Saskatchewan Co-Investment Program
The Saskatchewan Co-Investment Program (SCIP) is a provincial program that complements the National Housing Co-Investment Fund (NHCF), a federal program administered by Canada Mortgage and Housing Corporation (CMHC) as part of the National Housing Strategy (NHS). SCIP provides 10-year forgivable loans to support the construction of new affordable rental housing and the repair and renewal of existing affordable housing in Saskatchewan.
SCIP provides one-time funding up to $27,000 per unit, up to a maximum of $1 million per project to develop new affordable purpose-built rental units or to repair or renew existing units. Saskatchewan Housing Corporation (SHC) will secure a forgivable loan with a registered interest on the title until the loan is fully forgiven over 10 years.
Eligible projects must meet the minimum requirements as outlined by the NHCF and must be rented to households with incomes at, or below, the Saskatchewan Housing Income Maximum-Low for a minimum of 10 years.
Sponsors are eligible to apply if they:
- are private (for-profit) corporations, non-profit groups, co-operatives, Indigenous governments and organizations (including First Nations bands, tribal councils and Métis organizations), or municipalities (including agencies);
- are in good standing with SHC;
- are registered businesses in the province of Saskatchewan;
- agree to Government of Saskatchewan Conflict of Interest guidelines;
- have demonstrated property management and development experience; and
- agree to enter into an operating agreement with SHC.
- All Saskatchewan communities, including Northern villages, are encouraged to apply.
- SCIP applies to off-reserve housing only.
- Projects must be considered independent living and must not be licensed.
3. How to Apply
- Download the SCIP application form (listed in #4. below).
- Complete the SCIP application form or the NHCF application form (submit to SHC prior to submitting to CMHC).
- Mail or deliver the completed application and required documents to:
Saskatchewan Housing Corporation
225 First Avenue North
Saskatoon, SK S7K 1X2
Office hours: 8:00 a.m. to noon and 1:00 p.m. to 5:00 p.m. weekdays
OR, e-mail completed forms to SCIP@gov.sk.ca
4. Further Information
Materials are subject to change.
The information detailed in the application is intended to be completed in full. The application is to be filled out by applicants only. The PDF and the Word version are the same – only one format needs to be completed.
SHC agreements are subject to change and are provided only to successful groups by SHC after a formal letter has been received.