DOLLARS TO THE DOORS PROGRAM
The Northern Development Initiative Trust (NDIT) provides funding support to northern communities in various spheres of community economic development and capacity building. With the objective to encourage the creation of new market-based multi-family housing units in communities and thereby to create additional business and local employment opportunities, NDIT launched the Northern Housing Incentive Program in April 2019. The program provides grant funding to local governments to establish a ‘Dollars to the Door’ program, by incentivizing multi-family housing developments undertaken by private sector developers.
The program will benefit new multi-family residential developments in Smithers – both rental and for sale – providing up to $10,000 per newly created dwelling unit, to a maximum contribution of $200,000 to a project/community, at a given time.
As per the Town’s Multi-Family Housing Incentive Program Policy, which established the program requirements and processing procedures for the ‘Dollars to the Door’ Program, eligible projects shall meet the following criteria:
i. Create a minimum of four market-based multi-family self-contained dwelling units in a new development or by converting an existing non-residential building;
ii. Location outside the ‘Downtown Revitalization Tax Exemption Area’ identified in “Attachment 1” of this policy;
iii. Developments must address one or more specific housing needs:
(a) market rental housing; (b) entry-level home ownership; (c) senior housing; (d) small-family housing; and (e) housing for families;
iv. Compliance of the proposed development with all the relevant Official Community Plan and zoning bylaw requirements and should be ‘shovel ready’ upon funding approval;
v. Aim to complete the proposed project within two years from the data of Building Permit issuance unless otherwise extended by the maximum of one year by the General Manager, Integrated Growth and Infrastructure;
vi. The Applicant must be the registered owner of the property; and
vii. All the newly created units must meet the BC Energy STEP Code 2 or above as per BC Building Code.