City of Toronto Home Energy Loan Program
April 1, 2014 -- In 2013, Toronto City Council approved a $20 million pilot project water and energy efficiency program for improvements to private single-family residential properties called the Home Energy Loan Program (HELP).
Homeowners may voluntarily apply to the City’s Program and enter into an agreement with the City to undertake qualifying energy efficiency and water conservation improvements.
The City then imposes a special charge–equal to the cost of the improvements, plus interest and an administrative charge incurred by the City–on the participating property.
Payments to the City are then made over a period of up to 15 years as a special charge indicated on the property tax bill. The payment obligation attaches to the property, not the owner, and is secured by the City’s priority lien status. If a property changes ownership, the new owner would assume the financial obligation and continue to make payments to the City until the special charge is fully paid.
HELP is a pilot project only available in specific neighbourhoods in Toronto. If the first three digits of the home postal code are listed below, HELP financing is available:
- Black Creek: M3N
- Toronto Centre/Riverdale/Beaches: M4E, M4L, M4M, M4J, M1N, M4C, M4K, M5A
- Junction/High Park: M6P, M6S
- South Scarborough: M1M, M1E, M1C, M1L, M1K, M4B
Homeowners may qualify for a low interest loan through HELP if:
- they own a detached, semi-detached, row or mobile home;
- all of the property owners on title consent to the Program;
- property tax and utility payments to the City are in good standing; and
- they obtain written consent from their mortgage lender, if applicable.
For more information on the Home Energy Loan Program, please click here, or contact the Environment & Energy Division of the City of Toronto at 416-392-6063.
Treb News update.