The Nova Scotia Community Housing Capital Fund (NS-CHCF) provides community housing organizations in Nova Scotia with access to capital grants for the acquisition of existing residential buildings.
This fund was created by the Government of Nova Scotia in collaboration with the Community Housing Transformation Centre to support the growth of the non-profit and co-operative housing stock. In addition, it aims to preserve existing affordable rents and prevent the displacement of tenants living in them.
The NS-CHCF will also help eligible organizations in obtaining financing through the Community Housing Acquisition Program (CHAP) and other financial institutions.
To be eligible, organizations must complete a mandatory prequalification process before applying for funding. This process ensures that applicants meet the necessary criteria to be considered for financial assistance towards property acquisition. The fund aims to support the growth of the non-profit and co-operative housing stock, preserve existing affordable rents, and prevent the displacement of tenants living in them.
Once an organization has successfully completed the prequalification stage, their application for funding will be reviewed by a program manager at the Community Housing Transformation Centre. The program manager collaborates with the Nova Scotia Department of Municipal Affairs and Housing to evaluate the submitted properties, ensuring they meet eligibility and viability criteria. This thorough review process is designed to assess the suitability of the property for acquisition and its alignment with the fund's objectives.
