TERRACE BAY—The Township of Terrace Bay encourages residents in their community to apply for the Ontario Renovates Program.
Along with the Thunder Bay District Social Services Administrative Board, they are both happy to advise households, that the Ontario Renovates Program is once again accepting applications.
Often homeowners want to repair and update areas in their home, but struggle to do so because of lack of funds. The Ontario Renovates Program helps to make home repairs more affordable.
The program helps allow you to live in your home longer, by assisting with the funding needed to repair your home, with the needed repairs, so that it becomes safer, and more energy efficient.
As a result, low to moderate income homeowners can make the needed home repairs that focus on home health and safety issues, or to make modifications to their home in order to accommodate family members with disabilities.
According to the Thunder Bay District Social Services Administrative Board, eligibility guidelines may enable home owners for a forgivable loan, at 10 per cent per year. Guidelines for eligibility includes total household income; specifically:
- Single or couple with no dependents – $51,000
- Household with one dependent – $66,000
- Household with two dependents – $76,000
- Household with three or more dependents – $89,200
- The condition of your home is substandard or deficient and needs repair to bring it up to a reasonable standard.
- Your cash and assets are at or below $20,000 (savings account, bonds, not including locked in RRSP/RESP/RDSP).
- The house that needs repair is your sole and principal residence.
When going through the application process, residents will also see the types of work that the Ontario Renovates Program covers. Items such as: roofing, electrical, plumbing and heating are just a few of the items that are funded.
More information about this program can be found on the Thunder Bay District Social Services Administration Board website.
