After a hiatus of nearly six years, the City of St. Thomas is reviving the St. Thomas-Elgin Affordable Homeownership Program (AHP), originally launched in 2007.
The AHP was designed to assist low-to moderate-income households in purchasing their first home.
This AHP was originally funded as a one-time allocation under the Canada-Ontario Affordable Housing Program.
It is worth noting that since its inception, 46 households have successfully achieved homeownership through the initiative.
So, how does the program operate?
In her report to council at the April 20 meeting, Ellen Hickey, Supervisor of Housing Stability Services, explained, “AHP provides down payment assistance in the form of an interest-free, forgivable loan over a 20-year period to help eligible St Thomas-Elgin households transition from renting to home ownership.
