Below Market Housing Incentive Grant Program
The Town is pleased to offer a financial incentive to facilitate development of below market housing units in Okotoks aimed at addressing waitlist demands and improving the ability of people employed in Okotoks to also reside in Okotoks. The program offers up to $15,000 per new qualified dwelling unit (townhouse, row house, and apartment) to assist non-profit housing agencies to purchase and/or operate the units at 20% below market rates for a period of at least 20 years.
Proposed projects must be supported by a partnership between a builder licensed to operate in Okotoks and a non-profit housing agency, with approved projects receiving funding after occupancy has been granted for the units. Applications will be accepted on a first come, first serve basis with available grant funding determined annually through the Council budget.