would result in a reassessment of the properties. | year seven, 40% in year eight, 20% in year nine and with the owner paying the full amount of taxes in year ten. | |||
COMMUNITY IMPROVEMENT PLANS THAT INCLUDE AFFORDABLE HOUSING COMPONENT | ||||
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Barrie Community Improvement Plan (2019) | ||||
Affordable Definition | CIP Programs | Description | Program Details | Requirements |
In the case of ownership housing: - Housing for which the purchase price results in annual accommodation costs which do not exceed 30 percent of gross annual household income for low to moderate income households. Annual household income will be based upon the most recent Census of Canada statistics for the City of Barrie which is updated every five years. In the case of rental housing: - A unit for which the rent does not exceed 30 percent of gross annual household income for low to moderate income households. Annual household income will be based upon the most recent Census of Canada statistics for the City of Barrie which is updated every five years. Low to moderate income: means households with an annual household income in the lowest 40th percentiles. | Affordable Housing Development Program Incentives | Where an application is approved under the Affordable Housing Development Grant program, assistance will be in the form of a grant for:
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