Commercial Districts Housing Opportunities Loan Formal Application

Home Commercial Districts Housing Opportunities Loan Formal Application

Important Program Information

Any portion of a project consisting of renovations to residential rental units shall not be permitted under this Program except where at least one of the exceptions listed in the Program Eligibility and Loan Criteria section (Clause 8) of the Commercial District Housing Opportunities Program Description are met to the satisfaction of the City.
Where a site contains existing, occupied residential rental units at the time an application under this program is submitted to the City, please be advised that notification will be provided, by the City, to the occupied units that an application has been made under this program. Where an application is subsequently approved, occupied units will be further notified of the value of any incentive to be provided by the City and the nature of improvements/work that the incentives are intended to facilitate, where applicable.
An approval under this program may be subject to requirements which limit potential Above Guideline Increase requests to the Landlord and Tenant Board for residential rental units occupied at the time an application is submitted to the City. Please see the Program Description for more information.

$420 Application Fee to accompany application

Once you submit your form, you will be redirected to a new page to sign and confirm the accuracy of your form. After you sign, if applicable, the form will automatically be emailed to the Registered Property Owner for their signature and consent. Once everyone has signed, you will receive a final confirmation email.

Please note: Your application is only considered complete after all signatures have been collected.

A ‘Save and Continue Later’ button is available at the bottom of this form. This button will generate a link and allow you to revisit the form at a later date.

Review Additional Information Below

Applicant Information

Name of Applicant(Required)

Individual or Corporation or Partnership

Contact Name(Required)

First Last

Address of Applicant(Required)

Street Address Address Line 2 City Province Postal Code Country

Primary Phone Number(Required)

Alternate Phone Number

Applicant Email(Required)

Is the applicant the registered property owner?(Required)

Yes

Is the applicant acting on behalf of a Corporation or Partnership?(Required)

Yes

Registered Property Owner Information

An email will be sent to the property owner for signature to authorize, and consent to, the use by, and the disclosure to, any person or public body of any information, including personal information that is collected for the purposes of processing this application.

Registered Property Owner Name(Required)

First Last

Registered Property Owner Address(Required)

Street Address Address Line 2 City Province Postal Code Country

Registered Property Owner Primary Phone Number(Required)

Registered Property Owner Alternate Phone Number

Registered Property Owner Email(Required)

Registered Property Owner Date of Birth(Required)

Please Note: Date of birth is required for bankruptcy searches.

Applicant Information if a Corporation/Partnership

Name of Corporation or Partnership(Required)

Date of Incorporation(Required)

Date of Business Registration(Required)

Registered Shareholders/Partners(Required)

Name(s)

Are you or any of the Directors/Shareholders/Partners/Owners in litigation with the City of Hamilton?(Required)

Yes

If any of the improvements for which a loan/grant is being sought consist of renovations to residential units, please answer the following questions.

Has there been any residential rental tenant displacement?

Yes

Has the project been approved for financial assistance under a Canada Mortgage and Housing Corporation (CMHC), Federal, Provincial or City program for the purposes of creating residential rental housing to address housing affordability in the city?

Yes

Has the existing building been entirely vacant for at least two years prior to a program pre-application being submitted to the City (not including periods of vacancy due to renovations)?

Yes

Is the registered property owner/program applicant a registered not-for-profit organization?

Yes

Are the interior renovations primarily to support improvements to a commercial space or to improve/replace shared building services utilized by both a commercial space and the rental residential units within the same building (such as plumbing, electrical or Heating, Ventilation and Air Conditioning (HVAC) systems) and do not include renovations within individual residential rental units?

Yes

Are the planned renovations solely in response to the landlord/registered property owner being ordered to make repairs under any act or law?

Yes

Which act or law?

Are the renovations intended to support the legalization and/or recognition of an existing residential rental unit, without which, the unit would no longer be permitted to be occupied?

Yes

Property Information

Property Address(Required)

Street Address Address Line 2 City Province Postal Code Country

Date of Purchase(Required)

Purchase Price(Required)

Appraised Value(Required)

Proposed Development

Estimated Cost of overall project.(Required)

Est. Cost of Residential components of Project(Required)

Est. Cost of Commercial components of project(Required)

Estimated Cost per Sqr. Ft.(Required)

Cost per unit for Residential units(Required)

No. of Residential Units Proposed(Required)

Anticipated Construction Start Date(Required)

Anticipated date project 60% Complete(Required)

Anticipated date project complete(Required)

Will the proposed development be for residential condominiums?(Required)

Yes

Contact Information

Solicitor Firm's Name(Required)

Solicitor's Name(Required)

First Last

Solicitor Firm's Address(Required)

Street Address Address Line 2 City Province Postal Code Country

Solicitor's Email(Required)

Solicitor's Primary Contact Phone Number(Required)

Solicitor's Alternate Phone Number

Architectural Firm's Name(Required)

Architect's Name(Required)

First Last

Architectural Firm's Address(Required)

Street Address Address Line 2 City Province Postal Code Country

Architect's Email(Required)

Architect's Primary Contact Phone Number(Required)

Architect's Alternate Phone Number

Engineering Firm's Name(Required)

Engineer's Name(Required)

First Last

Engineering Firm's Address(Required)

Street Address Address Line 2 City Province Postal Code Country

Engineer's Email(Required)

Engineer's Primary Contact Phone Number(Required)

