The Ministry of Infrastructure has re-launched an expanded version of the Surplus Property Transition Initiative, an existing program to support community organizations involved with developing community hubs at the local level across Ontario.
The Surplus Property Transition Initiative helps organizations and community groups transition surplus publicly owned properties, such as schools, public hospitals or other publicly owned properties to meet community needs. There are two stages to this expanded program.
- Holding cost stage:
- provides funding to hold publicly owned properties for up to 18 months that are no longer in use or that have been deemed surplus
- this gives organizations time to:
- find partners
- complete a business plan and
- secure funding to redevelop the property into a community hub
- Fair value offset stage (New):
- provides funding to help community organizations acquire eligible surplus properties at below fair value to support community re-use
Details including eligibility criteria and how to apply can be found at: www.ontario.ca/page/surplus-property-transition-initiative.
Applications will be accepted beginning May 4, 2018.