Financial institutions offer ‘green’ loans for home owners making energy efficient upgrades. Vancity’s Bright Ideas personal loan offers home owners up to $20,000 at prime + 1% for up to 10 years for ‘green’ renovations. RBC’s Energy Saver loan offers 1% off the interest rate for a fixed rate installment loan over $5,000 or a $100 renovation on a home energy audit on a fixed rate installment loan over $5,000. For information visit your financial institution.
Top Grants and Rebates for British Columbia (BC) Real Estate cost saving programs for Professional real estate investors, home/property buyers and owners. British Columbia (BC) Real Estate property owners can take advantage using following grants and rebates. Professional real estate investors have been using these grants and rebates in British Columbia (BC) to have better cash flow and save money.
City of Toronto Basement Flooding Protection Subsidy Program
Help protect yourself against basement flooding.Basements can flood for many reasons.
While the City of Toronto is working to make improvements to its complex system of underground pipes, sewers and catchbasins, these improvements alone cannot completely protect a home from basement flooding.
With increasingly frequent severe weather events, it is essential that homeowners take appropriate action to reduce the risk of basement flooding on their own private property.
To assist, the City offers owners of single-family, duplex and triplex residential homes a financial subsidy of up to $3,400 per property to install flood protection devices including a backwater valve, a sump pump, and pipe severance and capping of the home’s storm sewer or external weeping tile connection.
City of Toronto Basement Flooding Protection Subsidy Program Work that is eligible
A: Backwater valve
Installation of backwater valve
Replacement of existing backwater valve
Installation of alarm for backwater valve
Available subsidy = 80% of the invoiced cost up to a maximum of $1,250 regardless of the number of devices installed at the property, including eligible labour, materials, permit and taxes.
B: Sump pump
Installation of sump pump
Replacement of existing sump pump
Installation of alarm for sump pump
Installation of back-up power for sump pump
Available subsidy = 80% of the invoiced cost up to a maximum of $1,750 regardless of the number of devices installed at the property, including eligible labour, materials, permit and taxes.
Note: Be sure to maintain basement flooding protection devices according to manufacturer instructions. Keeping these devices in good working order is an important step in protecting your home against basement flooding.
C: Foundation drain (weeping tile) pipe severance and capping
Disconnection of foundation drains (weeping tiles) from the City’s sewer system by severing and capping the underground sewer connection
Available subsidy = 80% of the invoiced cost up to a maximum of $400 including eligible labour, materials and taxes.
Note: Disconnecting the downspouts from your property’s eavestrough system is not eligible for a subsidy under this program.
How to apply for a subsidy for City of Toronto Basement Flooding Protection Subsidy Program
We believe the information contained in this article to be accurate. It is presented with the understanding that we are not engaged in rendering legal, accounting, or investment advice. When professional assistance is required, utilize the services of a licensed real estate broker, lawyer, accountant, or other consultant as may be required.
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