Lead

Grant and Loan Forgiveness

The BLP loan forgiveness period ends 5 years after the clearance date or once the original property owner sells the property.

 

The BLP grant forgiveness period ends 3 years after the clearance date or once the original property owner sells the property.

 

Please see the 'How to Obtain Forgiveness' informational sheet below to learn how rental property and owner-occupied property owners can earn 100% grant and loan forgiveness in 3-5 years.

 

How to Obtain Forgiveness - Informational Sheet    

 

Rental Properties                                                                                                              

In order to receive full grant and loan forgiveness If you own a rental property, you will need to continue to rent to the original eligible household which was qualified by BLP. If there is tenant turnover, it is the property owner's responsibility to continue to rent to income-eligible households.

Please see BLP's 'How to Qualify' webpage for more information on how to ensure that your tenants are income-eligible. We advise that necessary forms are collected from tenants before or while they are in the process of signing the lease. 

Please use the following form to track tenant turnover over the 5-year grant and loan forgiveness period, so when BLP is determining whether you have fulfilled all of the requirements to receive full grant and loan forgiveness, you will have all of the required information ready:

 

Tenant Turnover Tracking Sheet    

 

Essential Maintenance Practices (EMPs)                                                                     

Both Owner-Occupied and Rental Property Owners are required to take an Essential Maintenance Practice course within 6 months of the clearance date. If you do not, you will forfeit 20% of the grant or loan; whichever is greater. For more information on Essential Maintenance Practices and the course, please see our EMP webpage