt'><a href="mailto:%20vchih@cmhc-schl.gc.ca"><span style='font-size:7.5pt;font-family:"Arial","sans-serif"'>vchih@cmhc-schl.gc.ca</span></a><o:p></o:p></p></td><td width="51%" style='width:51.0%;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='margin-left:36.0pt'><a href="mailto:%20vchih@cmhc-schl.gc.ca"><span style='font-size:7.5pt;font-family:"Arial","sans-serif"'>vchih@cmhc-schl.gc.ca</span></a><o:p></o:p></p></td></tr><tr><td width="49%" style='width:49.0%;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='margin-left:36.0pt'><span style='font-size:7.5pt;font-family:"Arial","sans-serif"'>Telephone: 613 748-4632</span><o:p></o:p></p></td><td width="51%" style='width:51.0%;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='margin-left:36.0pt'><span style='font-size:7.5pt;font-family:"Arial","sans-serif"'>Téléphone : 613 748-4632</span><o:p></o:p></p></td></tr><tr><td width="49%" style='width:49.0%;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='margin-left:36.0pt'><span style='font-size:7.5pt;font-family:"Arial","sans-serif"'>Facsimile: 613 748-5130</span><o:p></o:p></p></td><td width="51%" style='width:51.0%;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='margin-left:36.0pt'><span style='font-size:7.5pt;font-family:"Arial","sans-serif"'>Télécopieur : 613 748-5130</span><o:p></o:p></p></td></tr><tr><td width="49%" style='width:49.0%;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='margin-left:36.0pt'><span style='font-size:7.5pt;font-family:"Arial","sans-serif"'>700 Montreal Rd, Suite B0-100, B0-190, Ottawa, ON, K1A 0P7</span><o:p></o:p></p></td><td width="51%" style='width:51.0%;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='margin-left:36.0pt'><span style='font-size:7.5pt;font-family:"Arial","sans-serif"'>700 Ch De Montréal, Porte B0-100, B0-190, Ottawa, ON, K1A 0P7</span><o:p></o:p></p></td></tr><tr><td width="49%" style='width:49.0%;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='margin-left:36.0pt'><a href="http://www.cmhc-schl.gc.ca/" target="_new"><span style='font-size:7.5pt;font-family:"Arial","sans-serif"'>Canada Mortgage and Housing Corporation (CMHC)</span></a><u><span style='font-size:7.5pt;font-family:"Arial","sans-serif";color:blue'><br></span></u><a href="http://www.cmhc-schl.gc.ca/" target="_new"><span style='font-size:7.5pt;font-family:"Arial","sans-serif"'>www.cmhc.ca</span></a><o:p></o:p></p></td><td width="51%" style='width:51.0%;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='margin-left:36.0pt'><a href="http://www.cmhc-schl.gc.ca/" target="_new"><span style='font-size:7.5pt;font-family:"Arial","sans-serif"'>Société canadienne d'hypothèques et de logement (SCHL)</span></a><u><span style='font-size:7.5pt;font-family:"Arial","sans-serif";color:blue'><br></span></u><a href="http://www.cmhc-schl.gc.ca/" target="_new"><span style='font-size:7.5pt;font-family:"Arial","sans-serif"'>www.schl.ca</span></a><o:p></o:p></p></td></tr></table><p class=MsoNormal style='margin-bottom:12.0pt'><o:p> </o:p></p></div></body></html>