Rental Development Program
The Rental Development Program (RDP) provides one-time capital funding to help housing organizations develop affordable rental housing units for households with low incomes. The RDP is funded by Canada Mortgage and Housing Corporation (CMHC) and Saskatchewan Housing Corporation (SHC).
The RDP provides a forgivable loan up to 70 per cent of the total eligible capital cost.
SHC secures the forgivable loan with a registered interest on the title until the loan is fully forgiven.
An organization is eligible to apply if it:
- is registered in Saskatchewan as an incorporated organization or company;
- is in good standing with SHC;
- can demonstrate good governance practices;
- has the capacity and resources to deliver the proposed services or has a partnership with a recognized agency to ensure the delivery of the proposed services;
- can contribute a minimum of 30 per cent of the total capital cost of the project; and
- agrees to enter into an operating agreement with SHC.
The organization must demonstrate that its project's housing units are targeted to and affordable for households with an annual gross income at or below the Saskatchewan Household Income Maximum (SHIM)-Low:
*As of July 1, 2021 (subject to change)
- Projects may be located in southern communities with a population of 5,000 or more or in northern communities of any size.
- On-reserve housing does not qualify for the RDP.
- RDP funding must be used to keep rents affordable. It cannot be used to fund support services.
3. How to apply
Visit the Affordable Housing Development page to submit an Expression of Interest (EOI).
After assessing the submitted EOIs , SHC will invite select organizations to submit an RDP Application Package. Successful applicants will receive a conditional approval letter.
Organizations must enter into a project development and operating agreement (PDOA) with SHC before starting construction.
4. Further Information
Contact SHC at 1-866-245-5758 for more information or assistance completing your EOI proposal. If you want to apply but have questions, we recommend you contact SHC at least two weeks before the closing date.