July 22, 2008 -- The Ministry of Municipal Affairs and Housing has released a Request for Proposals (RFP) to deliver the Homeownership Component of the Canada-Ontario Affordable Housing Program (AHP) in the following areas: the Region of Halton, the Region of York, and the Region of Durham.

Background

The Homeownership Component of the AHP assists low to moderate income rental households to purchase affordable homes.  The program provides down payment assistance in the form of an Interest-free, forgivable, second Mortgage registered on title for a period of 20 years.  Under this RFP, the amount of down payment assistance available has been set at a fixed amount of $10,000 for each of 104 eligible purchasers in Halton, 216 purchasers in York, and 140 purchasers in Durham.

The Ministry is seeking partners at the local level to perform various delivery functions including:

  • advertising availability of the program;
  • finding eligible purchasers and homes;
  • educating purchasers on the home buying experience and the up-front and ongoing costs of home ownership;
  • facilitating the signing of AHP loan agreements; and
  • receiving funds to and flowing funds from a segregated trust account to eligible purchasers.

This program has proven to be very successful in other municipalities when delivered in partnership with local Brokers of Record.

More Information

The RFP is available through MERX, the electronic tendering system used by the Province of Ontario, at www.merx.com under the category “Financial and Related Services”.  The closing date of the RFP is August 11, 2008.