GETTING STARTED

 

INFORMATION FOR AFFORDABLE HOUSING PROVIDERS

 

The Saskatoon Housing Initiative Partnership (SHIP) has included information on this page that is useful for groups or organizations that are considering pursuing the development of affordable housing in Saskatoon and the surrounding communities. The success of affordable housing groups and organizations is due in part to their demonstrated abilities and a clearly outlined affordable housing project within funding proposals and business plans. Getting Started guides groups and organizations through the process of compiling necessary information required to draft funding proposals and business plans. This information helps groups or organizations to secure funding and support needed to move the proposed affordable housing projects and support services forward.

 

Funding Proposals and Business Plans

In order to demonstrate to potential lenders and funders the value of the proposed affordable housing project to the community as well as your ability to carry out the proposed project you will need to develop a strong and effective funding proposal or business plan. It should also be noted that a detailed business plan is often required in order to receive municipal approvals for proposed affordable housing developments.

Funding Proposals:  Requests for Proposals (RFPs) are typically issued by the various levels of government, inviting applicants to submit a funding proposal that meet the requirements outlined in the RFP. A funding proposal must demonstrate to the reader why your group or organization should receive funding and how explain how the proposed project meets the requirements of the RFP. This is done by providing a clear and sound analysis of the current housing market and the need for the services or housing development among the targeted clientele group. It is also necessary to demonstrate that your group or organization is best suited to provide these services or develop the proposed housing project.

Business Plans: A business plan is a formal document that provides background housing market and demographic analysis, outlines the need for the proposed project, includes the goals of the proponent in developing affordable housing, supports the proponent’s ability to pursue these goals, and outlines a plan for reaching these goals through the proposed project. An effective business plan will provide information about the proposed affordable housing development to potential funders, lenders, and various levels of government to demonstrate how resources received will be used. A business plan also establishes the credibility of your group or organization as well as the proposed affordable housing project. While business plans are usually prepared by those implementing it, outside assistance from consultants, accountants, bookkeepers, and those with relevant business experience may be necessary.For a list of Funding Sources for Affordable Housing, click here.

 

For a list of Funding and Business Plan Proposal services offered through SHIP click here