The Federation of Canadian Municipalities (FCM) has released a new funding and financing program through their Green Municipal Fund (GMF). It is called the Sustainable Affordable Housing (SAH) program and is intended to help affordable housing projects achieve better energy performance. The program is aimed at retrofits and new-build projects with funding opportunities for every stage of the project.
Beyond being environmentally responsible, there are many benefits for improving the energy performance of a building, especially for affordable housing landlords. A reduction in energy usage can pass on savings on utility bills to tenants and reduce the operating budget for non-profit housing providers. The upfront costs associated with creating a more energy efficient building will save money over the lifetime of the project. The SAH program will help alleviate the burden of some of these upfront costs.
The fund is divided into five different streams:
- Pilot projects,
- Capital projects: new builds, and
- Capital projects: retrofits.
The table below summarizes the available grants by each of these five streams. The planning, study, and pilot project streams offer non-repayable grants while the two capital project streams offer funding through a grant and financing loan mix.