Increasing Woodstock’s housing units - Rental Incentive Pilot Program
Jill M Davies (on behalf of the EDC Housing Working Group)
PO Box 810
Grant Request Summary
The EDC Housing Working Group’s objective is to expand housing supply for the local workforce to grow our local economy. This is one of two initiatives in 2022 and one of three grant applications.
Rental Incentive Pilot Program: Provide financial incentives for short term rental property owners or second home owners to convert smaller properties, that would be appropriate for the local workforce, to long term rentals
For the 2022 Pilot Program, Woodstock EDC will issue up to five grants (amounts still being determined but we expect the average to be in the range of $7,000)
Incentive levels will be dependant on length of participation (1 year, 2 years, 3 years)
Legal agreement with participants to ensure compliance
Project Budget $35,000
Desired Grant Amount
Other Funding Sources
No-one, this is not an opportunity for philanthropy
Pilot 12 months 2022/23
How will this project benefit the economic and community development of Woodstock?
Increasing the number of long term rental units will provide primary homes for local workers and families, and increase number children in Woodstock schools .
Which EDC Working Grouop Objectives does your project best support?
Housing (Expanding housing supply for local workforce)
Woodstock Town Planning & Zoning and Fre/EMS chief