Old Grace Housing Co-operative received a rental housing construction tax credit from the Manitoba government. It received the credit because it developed at least five new units of housing and at least ten per cent of the units developed were to charge rents that were at or below the Affordable Housing Rental Program Rents. The value of this credit was $768,000. It must demonstrate that is continuing to do so for a five-year period, ending in April 2023.
In 2020 Old Grace submitted Declaration and Consent forms that were completed by 20 OGHC members who were living in Affordable Units. You can see a blank copy of the form here.
In subsequent years, the Co-op must submit this three-page form.
There are two important things to note:
- On “the Certificate of Continuing Eligibility Application Form” under “Required Supporting Documents Attached” we should select “No new tenants.” This is because we filed so many documents in the initial process that we will not have to file new Declaration and Consent forms.
- On the Schedule of Affordable Rental Unit, we list all of the households that filled out forms in 2020 and were living in the Co-op in the previous year. The information can be copied from the previous year’s application, making sure to ensure that the rent information is updated. While we only have to provide information on this form of 10 per cent of the affordable housing units (4, given that there are 34 units) we should include as many of the original 20 who are still living in the co-op. (This ensures the likelihood of approval and helps us maintain a list of people to be included in the coming year’s application.