Engineer's Alternate Phone Number

Project Monitor Firm's Name

Project Monitor's Name

First Last

Project Monitor Firm's Address

Street Address Address Line 2 City Province Postal Code Country

Project Monitor's Email

Project Monitor's Primary Contact Phone Number

Project Monitor's Alternate Phone Number

Quantity Surveyor Firm's Name

Quantity Surveyor's Name

First Last

Quantity Surveyor Firm's Address

Street Address Address Line 2 City Province Postal Code Country

Quantity Surveyor's Email

Quantity Surveyor's Primary Contact Phone Number

Quantity Surveyor's Alternate Phone Number

Current First Mortgage

Name of Financial Institution

Original Principal Amount of Current First Mortgage

Principal Amount Outstanding

Interest Rate

Term of loan in years

Date of Maturity

Monthly principal Payment

Monthly Interest Payment

Total Monthly Payment

Current Secondary Financing

Name of Financial Institution

Original Principal Amount of Current Secondary Mortgage

Principal Amount Outstanding

Interest Rate

Term of loan in Years

Date of Maturity

Monthly principal Payment

Monthly Interest Payment

Total Monthly Payment

Details of Other Financing (if applicable)

Proposed First Mortgage

Name of Financial Institution

Principal Amount of Proposed First Mortgage

Start Date of Proposed First Mortgage

Proposed Interest Rate

Proposed Term of loan in Years

Proposed Date of Maturity

Monthly principal Payment

Monthly Interest Payment

Total Monthly Payment

Proposed Second Mortgage

Name of Financial Institution

Principal Amount of Proposed Second Mortgage

Start Date of Proposed Second Mortgage

Proposed Interest Rate

Proposed Term of loan in Years

Proposed Date of Maturity

Monthly principal Payment

Monthly Interest Payment

Total Monthly Payment

Direction to the financial institution that holds the mortgage(s) on the property, to share information on the mortgage(s) with the City of Hamilton.

To(Required)

Name of Financial Institution/Mortgagee

Address(Required)

Address of Financial Institution

Street Address Address Line 2 City Province Postal Code Country

Phone Number(Required)

Phone number of Financial Institution

From(Required)

Name of Applicant

First Last

Account Number(Required)

Reference number for mortgage account

Additional Information

Does the Applicant own additional properties in Hamilton?(Required)

Yes

Addresses of other properties in the City of Hamilton Boundary owned by the Applicant.(Required)

If the application is from a Partnership or Corporation include addresses of properties owned by the Partnership or Corporation.

Applicant/Partnership/Corporation Name

Street Number and Name

Area of City (i.e. Hamilton, Stoney Creek, Waterdown, Dundas, Binbrook, Ancaster)

Criminal Offence

For applicants that are Corporations, this question must be answered by all principals of the Corporation. Please note that if the answer is “yes”, submission of a criminal conviction record check may be required.

Have any applicants been convicted of any criminal offence for which you have not been granted a record suspension or pardon?(Required)

Yes

Affidavit or Sworn Declaration

File Upload(Required)

Please use this field to upload any and all required attachments. See required documents/information list below this form for additional information.

Drop files here or

Max. file size: 50 MB.

Additional Information

Completed Application Form- all areas completed and applicable signatures
Cheque for Application Fee – payable to City of Hamilton
Articles of Incorporation (If applicable)
Articles of Amendment (if applicable)
List of Officers/Directors (if applicable)
List of Shareholders and Percentage Equity (if applicable)
Shareholder registry (If applicable)
Partnership Documents (if applicable)
List of Partners and Percentage equity (If applicable)
Explanation of Planning/Building Status i.e. Site Plan, building permit number if issued, drawings.
Architectural or design plan (If available, or sketch showing proposed improvements
Photos demonstrating state of property prior to construction/renovation taking place. Hard copies of photos are to be date stamped.
Cost to Construct Budget dated within 6 months of the date of application prepared by an architect/engineer and addressed to the City of Hamilton (unless other documentation is acceptable by the City). The Cost to Construct Budget MUST break down the costs between the residential component of the project and other components i.e. commercial.
Contracts in Place
Copy of land transfer/deed
Details of all Construction Financing (Copy of the Loan agreement detailing term of the loan, repayment terms, securities required etc.)
Appraisal Based Upon Value of Completed Project (prepared by an accredited member of the Appraisal Institute of Canada (AIC)) to include replacement cost; dated within 6 months of the date of application and addressed to the City of Hamilton.(unless alternative documentation is acceptable by the City)
Details of proposed uses not directly related to the residential component of the proposed development including uses, square footage, and value and whether commercial units are vacant or occupied.
Environmental Reports (if applicable)
Accountant Prepared Financial Statements (most recent 2 years and current year- to-date)
Business Plan or Financial Forecast
Construction Pro-forma
Cash flow for the period of construction and the term of the City’s loan indicating anticipated dates for 60%, 80%, 100% complete.
Net Worth Statement (identify existing guarantees pledged for other financial commitments and the value of the pledge(s)). If owned by an individual, the net worth statement of the individual is required. If owned by a corporation, the net worth statement of primary shareholder(s) required. If owned by a Partnership, net worth statements of each partner is required.
A description of the applicant’s past development experience
A copy of marketing plan for the project
Confirmation of pre-sales/rentals/leases

Please note: The completion of all areas of the Pre-Application and Final Application and the inclusion of the above information/documentation (unless deemed to be non-applicable by the City) are required for the application to be considered complete. The City reserves the right to reject any incomplete application.

Invest in Hamilton

Commercial District Housing Opportunities Loan Formal Application

Important Program Information

Applicant Information

Registered Property Owner Information

Applicant Information if a Corporation/Partnership

If any of the improvements for which a loan/grant is being sought consist of renovations to residential units, please answer the following questions.

Property Information

Proposed Development

Contact Information

Current First Mortgage

Current Secondary Financing

Proposed First Mortgage

Proposed Second Mortgage

Direction to the financial institution that holds the mortgage(s) on the property, to share information on the mortgage(s) with the City of Hamilton.

Additional Information

Criminal Offence

Affidavit or Sworn Declaration

Additional Information

Documents/information Required With Application